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.
GM and Chrysler are not the only auto companies in need of a federal bailout. Their financial woes are pushing their suppliers to the brink of collapse as well and a new study says that they will need many billions in federal aid in order to survive. Crain’s Detroit Business reports:
Auto suppliers will need cash infusions of $17 billion to $33.5 billion over the next two to four years to avoid a wave of bankruptcies, according to an A.T. Kearney Inc. study released today.
Tier-one suppliers, nearly all of whom are strapped for cash as production has plummeted since last fall, will need the cash to ramp-up and sustain their operations as demand increases.
The Chicago-based consulting firm expects U.S. auto sales to rebound to more than 16 million vehicles by 2012 from pent-up consumer demand, though the firm expects 2009 sales to drop 24 percent to 10 million units.
The possible bankruptcy of suppliers is a huge problem not only for GM and Chrysler but for Ford and the foreign automakers with factories in the United States as well because they use many of the same suppliers for their parts. Allowing the suppliers to go bankrupt could end up dragging Ford into bankruptcy as well.
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