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.
Bear Stearns tricked Michigan’s pension system into losing $62 million by investing in risky securities backed by sub-prime mortgages, state officials say, and a recent ruling in New York federal court will allow the state’s securities fraud case against the company to move forward.
Attorney General Bill Schuette and State Treasurer Andy Dillon said this week that U.S. District Judge Robert W. Sweet of the Southern District of New York has ruled against Bear Stearns’ motion to dismiss the lawsuit, allowing the case to move on to the discovery phase and ultimately toward trial.
“Investment firms will be held accountable for reckless actions that caused Michigan taxpayers to lose millions of their hard-earned dollars,” Schuette said in a statement. “Violations of the public trust will not be tolerated.”
Michigan is the court-appointed lead plaintiff in the class action lawsuit which alleges that Bearn Stearns misled investors about its exposure to the U.S. housing market.
According to the AG’s office the State of Michigan Retirement Systems is one of the largest pension systems in the nation with approximately $47.5 billion in assets.
In his recent state of the state speech Gov. Rick Snyder mentioned the state pension system as an example of Michigan’s “unsustainable financial model.” Snyder said that Michigan has $54 billion in pension and benefit liabilities.
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