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 global downturn in demand for automobiles continues to wreak havoc on auto parts makers and commodities suppliers, as indicated in this roundup of automotive financial news:
Parts maker Magna posts Q4 loss
One of the largest auto parts makers, Canadian-based Magna International, Inc. (NYSE:MGA) reported a hefty US$148 million loss for the fourth quarter. The company reported a net profit for all of 2008 of US$71 million, down nine percent over 2007. Magna’s management said, “While 2008 was a difficult year for the industry, 2009 is expected to be even worse.” Magna employs approximately 74,000 workers. (Source: Toronto Sun)
Auto parts maker Federal-Mogul posts steep loss
Federal-Mogul Corp.(NASDAQ:FDML) posted a loss of $529 million, making Magna’s loss look tame by comparison. Federal-Mogul is in the process of scaling back its total employment of 50,000 workers by eight percent. (Source: Reuters)
UK-Lonmin to slash 5,500 jobs in South Africa
Global recession along with steep drop in demand for platinum for catalytic converters forced British mining group Lonmin to cut 5,500 jobs in South Africa as part of a move to restructure. (Source: MENAFN.com)
Work ceases at Modern Metal
Beleaguered Modern Metal ceased production of vehicle seats and assemblies Monday at its Loves Park, Ill. plant. The bankrupt company is in the final stages of negotiations to sell its equipment to competitor Gill Industries located in Grand Rapids, Mich. Modern Metal’s customers included Magna International, Johnson Controls, and Lear Corp.; it employed 245 workers. (Source: Rockford Register Star)
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