DETROIT - The Wall Street Journal reports that GM bondholders are not happy with the company's plan, saying it does not go far enough to cut costs, even though it gets rid of another 47,000 jobs. They want GM to become immediately competitive, not get there in 2012. And it sure sounds like the bondholders
DETROIT - The global fallout from General Motors Corp.'s financial difficulties worsened significantly Friday as its Swedish unit Saab received credit protection from a court and the Korean car maker GM controls said it asked a government bank for emergency aid. Meanwhile, GM's profitable German unit Opel said that market conditions have deteriorated and that
ANN ARBOR - New Enterprise Forum presented four awards Thursday night - three to 2008 elevator pitch presenters and one to Ted Dacko, president of HealthMedia, as the Entrepreneur of the Year. The NEF awards night, at the Holiday Inn North Campus, featured Phil Tepley, NEF President, and Gerry Roston, NEF Program Committee Chair, are
SAN FRANCISCO - Late on Tuesday night, Facebook reversed a change to its terms of service that had meant that its license on user content-a longstanding but little-publicized claim to an "irrevocable, perpetual, non-exclusive, transferable, fully paid, worldwide license" for promotional efforts-would no longer expire if a member deleted his or her Facebook account. Over
WASHINGTON DC - The White House has launched Recovery.gov, a site that intends to bring transparency to the government spending authorized in the $787 billion economic package the president signed Tuesday. "The size and scale of this plan demand unprecedented efforts to root out waste, inefficiency, and unnecessary spending," President Obama says in an introductory
BARCELONA -Verizon Communications' chief technology officer dished out details Wednesday on the company's soon-to-be-built 4G wireless network that's set to go live in 2010. Verizon will begin testing the service this year and launch it commercially in at least 25 to 30 markets in the U.S. in 2010, CTO Dick Lynch said during an interview
WASHINGTON - The U.S. Small Business Administration issued a scam alert today to small businesses, warning them not to respond to letters falsely claiming to have been sent by the SBA asking for bank account information in order to qualify them for federal tax rebates. The fraudulent letters were sent out with what appears to
ANN ARBOR - SenSound, sponsored by TechTown, Creative Byline, sponsored by the West Michigan Science and Technology Initiative, and Biotectix, sponsored by Ann Arbor SPARK, all received funding in January from the Michigan Pre-Seed Capital Fund, which has done 30 deals so far. The Michigan Pre-Seed Capital Fund is an equity investment fund and, as
DETROIT - General Motors Corp. on Tuesday, meeting a Congressional deadline to report on its progress restructuring, said it will need as much as $16.6 billion in additional federal aid and could run out of money next month if it doesn't receive at least some of that funding immediately. The No. 2 world automaker, surviving
ANN ARBOR - New Enterprise Forum and MiTechNews.Com will roll out a new podcast channel that will provide audio interviews with speakers, starting Thursday at the NEF Annual Awards Show in Ann Arbor. The new NEF podcasting channel will provide easy access to interviews and elevator pitches from the speakers and presenters that are showcased