LANSING - Despite the difficult economic times in Michigan, which has forced the state legislature to abandon the 21st Century Jobs Fund competition this year, Michigan must still play offense if it wants to grow its technology sector, which includes biotech, homeland security, clean technologies and advanced manufacturing, said Greg Main, new president of the
DETROIT - Great Lakes Angels, which once was housed in TechTown, is returning to the Wayne State University incubator. Rick Galdi, president of the angel investing group, gave this exclusive interview at the Michigan Growth Capital Symposium to MITechNews.Com Editor Mike Brennan. To listen, click on MITechNews.MediaRica.Com a>>
DETROIT - New Economy Initiative announced Monday it will invest $9.25 million over three years and work closely with the Ewing Marion Kauffman Foundation to help minority auto suppliers find new non-auto partners. The program will be based at Wayne State University's TechTown and help an estimated 800 entrepreneurs annually, creating an estimated 400 new
WASHINGTON - The Obama administration on Tuesday plans to order auto makers to increase the overall fuel economy of automobiles sold in the U.S. to 35 miles per gallon by 2016, four years faster than current federal law requires, people familiar with the matter told The Wall Street Journal. The move is part of a
LANSING - It seems all anybody wants to know is when the national recession will bottom out, but unfortunately even answers to that question were on shaky ground Friday as Michigan deals with the bankruptcy of part of the domestic auto industry. While there is some indication the national recession is on its way out,
LANSING - While there are hints a national recession may be drawing to a close, uncertainty surrounding what the recovery will be like and whether the domestic auto industry will rebound cast a gloomy picture for state revenues as members of the Revenue Estimating Conference downgraded the budget outlook by $1.7 billion for the fiscal
NEW YORK - Economists in the latest Wall Street Journal survey see an end to the recession by autumn, but say it will take years for the economy to fully recover. On average, the 52 economists who participated in the survey project that the recession will end in August. They expect gross domestic product to
DETROIT - Business software and services provider Compuware Corp. said its fiscal fourth-quarter profit declined as revenue dropped sharply. For the three months ended March 31, the company earned $48.4 million, or 20 cents per share, down 21 percent from $61.2 million, or 23 cents per share, in the same period a year earlier. Revenue
DETROIT - General Motors Corp., under the direction of the U.S. Treasury, is near a deal that would cut its hourly labor costs by more than $1 billion a year and reduce its $20 billion pledge to the United Auto Workers to cover health-care obligations, people familiar with the matter told The Wall Street Journal.
DETROIT - Just a day after its stock price dropped to levels not seen since 1933 and its bonds tumbled to record lows as well, we may have our clearest sign so far that General Motors is inching closer to bankruptcy. Today in the Free Press we're reporting that the company has moved up some