DETROIT - Indiana State Treasurer Richard Mourdock, who oversees pensions for his state�??s retirees, is objecting to Chryslers bankruptcy plans, claiming it will hurt pensions. According to Reuters, court papers have been filed that request an examiner be appointed to investigate Chrysler's business decisions and also appoint an independent trustee to oversee the Chapter 11
DETROIT - General Motors Corp. said it won't proceed with the repurchase any of the $27.2 billion of notes it sought, saying bondholder interest was far below the 90 percent threshold it was looking for. The auto maker had been seeking to swap the debt for a 10 percent stake in a restructured company that
ANN ARBOR - At its annual meeting Thursday, Ann Arbor SPARK, the Washtenaw County economic development group elected Stephen Forrest, vice president for research at University of Michigan, as the new board chair, succeeding Rick Snyder who served as chairman since SPARK's formation. Jonathan S. Newpol, executive vice president, Thomson Reuters was elected to the
SOUTHFIELD - Funeral services are pending in Virginia for Lawrence Tech President Emeritus Charles M. Chambers, who died May 20 near his home in Alexandria, Virginia, where he had been battling a brain tumor the past several months. He was 67. Chamber, a founding director of Automation Alley, was a widely accomplished American educator and
DETROIT - General Motors Corp. and the United Auto Workers reached an accord to reduce retiree health-care obligations and labor costs, clearing a major hurdle in the car maker's expected plan to rush through bankruptcy court in as little as 30 days. GM sought a UAW deal to cut by at least half the $20
LANSING - Another $194 million would be spent in federal stimulus dollars to Michigan under a supplemental appropriation passed out of the House Thursday. But some Republicans argued there isn't enough spending oversight included in the measure. HB 4308 , which passed on an 81-27 vote, is on the Senate Appropriations Committee schedule for next
EAST LANSING - If you're a golfer, you don't want to miss this opportunity to play the award-winning Forest Akers Golf Course at Michigan State University on June 11 when the Michigan Venture Capital Association and the MIT Enterprise Forum joining Great Lakes Entrepreneur's Quest to host Michigan's first Investor/Entrepreneur Golf Scramble. GLEQ is wrapping
LANSING - There was agreement between business officials and scientists Tuesday that the Earth is warming and human activity contributes to that, but while a group of scientists in the state urged new federal policy on the issue, business officials argued the cost of the proposals was substantially higher than the gains. A group of
REDMOND, Wa. - Microsoft Corp. is expected to show a new version of its Internet search engine next week, in a renewed effort by the company to compete against Google Inc., people familiar with the matter say. The software giant, these people say, plans to demonstrate its new search engine publicly for the first time
LANSING - Michigan's political leaders embraced on Tuesday the new agreement setting uniform national standards on fuel economy and reducing vehicle emissions. The announcement by President Barack Obama in Washington was attended by Governor Jennifer Granholm, key congressional members and leaders of the auto industry and UAW. The agreement calls for achieving California's 35.5 miles