WASHINGTON DC - According to a new report released by the Association of Certified Fraud Examiners, U.S. organizations lose an estimated seven percent of their annual revenues to fraud - but the damage is the worst among small businesses. Among the fraud cases detailed for the survey, the median loss suffered by organizations with fewer
SOUTHFIELD - Lower industry volumes and the massive decline in truck and SUV sales have put as many as one-third of automotive suppliers in North America at risk of bankruptcy, according to the Summer 2008 Automotive Industry Review prepared by Grant Thornton Corporate Advisory and Restructuring Services. At the same time, bankruptcy concerns for the
BATTLE CREEK - Food maker Kellogg Co. said Monday that John Bryant, chief financial officer and president of the company's North American division, has been promoted to chief operating officer. Bryant will also continue as CFO. Chief Executive David Mackay was the last to hold the COO post. He left the position to become CEO
TRAVERSE CITY - A sharp decline in engineering-school enrollments in Michigan will have an adverse effect on the state's economy and also threatens the long-term recovery of the nation's domestic auto industry. "In the past six years new engineering enrollments at Michigan universities have plummeted by more than 13 percent compared to a nine percent
BILLERICA, Mass. - It's a 21st century twist on the whistle stop train tour. A caravan of 11 vehicles on Monday started off from Portland, Maine, on the Hydrogen Road Tour, a cross-country trek of hydrogen-powered vehicles that will end in Los Angeles after two weeks. The event, which will make 31 stops in 18
CUPERTINO, Ca. - A financial analyst contends Apple's iPhone 3G reception issues may be the result of some faulty chips. Richard Windsor of Nomura published a research note (spotted at GigaOm) Tuesday singling out the iPhone 3G's chipset, made by Infineon, as the probable culprit for the reception problems, CNET News.Com reported. The dropped calls,
MANISTEE - Mariah Power Co. of Reno, Nevada has developed the Windspire, with vertical rotors that catches wind energy and drive a high efficiency generator to produce electric power. A built-in smart inverter converts this power into a regulated form that is readily connectable with the electric grid. To learn more about this urban friendlier
MANISTEE - Holdfast Technologies constructs energy efficient buildings that build an eco sandwich with insulating foam on the outside and concrete on the inside. Learn how they do it in this special GreenTech edition of News Maker interview recorded at the Michigan Energy Fair. To listen, click on MITechNews.MediaRica.Com a>>
MANISTEE - Corn has a lot of potential uses from food, to animal feed to motor vehicle fuel, in the form of Ethanol. But there's a lot of misinformation out there as well with some critics contending corn can't be used to feed people and propel cars. Jody Pollok-Newsom, the executive director of the Michigan
LANSING - The Michigan House has canceled plans to meet for session Wednesday, following news the Senate had nixed its meeting because no agreement has been reached on the energy package. The House is scheduled to convene on August 20 while the Senate is set to meet next on August 27. However, Senate officials expect