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.
Total domestic auto sales for June were up 14 percent over the previous year and the Big Three American automakers all showed double digit gains, but analysts are still calling June sales a disappointment compared to expectations. Automotive News notes that the gains for Ford, GM and Chrysler were “some of their smallest gains of [...]
Treasury Secretary Timothy Geithner said on Tuesday that the federal government now expects to get more of the money it extended to keep auto-related companies afloat than it originally projected, mostly due to better-than-anticipated growth in sales for the newly restructured General Motors and Chrysler. The Detroit News reports:
An attempt to amend the financial regulation bill to prohibit GM, Chrysler and other companies in which the government has an equity stake from hiring lobbyists was voted down by the conference committee attempting to reconcile the House and Senate versions of the bill. The Detroit News reports:
A Republican Congressman from California, Rep. Darrell Issa, is proposing an amendment to the financial regulation package working its way through Congress that would prohibit GM, Chrysler and other “government-owned” companies from employing lobbyists. The Detroit News reports:
The U.S. Department of Treasury said on Thursday that GM would handle all the major decisions involving its initial public offering of stock in the newly restructured company. They also said that the IPO would not happen before October at the earliest. GM has consistently said they wanted to go public before the end of [...]
GM’s bankruptcy created confusion over who would pay for cleanup at 90 contaminated sites around the country, including 47 here in Michigan. Yesterday the White House announced that it would address this problem by creating an $800 million trust fund to be used for environmental cleanup and demolition at the sites. Speaking from a conference [...]
The domestic auto sales figures for April were released on Monday and the news is good across the board for American automakers. Ford and Chrysler led all the major car companies by posting 25 percent gains over the same month last year, while General Motors posted a 7 percent increase in sales. The sales were [...]
The Detroit Free Press manages to find the cloud in the silver lining of Ford’s astonishing announcement of a $2.1 billion profit yesterday, and it’s the same cloud we identified nearly a year ago when Ford’s competitors were going through bankruptcy: Too much debt.
As GM and Chrysler can only hope to break even in the next year or so, Ford is off to a roaring start to the new year and expects to post a first quarter profit of $1 billion on Tuesday. The Detroit Free Press reports:
It turns out that when General Motors paid back $4.7 billion to the U.S. Treasury and $1.1 billion to the Canadian government last week, announcing that it was doing so ahead of schedule, it was only able to make the repayment by using taxpayer funds given through the TARP program.
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