Manuel Moroun: Difference between revisions
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Revision as of 07:33, 10 January 2013
Manuel Moroun | |
|---|---|
| Born | |
| Nationality | American |
| Other names | Matty Moroun |
| Alma mater | University of Notre Dame |
| Occupation(s) | Chairman and CEO of CenTra Inc. |
| Known for | Owner of the Ambassador Bridge and Michigan Central Station |
| Spouse | Nora[1] |
| Children | Matthew,BILL W,[1] |
Manuel "Matty" Moroun (born June 5, 1927) is an American businessman and the owner of CenTra, Inc., the holding company which controls the Ambassador Bridge.[2][3] The latter is significant as it is the only private ownership of a border crossing between the United States and Canada. He bought the bridge from the Bower Family in 1979. It is now estimated to be worth between 1.5 and 3 billion dollars.[4] CenTra, Inc., is also the controlling body of Central Transport International, an LTL trucking carrier.[5] Moroun also has a controlling stake in Universal Truckload Services Inc., which is in itself a holding company for several over-the-road truck lines and logistics companies(Universal Am-Can Ltd., Mason Dixon Lines, Economy Transport, Cavalry Logistics, Louisiana Transportation, Inc. etc.)[6] A recent Forbes article listed him as the 321st richest American.[7]
Early life
Maroun is of Lebanese descent.[8] He grew up on Detroit's east side with his three sisters. His father ran two gas stations in Detroit, which Matty helped at before and during his high school education. During his sophomore year of high school (1946), his dad bought Central Cartage Company, which would later become Central Transport. During college Matty would regularly commute back and forth, from South Bend to Detroit, to help run the family business.[9]
Moroun attended the University of Detroit Jesuit High School, graduating in 1945.[citation needed]
Bridge ownership
On 25 March 2010, it was announced that Moroun would sue the US and Canadian governments over the Detroit River International Crossing. He sought to block construction of the new bridge as it would compete with his own proposal for a second span of the Ambassador Bridge, which he would also own.[10] Critics suggest that Moroun's opposition is fuelled by the prospect of lost profits from duty-free gasoline sales, which are exempt from about 60 cents per gallon in taxes even though the pump price to consumers is only a few cents lower.[11]
In 2009, the Michigan Department of Transportation (MDOT) sued Moroun and the Detroit International Bridge Company for failing to comply with the terms of a contract to construct ramps connecting the Ambassador Bridge to nearby expressways as part of The Gateway Project. Wayne County Circuit Judge Prentis Edwards ruled in February 2010 that Moroun and the chief deputy of the Detroit International Bridge Co., Dan Stamper, were indeed in violation of the contract and ordered them to become in compliance. On 12 January 2012, Judge Edwards found both Moroun and Stamper to be in non-compliance with his previous order and ordered both men to jail, denying a motion to stay the order until it could be appealed to the Michigan Court of Appeals.[12][13]
After spending a night in jail, both men were later released by the appellate court while they heard the case.[14]
References
- ^ a b http://urbantoronto.ca/archive/index.php/t-3880.html
- ^ http://www.crainsdetroit.com/article/20090419/SUB01/304199963# from Crain's Detroit Business POSTED: 8:00 p.m., Apr. 19, 2009 LAST MODIFIED: 8:19 p.m., Apr. 19, 2009
- ^ Jack Lessenberry, http://metrotimes.com/news/story.asp?id=14303 from Metro Times
- ^ Ottawa mulls buying Windsor-Detroit Ambassador Bridge By, John Ivison and Dave Battagello
- ^ "Central Transport".
- ^ "Universal Truckload Services".
- ^ Forbes. 17 September 2008 http://www.forbes.com/lists/2008/54/400list08_Manuel-Moroun_7L2B.html.
{{cite news}}: Missing or empty|title=(help) - ^ "Ammonnews".
- ^ Voyles, S. "The Man Behind the Bridge - Matty Moroun". Corp!. Retrieved 27 August 2012.
- ^ "Ambassador Bridge boss sues Canada, U.S." CBC News 26 March 2010. Retrieved 20 April 2011
- ^ "Tax-free fuel sales are bonanza for Ambassador Bridge owners." Detroit Free Press 25 April 2011. Retrieved 25 April 2011
- ^ "Mich. billionaire, 84, jailed over bridge dispute." USA Today 12 January 2012. Retrieved 12 January 2012
- ^ "Billionaire Bridge Owner's Greed Lands Him In Jail" Forbes. 12 January 2012. Retrieved 12 July 2012
- ^ "Billionaire Detroit bridge owner released from jail." Reuters 14 January 2012. Retrieved 15 January 2012