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.
Reuters reports that GM “will cut its senior executive pension plans by up to two-thirds as part of its bankruptcy restructuring.” The cuts will apply to executives whose total retirement benefits are more than $100,000 a year.
And while Reuters quotes GM CEO Fritz Henderson as saying that the company has not decided what to do with former CEO Rick Wagoner’s accrued retirement benefits, which have been valued at more than $20 million, the Detroit News says that the cuts announced by GM are “expected to cost ousted CEO Rick Wagoner up to $15 million.”
Wagoner, 56, a 32-year veteran of GM, had a pension with total accrued benefits of $22.1 million as of Dec. 31. The pension is to be paid in five annual payments of $4.52 million, with the first monthly installment due upon his retirement.
Wagoner also is owed a $68,900 annual pension. If he is docked two-thirds of the pension beyond the first $100,000 in his combined pensions, the former GM boss would lose $2.99 million a year for five years — or almost $15 million.
It is unclear at this point, in light of the conflicting reports, whether Wagoner’s pension is included in the cuts announced on Friday.
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