DETROIT - U.S. vehicle sales turned out even worse than expected in April, muting optimism that the auto market is poised to rebound. Auto makers blamed the high-profile troubles at General Motors Corp. and Chrysler LLC for dragging down sales last month across the industry. Chrysler sought bankruptcy protection on Thursday. "We've been fighting all
MIDLAND - Mid-Michigan Energy, an affiliate of LS Power Group, has dropped plans to build a 750-megawatt coal-fired power plant in Midland. A company official, in a Saginaw News article, cited economic and regulatory barriers to the project, as well as legislation enacted last year limiting customers who would draw power from the plant. But
DETROIT - It's official. Fiat is making a bid for General Motors Europe. If it can do that, the Italian automaker plans to merge Fiat Auto with Chrysler and General Motors Europe and spin that off as a new automaker that will have 80 billion Euros in annual sales, or about $105 billion. But I
LANSING - Yet another new day of reckoning hit Michigan's economy on Thursday as Chrysler Corporation announced it would be forced to file for federal Chapter 11 bankruptcy protection as it was unable to reach agreement with bondholders on a negotiated arrangement. But officials said the bigger story was that the automotive manufacturer was now
LANSING - On a straight party line vote, the Senate decided on Thursday to delay any action on legislation that would end Michigan's civil immunity on prescription drugs until June 2, arguing the state needed to focus on fixing its budget before acting on the controversial issue. Senate Democrats failed last week to discharge HB
AUBURN HILLS - Chrysler announced Thursday that, as a result of the comprehensive restructuring plan agreed to by many of its stakeholders, it has reached an agreement in principle to establish a global strategic alliance with Fiat SpA to form a new company. The move will allow Chrysler and Fiat to fully optimize their respective
LANSING - The Michigan Homeland Security Consortium urges Michigan businesses to be aware of the May 1 deadline for complying with the Federal Trade Commission "Red Flag" rules for preventing identity theft and protecting critical data. Barry Cargill �?? Executive Director of the MIHSC announced that Consortium members are working together to create what he
LANSING ? Gov. Jennifer Granholm said Tuesday that she will issue an executive order to cut the state's 2008-09 budget on May 5, but an agreement on what would be cut and by how much has still yet been reached. Granholm met into the early evening at her Capitol office with legislative leaders and Budget
REDMOND, Wa. - Microsoft Corp. is in discussions with Verizon Wireless to launch a touch-screen multimedia cellphone on the carrier's network early next year, in a bid to compete with Apple Inc.'s iPhone, people familiar with the matter told The Wall Street Journal. Microsoft's project, which is code-named "Pink," is aiming to produce a phone
LANSING - While General Motor's warning that it would file for bankruptcy before June 1 if the U.S. government does not find its restructuring plan sufficient was one more reminder of the deadly serious stakes the state is playing for, officials have been working on a potential forecast on what the state's fiscal situation would