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The Michigan Messenger going forward

By Staff Report | 11.16.11

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 [...]

Colorado-based abstinence program provided false and misleading information to Michigan students

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By Todd A. Heywood | 11.16.11

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.

Class action lawsuit filed against MERS over unpaid taxes

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By Todd A. Heywood | 11.15.11

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.

Schuette fights important mercury regulations

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By Eartha Jane Melzer | 11.14.11

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.

Jet ‘whopper’ latest Palin-McCain lie

By Ed Brayton | 09.07.08 | 10:37 pm

Remember that airplane GOP veep pick Sarah Palin sold on eBay to make a tidy profit for the state of Alaska because she was just such a regular Jane that she didn’t want to travel the state in luxury the way her predecessor had? Let me refresh your memory:

“You know what I enjoyed the most? She took the luxury jet that was acquired by her predecessor, and sold it on eBay — and made a profit!” McCain declared in Wisconsin at a campaign stop Friday. (Source)

Truth: She sold it to a campaign contributor for a loss:

In fact, the jet did not sell on eBay. It was sold to a businessman from Valdez named Larry Reynolds who paid $2.1 million for the plane — shy of the $2.7 million purchase price — according to news reports at the time. Reynolds contributed to Palin’s campaign in 2006.

I guess to a man who has no idea how many houses he owns, selling the plane for $600,000 less than you paid for it is making a profit.

Comments

  • HD

    You have to factor in depreciation of a used asset. Considering Alaska was leasing it for $63,000 every 3 months, Alaska benefitted. She did put it on ebay, it sold offline after 3 failed attempt. And it was sold for a profit when you factor in depreciation, maintenance cost and upkeep.

    The state took a write-off in depreciation. Every do tax accounting 101.

    Do you sella 2 year old car for the same as a new car?

    Fact is, she sold the plane to save the tax payers money. Either way, the attacks make her look favourable.

    • Rayne1

      Why didn't she simply put it up with a broker that specializes in plane sales? (really, who buys planes on eBay?)

      Or was there a reason she'd rather it was sold in state?

      There are more questions than answers here. Shouldn't have been depreciation issue if she'd really intended to sell it and get it off the books; accountants for the state should have been encouraging a prompt sale to avoid depreciation.

  • Rayne1

    Why didn't she simply put it up with a broker that specializes in plane sales? (really, who buys planes on eBay?)

    Or was there a reason she'd rather it was sold in state?

    There are more questions than answers here. Shouldn't have been depreciation issue if she'd really intended to sell it and get it off the books; accountants for the state should have been encouraging a prompt sale to avoid depreciation.

  • HD

    You have to factor in depreciation of a used asset. Considering Alaska was leasing it for $63,000 every 3 months, Alaska benefitted. She did put it on ebay, it sold offline after 3 failed attempt. And it was sold for a profit when you factor in depreciation, maintenance cost and upkeep.

    The state took a write-off in depreciation. Every do tax accounting 101.

    Do you sella 2 year old car for the same as a new car?

    Fact is, she sold the plane to save the tax payers money. Either way, the attacks make her look favourable.

  • Rayne1

    Why didn't she simply put it up with a broker that specializes in plane sales? (really, who buys planes on eBay?)

    Or was there a reason she'd rather it was sold in state?

    There are more questions than answers here. Shouldn't have been depreciation issue if she'd really intended to sell it and get it off the books; accountants for the state should have been encouraging a prompt sale to avoid depreciation.

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