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.
GMAC is not alone in converting itself into a bank holding company in order to qualify for federal bailout money. Bailout Sleuth reports that American Express (NYSE:AXP) and CIT Group (NYSE:CIT) have done so as well and are swapping equity shares in their company to the government for TARP funds:
The Treasury Department authorized $5.72 billion in capital injections Tuesday for two big financial services companies — American Express Co. and CIT Group Inc.
American Express said it won approval to sell $3.39 billion in preferred stock to the government. Although it is known primarily as a credit-card issuer, American Express recently converted to a bank holding company so it could qualify for aid under the $700 billion Troubled Asset Relief Program.
CIT Group said it was approved for $2.33 billion in taxpayer investment. The commercial finance company had announced Monday that the Federal Reserve approved its application to become a bank holding company.
The stock that both companies have sold to the Treasury Department will pay dividends of 5% for five years and 9% after that.
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