WASHINGTON DC - Noting that the U.S. financial system "is still working against economic recovery," the Treasury Department Monday revealed details of its plan to address toxic assets weighing on banks' balance sheets. Treasury said one major reason the financial system is still facing challenges is because of "legacy assets" and securities that are compromising
DETROIT - More on the GM bailout, and GM bondholders are not happy. The AP reports bondholders say GM's turn around plan is too optimistic. They worry about getting paid in GM stock, because if GM eventually ends up going into bankruptcy that stock will be worthless. The irony, of course, is that if GM
WASHINGTON DC - Seeking to boost the U.S. clean-energy industry, President Obama on Monday announced $1.2 billion for science research at national labs and a proposal to extend a business tax credit for investments in research and development. At an event at the White House, Obama told researchers and green-technology business people that their work
LANSING - Alternative energy could be one of the saviors of the Michigan economy. Department of Energy, Labor and Economic Growth Director Skip Pruss is working to turn that could into is. In the meantime, he is also working to see that much of the federal stimulus money coming to the state is put to
LANSING - Any tax cuts the Legislature enacts must be paid for in a way that does not slash state revenues, Gov. Jennifer Granholm said Friday. Granholm told reporters cutting revenues at a time when there are critical needs in the state would be irresponsible. Granholm made the comments at the end of a week
LAS VEGAS - Aiming to better compete against a growing list of rivals, Microsoft on Thursday launched Internet Explorer 8, the latest version of its Web browser. IE 8, as the browser is known, was first shown a year ago and has been in testing for months, CNET News.Com. The new browser adds security improvements,
NEW YORK - International Business Machines Corp. is in talks to buy Sun Microsystems in a combination that would bolster IBM's heft on the Internet, in data storage and in government and telecommunications areas, according to people familiar with the matter. The two companies have a common interest in that both make computer systems for
SAN JOSE - Malware exploits moved at unprecedented speed and volume this past year but 2009 may bring increasing cooperation among security vendors and law enforcement agencies to bring down criminal enterprises, according to the annual Trend Micro Threat Roundup & 2009 Forecast. While malware authors have always moved quickly, releasing code as soon as
LANSING - Spending for $873 million of the state's transportation federal stimulus funds, which will support more than 130 projects around the state, which could create 25,000 news jobs, cleared the House overwhelmingly Wednesday. Projects include repair and reconstruction of I-475 in Flint, I-94 in Ann Arbor, I-196 in Grand Rapids, as well as reconstruction
LANSING - With the same cast returning for a repeat performance before the House Judiciary Committee that pushed the issue on both sides last session, the panel approved a package that would essentially erase the state's product liability immunity law and put prescription drugs under consumer protection laws. As they have in prior sessions, advocates