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 federal government has injected another $7.5 billion into GMAC to prepare that company for handling the bulk of the financing for cars from both GM and Chrysler. Automotive News reports:
The U.S. Treasury Department said it has put another $7.5 billion into auto lender GMAC to enable it to support both Chrysler LLC and General Motors car buyers and partly meet a shortage of capital.
The new capital is on top of $5 billion Treasury put into GMAC in December. Treasury said the new investment includes $4 billion to help GMAC lend to Chrysler dealers and retail customers, while the remaining $3.5 billion is intended to plug GMAC capital shortages identified as part of “stress tests” conducted on 19 of the largest banks.
The widely anticipated action is intended to help counter a scarcity of credit that has crippled U.S. auto sales this year. The Federal Reserve also extended an exemption that will let GMAC keep lending to GM dealers and retail customers, which it normally would be barred from doing since it now is a bank holding company in which GM has an interest.
In exchange for these loans, the government receives preferred stock in GMAC, which they are expected to swap for common stock at some point in the future.
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