DETROIT - Delphi Corp.'s lenders prevailed in a bankruptcy auction and are poised to take control of the bankrupt auto-parts supplier, beating back a government-orchestrated deal to sell the company to General Motors Co. and a California-based private-equity firm. Delphi's lenders prevailed in the auction by forgiving more than $3.4 billion in debt they are
NEW YORK - After examining the behavior of truck drivers covering more than 6 million miles of road, the Virginia Tech Transportation Institute concluded that people who send text messages while driving are 23 times more likely to be in a crash (or what they call a near-crash event) than non-distracted drivers. To conduct the
ANN ARBOR - HandyLab announced Tuesday that it has expanded its collaborative partnership with Manchester, UK-based DxS by signing a broader licensing agreement for the DxS Scorpions amplification technology enhancing the company's focus in the in-vitro diagnostics marketplace.>
DETROIT - Wayne State University's TechTown developed the E2 Challenge grant entrepreneurial program that pays the student teams up to $45,000 this summer to help fund salaries and patent application costs. One of the winners is Cool Schools Technologies, which has developed a secure social networking interface to allow 9th grade students to make connections
DETROIT - Soft Landings, an innovative program developed by Wayne State University's TechTown, helps foreign companies land in Michigan, specifically Southeast Michigan. To listen, click on MITechNews.MediaRica.Com a>>
ANN ARBOR - AXIS Music Academy, already with three studios in Southeast Michigan, is now looking closely at bringing its music training to Ann Arbor. AXIS was one of the companies featured in the July unusual entrepreneurs�?? segment by the New Enterprise Forum. To listen, click on MITechNews.MediaRica.Com a>>
ANN ARBOR - GradeCheck.Net, a web site that helps student-athletes prepare for the tougher academics at college, and perhaps help them win scholarships, is gaining traction among students, high schools and colleges. The TechTown tenant pitched investors for money at the July New Enterprise Forum event. a>>
HOLLAND - Momentum, the new West Michigan technology start-up incubator developed by Rick DeVos, grandson of Amway co-founder Richard DeVos, graduated its first three projects on Tuesday night at a coming out party in Holland, this Lake Michigan shoreline community. Public Collections, Revetto, and Downstream all made pitches to potential investors for money. To listen,
DETROIT - The North American International Auto Show will likely stay in Detroit's Cobo Center because the Detroit City Council refused to reject a state proposal to expand and renovate the center. The council has until midnight Friday to reject the proposal that the state approved last month, but on Tuesday - the last scheduled
LANSING - In another budget cutting move yet this year, Gov. Jennifer Granholm on Tuesday issued an executive directive to reduce state contract spending by 5 percent to 10 percent. Executive Directive 2009-3 also establishes a moratorium on new or expanded personal services contracts and limits the use of temporary employees. Granholm's directive also orders