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 U.S. Treasury Department announced on Thursday that Chrysler had paid off the last remaining government investment in the company, much sooner than anyone expected them to do so.
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 [...]
Now that the newly restructured General Motors has posted its first profitable quarter in three years and looks to be on its way back to stability, the U.S. Treasury Department is preparing to sell off its stake in the company sometime after it makes an Initial Public Offering of stock. The Detroit News reports that [...]
The U.S. Treasury Dept. has given Michigan until mid-April to come up with an innovative way to use $150 million to help homeowners avoid foreclosure, AP reports. Last month the Treasury Dept. announced a Fund for Hardest Hit Housing Markets that would distribute $1.5 billion to foreclosure prevention efforts by state housing agencies in California, [...]
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:
U.S. Rep. Thaddeus McCotter has asked the U.S. Treasury Department and Federal Reserve whether holders of General Motors bonds have credit default swaps with American International Group. McCotter, a Livonia Republican, appeared on CNN’s “Lou Dobbs Tonight” Wednesday where he said that he has asked Treasury Secretary Tim Geither and Federal Reserve Chairman Ben Bernanke [...]
General Motors and Chrysler convinced the Treasury Department to issue $3.5 billion in aid to auto suppliers that are connected to the two companies. GM will oversee $2 billion and Chrsyler $1.5 billion of the aid. The money is aimed at stabilizing suppliers who are teetering on the brink of bankruptcy — just as GM [...]
The first audit of the $700 billion treasury bailout plan by the General Accounting Office says that there is very little oversight on how the financial institutions being helped are spending the money or whether they are complying with restrictions on executive pay. AP reports:
As Congress prepares to consider a Bush proposal to establish a $700 billion fund for purchasing toxic mortgage assets, there is one part of that proposal that is profoundly disturbing even if one accepts the idea that the government should be spending hundreds of billions of dollars we don’t have to rescue struggling companies: the [...]
You know there’s been a profound sea change in the American economy when CNBC’s Larry Kudlow sounds like a bloody socialist, allowing room for taxpayers to bail out American International Group (NYSE:AIG) with short-term bridge loans. This, on the heels of Lehman Brother’s (NYSE:LEH) slow-motion bankruptcy declaration, threatened since investment bank Bear Stearns bit it [...]
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