WASHINGTON - Treasury Secretary Henry Paulson said Friday he wants Congress to release the second half of the $700 billion financial rescue package, setting up what is expected to be a bruising dialogue with lawmakers from both parties who have expressed frustration with the way he has navigated the financial crisis. Paulson said the $17.4
CHICAGO - President-elect Barack Obama's economic team is crafting a stimulus package to send to Congress worth between $675 billion and $775 billion over two years, according to officials familiar with the package - a final price tag to be even larger. The transition team has conveyed the figures to Capitol Hill, where the package
DETROIT - SenSound, a Wayne State University spin off, has won $100,000 in a National Science Foundation Phase I Small Business Innovation Research grant to develop an innovative technology for conducting diagnosis and prognosis of vibro-acoustic characteristics of complex machines. "The proposed new technology will enable users to get a clear and better understanding of
WASHINGTON - The Bush administration is seriously considering orderly bankruptcy as a way of dealing with the desperately ailing U.S. auto industry. The Associated Press reported White House press secretary Dana Perino said Thursday, "There's an orderly way to do bankruptcies that provides for more of a soft landing. I think that's what we would
PLEASANT RIDGE - As yet another sign of a deepening recession nationwide, interactive promotions agency ePrize earlier this month laid off about 20 people from across the company to be "proactive and keep our costs down," CEO Josh Linkner said in an interview Tuesday. Linkner declined to say how much money the company would save,
LANSING - Spending by the 50 states is expected to decline in fiscal 2009, the first such cumulative decline in 25 years, said a report issued on Monday by the National Governors Association and the National Association of State Budget Officers. The report is the latest evidence of extraordinary fiscal distress stretching across all the
LANSING - Hemlock Semiconductor with a $1 billion expansion near Saginaw heads a list of 20 companies, aided by state incentives, which are investing $2.3 billion in projects around the state. The much-anticipated Hemlock facility, producing innovative solar energy panels, is part of an expansion that the company split between Michigan and Tennessee, where a
DETROIT - Another day and still no money from the White House. But all the major wire services report it will likely happen Wednesday. The AP quotes Michigan Senator Carl Levin as saying GM will get $8 billion, Chrysler will get $7, and Treasury Secretary Henry Paulson will be the car czar. The AP reports
DETROIT - Detroit's automakers are sitting on pins and needles as they await word from the White House on getting a bridge loan. While the Bush Administration says help will be forthcoming, nothing has happened yet. Maybe manana. The delay indicates there's some heavy-duty horse trading going on amongst all the parties involved. So look
HOLLAND ? It's a trip to the past for IT hiring in West Michigan for the next six months, with tech hiring forecasts back at levels not seen since 2002, Paragon Recruiting contends in its latest hiring forecast. The latest survey shows 20 percent of West Michigan companies plan to hire IT staff through June