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.
Crain’s Detroit Business reports that the Pension Benefit Guaranty Corporation, a federal entity that guarantees a portion of corporate pensions in a similar manner to the FDIC in relation to bank deposits, will take over the responsibility for the pensions of Delphi’s 70,000 workers.
The Pension Benefit Guaranty Corp. said Wednesday that it will assume responsibility for the pension plans of 70,000 Delphi Corp. workers and retirees, as the troubled auto supplier continues to restructure under bankruptcy protection.
The PBGC said it is stepping in to protect the salaried and hourly pensions because Delphi, which has been operating under Chapter 11 for nearly four years, cannot afford to maintain them, and its former parent, General Motors Co., has said it will not assume them.
The total cost is expected to be about $6.2 billion, roughly the amount of money by which the pension plan is underfunded. This is a small taste of what would have happened if GM and Chrysler had been liquidated rather than restructured. The pensions of those two companies are underfunded by approximately $29 billion and taxpayers would have had to pay that bill.
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