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 Treasury Department’s Assistant Secretary for Financial Stability, Herb Allison, testified before the Senate Banking Committee on Thursday, saying that the plan is still in place for the newly restructured General Motors to make an initial public stock offering in 2010. The Detroit News reports:
Allison said the government “is encouraged with the progress that is being made” in terms of improved access to credit.
“We have to transition this economy to new industries in order for it to grow,” Allison said.
The Treasury is in the early stages of preparing for an initial public offering for GM. But it will take several years for the government to sell off its entire 60.8 percent equity stake.
“Our investments in the automobile industry and other companies that have received exceptional assistance are limited and temporary. Chrysler Financial has already repaid its assistance, and an initial public offering for GM is expected next year,” Allison said.
Once the stock goes public, the federal government can then begin slowly selling off the roughly $50 billion worth of common and preferred stock it received as collateral on the debtor-in-possession loans made to GM during its bankruptcy to keep it afloat. Chrysler’s initial public offering likely won’t happen until sometime in 2011.
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