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.
Automotive News has an interesting article citing auto industry observers who think that President Obama is bluffing with his threats to put GM and Chrysler into bankruptcy if they can’t meet more stringent demands for concessions from their employees and debtholders.
Some General Motors bondholders and the largest U.S. auto union are betting the new president, an avid poker player, may now be using bankruptcy as a stick to get all parties to reach a deal…
In setting a two-month deadline for GM and a one-month deadline for Chrysler, the calculation from bondholders and the UAW is that Obama is trying to force their hand and reach an agreement.
“It is a big game of chicken,” said Gregory Peters, chief U.S. credit strategist for Morgan Stanley in New York. “My gut feeling is bankruptcy is not an option for GM and Chrysler. Either in bankruptcy or out of bankruptcy, this is a high-stakes game.”
If so, that’s a pretty high-risk game of chicken. I tend to think that bankruptcy is a real possibility. The fact that new GM CEO has begun talking about it as a possibility and even mentioned specific forms the restructuring might take suggests that they’re beginning to believe it, whether the threat ends up being a bluff or not.
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