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.
Ford (NYSE:F) is doubling its previous commitment of cash available to help retire loans and bonds in debt-equity swaps. Automotive News reports:
Ford Motor Co. will double the amount of cash it is offering to pay down senior secured term loan debt.
Lenders oversubscribed a $500 million cash tender offer by Ford Motor Credit Co. that ended March 19, so the company said it is increasing the amount of cash offered to $1 billion. That will enable Ford Credit to buy $2.2 billion worth of principal loan amounts from its lenders.
Like General Motors (NYSE:GM) and Chrysler, Ford has been trying to swap as much debt for shares of stock as they can to reduce the interest and principal payments they have to meet each month. The more debt they can swap for stock, the lower their cash outflow. This is crucial to surviving the current downturn.
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