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.
A conference committee of the U.S. House and Senate has reached a compromise on legislation that would provide tax credits to consumers who turned in older, less fuel efficient cars and trucks and purchased new, more fuel efficient vehicles. The Detroit News reports:
Lisa Lerer and Victoria McGrane have an article at Politico about how the GOP is seeking to turn the GM bankruptcy to their political favor. It reveals some serious logical tension between some of their arguments. For example, they argue on the one hand against the government holding an equity stake in the company after [...]
U.S. Rep. Gary Peters (D-Bloomfield Twp.) appeared on The Ed Show on MSNBC Tuesday evening to talk about the possibility of GM and Chrysler being forced into bankruptcy court. Peters says bankruptcy must be the “absolute last resort” for the companies and says that debtholders must step up to the plate and help restructure their [...]
Standard and Poor’s has cut the debt ratings for GM and Chrysler, based largely on concerns about the companies being forced into bankruptcy and whether they would be able to emerge from Chapter 11 restructuring with any future economic viability. Automotive News reports:
Moody’s Corporate Finance has issued a report saying that Chrysler is very likely to have to declare bankruptcy in the wake of new demands for restructuring concessions from the Obama administration, while GM is a bit less likely to do so. The Free Press reports:
Automotive News reports that if GM is forced to declare bankruptcy, the federal government could be forced to take on the burden of paying for the pensions of tens of thousands of retired autoworkers:
Automotive News has an interesting article citing auto industry observers who think that President Obama is bluffing with his threats to put GM and Chrysler into bankruptcy if they can’t meet more stringent demands for concessions from their employees and debtholders.
New General Motors board chairman Kent Kresa is floating the idea that if the company is forced into Chapter 11 bankruptcy, it could split into two companies, a good GM and a bad GM, in order to help it emerge quickly from reorganization as a viable company. Automotive News reports on how this might work:
No, the needle on the record is not stuck (for those of us old enough to remember what a record was), this is not a literal repeat. March sales data for the auto industry is out and while the decline from the previous year was not quite as steep as February, the news is still [...]
As if things weren’t bad enough for General Motors after this week’s news from Obama that the administration did not find their restructuring plan viable, the automaker has now told the president’s auto task force that they have increased their projected losses for 2009 by more than a billion dollars:
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