DETROIT - Some more signs that the auto downturn may be turning around. Ford Motor Co. on Thursday reported a profitable second quarter and slowed its cash burn amid speculation that the auto maker may issue more equity to reduce its debt. Ford reported a net income of $2.3 billion or 69 cents a share,
ROCHESTER HILLS - Energy Conversion Devices, which makes thin-film flexible solar laminate products for the building integrated and commercial rooftop markets, has signed a definitive agreement to buy Solar Integrated Technologies, a provider of building integrated photovoltaic roofing systems, for $16.3 million. Under the terms of the agreement, ECD will pay 11 cents for each
LANSING - A series of company expansions and potential job developments announced on Tuesday could be the last until 2010 if the Senate does not act on legislation to expand the number of Michigan Economic Growth Authority credits that can be authorized. The companies with projects announced Tuesday include Magna Seating, which would put 420
AUBURN HILLS - Chrysler Group Tuesday announced new incentives to double the federal Cash For Clunkers credit and spur slow car sales. Chrysler calls its newest incentive "Double Cash For Your Old Car," and it can save consumers up to $9,000 toward the purchase of a new Chrysler, Jeep or Dodge vehicle. "Everyone shopping for
SARANAC - NXGen Holdings has acquired 100 percent of Vapor Technologies, Inc.'s common stock for $600,000 at $.02 per share in an all stock transaction. Vapor Technologies is a Nevada corporation that uses multiple encapsulated vortexes to provide pure fuel vapors to gasoline and diesel engines to improve combustion efficiencies. Optimal utilization of the company's
ANN ARBOR ? Data Center Online Tech announced Tuesday that it sold its shared web hosting business to IGD Solutions, a website design, development, and hosting company in Clarkston. Terms were not announced. Online Tech sold its 15 year old web hosting business to focus on its rapidly expanding colocation and managed server business. Over
DEARBORN - Technology entrepreneur and investor Rick Snyder, CEO of Venture Capital firm Ardesta of Ann Arbor, officially announced his candidacy for Governor Tuesday morning on the steps of the Edison Lab in Greenfield Village as a symbolic backdrop to his campaign call to reinvent Michigan. The son of a small businessman, and a native
LANSING - Small auto-supplier based manufacturers looking to diversify into other areas were encouraged to apply for federal stimulus funds for alternative energy manufacturing, Gov. Jennifer Granholm said Monday. The state now has $15 million through the American Recovery and Reinvestment which can act as financial assistance to companies looking for expand into alternative and
GRAND RAPIDS - MITechNews.Com is encouraging all its readers and listeners to help a Michigan Entrepreneur achieve national recognition. Michelle Crumm of the Ann Arbor-based fuel cell company Adaptive Materials is one of five finalists nationally for Entrepreneur magazine's Entrepreneur of the Year award. She also is a board member of Great Lakes Entrepreneur's Quest.
ANN ARBOR - Give Camp, a partnership between the local developer community, Microsoft, Washtenaw Community College, Domino?s Pizza, and Verio, will be held in Ann Arbor July 17-19. Michigan Give Camp is a weekend-long event where software developers, designers, and database administrators donate their time to create custom software for local non-profit organizations. Developers and