Drummond Island Resort in the U.P. is up for auction

Drummond Island Resort, which was once Domino's Pizza founder Tom Monaghan's dream getaway and corporate retreat, is going to auction.

The resort, which Monaghan built in the late 1980s for $30 million and sold year's later for $12 million — is going to auction with a price of $3.5 million.

The 1,600-acre resort complex accessible by boat that includes the Rock golf course, an airport hangar and more was purchased by Clif Haley, former CEO of Budget Rent A Car, and his business partner Denny Bailey, 1992 for $12 million. The island resort has been marketed to firms for corporate retreats and visitors, too.

Haley, who is retiring, decided to sell the resort two years ago. He hoped some investors from China who had visited the resort would make an offer. Alas, it didn't happen.

The auction is being handled by Concierge Auctions (info@conciergeauctions.com) with the bidding taking place Tuesday.

"Concierge Auction convinced us that selling by way of auction signals that the owner is serious and creates a sense of urgency for buyers interested in owning a unique turn key resort," Haley said.

The resort certainly leaves an impression.

It's was some years ago, but I visited the island and recall walking The Rock with Monaghan as he talked of his pizza empire.

He had invited journalists there to discuss his enterprises, which included the Detroit Tigers. It struck me as unusual he would build such a beautiful course when he didn't even play golf.

Much changed as Monaghan later sold Domino's to Bain Capital, the company co-founded by Mitt Romney, his resort to Haley and Bailey, and the Tigers to fellow pizza czar Mike Ilitch.

We'll have to wait and see how the next chapter plays out for the rustic northern Michigan resort.

Snyder's bridge to China grows

Speaking of Chinese investment, Gov. Rick Snyder is seeing the result of his trade missions to the Asian nation with another groundbreaking in Northville for a new manufacturing facility.

CW Bearing USA Inc., a Chinese firm, broke ground Monday and stated it will invest $25.9 million and create 125 jobs at the site. The company expanded to the U.S. in 1994 with a sales office in California.

In 2006, they opened an office in Michigan, along with a sales and engineering center in Novi in 2012.

"Our move to Northville is the first expansion in the USA for manufacturing, assembly and production," said John Hu, CW Bearing USA president and CEO.

Lisa Gray, executive vice president of US-China Automotive Exchange (USCAE), was among those who worked along with the State of Michigan, Wayne County and others in facilitating the CW Bearing deal.

Also on hand at the groundbreaking was Hu, Hu Xiangeng, chairman of Cixing Group Co. Ltd., and Zhao Weiping, Chinese Consul General in Chicago.

Snyder has been on five trade missions to China.

"CW Bearing's investment here shows the importance of building relationships with China and other countries around the globe as we look for markets for Michigan-made goods," Snyder said.

"It's also important to promote our state as a place where international businesses can invest and tap a talented workforce," Snyder added.

Weiping, who is in charge of several Midwest states including Michigan, mentioned its allure for Chinese investors.

"As the auto capital of North America, Michigan is the top priority for the investment of Chinese auto companies," he said.

Carol Cain can be reached at 313-222-6732 or clcain@cbs.com. She is senior producer/host of "Michigan Matters" airing 11:30 a.m. Sundays on CBS 62. See L. Brooks Patterson, Mark Hackel, Warren Evans, Ken Rogers, Noel Nevshehir and Dana McAlister on today's show.