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.
In addition to the $17.4 billion rescue package put together for the automakers by the Bush administration, GMAC has now successfully converted itself into a bank holding company in order to qualify for emergency rescue loans from the Federal Reserve:
GMAC LLC won U.S. approval on Wednesday to become a bank holding company, giving it access to government lending programs and helping it stave off bankruptcy.
The Federal Reserve’s approval should allow GMAC to continue financing loans for General Motors Corp cars. GM Chief Executive Rick Wagoner said last week that GMAC’s difficulties were “hammering” the car maker’s ability to sell autos.
“In light of the unusual and exigent circumstances affecting the financial markets … the board has determined that emergency conditions exist that justify expeditious action on this proposal,” the Fed said in a statement.
Both GM and Cerberus, the private equity firm that owns Chrysler and also owns 51% of GMAC, had to divest themselves of a portion of their holdings in the automotive finance company in order to qualify for the Fed loans because of federal rules that prevent them from owning too large a stake in an actual bank.
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