I am writing today to announce the closure of the Michigan Messenger. After four years of operation in Michigan, the board of the American Independent News Network, has decided to shift publication of its news into a single site, The American Independent at Americanindependent.com. This is part of a shift in strategy, towards new forms [...]
An abstinence-only presentation provided to numerous school districts in Calhoun and Eaton Counties in October of this year provided false and misleading information to students about HIV, experts allege.
Two county registers of deeds filed a class action lawsuit Monday on behalf of Michigan’s 83 counties alleging that the Mortgage Electronic Registration Services owes millions of dollars in property title transfer taxes.
Despite evidence of the impact of mercury on children and public health, Michigan Attorney General Bill Schuette last month joined with 24 other state attorneys general in filing a lawsuit to scuttle new EPA regulations that would reduce mercury emissions from power plants.
The Big Three automakers are not the only ones needing a bailout from the federal government; their suppliers are also in dire financial straits and in need of help. Automotive News reports:
“The next critical phase is the supplier community, which is facing the exact same financial crisis as the manufacturers,” said Neil DeKoker, CEO of the Original Equipment Suppliers Association in suburban Detroit. “We’re requesting assistance from the presidential transition team.”…
Hundreds of auto suppliers are not able to use their receivables from the automakers as collateral for their working capital, because banks have not been accepting those receivables in light of uncertainty over the automakers’ future, DeKoker says. So a common source of working capital for many suppliers has not been available, he says.
“On top of that, suppliers are faced with the same problem — the downturn in product volume,” DeKoker said in an interview. “So cash is not coming in the door. Receivables in December and January will be very low and will create tremendous problems.”
Unless suppliers get government funding to guarantee receivables, there will be hundreds of suppliers in very deep trouble, DeKoker says.
Perhaps the bailout of the automakers will change the situation in the credit markets, allowing suppliers to be able to use their receivables as collateral for short-term financing.
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