AUBURN HILLS ? Plex Systems continues to eye an initial public offering in 2012 as it reports a 30-percent revenue gain for fiscal 2011 in a year when many other Michigan companies struggled to break even. Plex CEO Mark Symonds, in an interview with MITechNews.Com Editor Mike Brennan, said, ?We?re watching the market and looking
MENLO PARK, Ca. - Facebook filed for an initial public offering on Tuesday that could value the company up to $100 billion, putting the eight-year-old social network on track to be one of the biggest Web stock market debuts of all time. In a securities filing, the company said it is seeking to raise $5
DETROIT - The Southeast Michigan Purchasing Managers Index made a sharp rebound in January, alleviating concerns about a slowdown for the Michigan economy. The index, which measures activity such as production, new orders, inventories, and employment, rose to 65.9 in January after falling below 50 in December for the first time in more than a
ANN ARBOR - The Center for Automotive Research Tuesday announced the launch of the Coalition of Automotive Lightweighting Materials to support efforts by auto manufacturers to aggressively down-weight vehicles to improve performance, fuel economy and safety. CALM is the first known organization of its kind to coalesce the strengths and knowledge of the aluminum and
DETROIT - Compuware Corporation reported Thursday night after the stock market closed that its net income fell to $21.6 million (10 cents per share) vs. $34 million (15 cents per share) a year earlier - a decline of 36.5 percent from the year earlier quarter. But revenue rose 2.4 percent to $253.1 million from the
BIRMINGHAM - Challenge Detroit is looking for 30 innovative leaders from across the United States to live, work and play in Detroit. When the year is over, they hope these men and woman become entrepreneurs and goodwill ambassadors for Southeast Michigan. The fine print on this program is it provides a $500 a month housing
LANSING - Removing the cap on cyberschools in the state is inching closer to completion in the Michigan House Education Committee. In October, the Senate passed SB 619 by the thinnest margin, but it is not supported by the administration. On Wednesday, those testifying in support of the bill consumed the vast majority of the
LANSING - With a recent federal rule interpretation now allowing it, Michigan Lottery Director Scott Bowen told the House Regulatory Reform Committee on Wednesday that his agency was considering selling lottery tickets online as a way to boost sales. But that effort could see some legislative push-back based on responses from particularly Republican members. Bowen
CUPERTINO, Ca. - Apple reported record revenue of $46.33 billion and profits of $13.06 billion, or $13.87 per share, for the quarter ended December 31, 2011, nearly double the $26.74 billion, or $6.43 per share, the company reported in the same quarter a year ago. "We're thrilled with our outstanding results and record-breaking sales of
KALAMAZOO - Ben Angelo grew up listening to music from his folks' giant collection of vinyl records. But when CDs took over the music scene in the 1990s, he left analog recordings behind. Now Angelo, 31, has joined millions of people who again are buying albums and hybrid turntables that let them download their records