WASHINGTON - Congress and the White House inched toward a financial rescue of the Big Three auto makers, negotiating legislation that would give the U.S. government a substantial ownership stake in the industry and a central role in its restructuring. Under terms of the draft legislation, which continued to evolve Monday evening, the government would
LANSING - As congressional negotiators drew closer to reaching an agreement on financial assistance for the ailing domestic auto manufacturers, a report was issued that argued the cost of a bailout for General Motors, Ford and Chrysler will be less than the cost of enduring bankruptcy by any or all of the manufacturers - one-fourth
BURLINGAME, Ca. - Rising unemployment and reports of a worsening economy have forced consumers to pinch pennies in recent months. Still, many opened their wallets a little the week after Thanksgiving and spent 9 percent more on online purchases than they did in the same period a year ago, comScore said Monday. Electronics got a
DETROIT - General Motors Corp. plan blitzed auto industry insiders Monday with an full-page advertisement spelling out its need for a bailout and disclosing candid list of mistakes it has made in the past that has helped lead the auto maker to the edge of collapse. The ad is an 867-word letter, and that ran
LANSING - The president of the Michigan Automobile Dealers Association said Friday he can't predict how long dealerships can survive with Congress in limbo over giving the Big Three automakers bridge loans totaling $34 billion. But Ralph Shaheen, who owns several dealerships in the mid-Michigan area, said the current state of affairs isn't the worst
DETROIT - Lobbying for Bailout, GM, Chrysler and Ford are enlisting search ads and YouTube to generate a groundswell of public support from an Internet-savvy public to keep the pressure on Congress. Ford Motor, General Motors and Chrysler have launched campaigns on several Web sites, including Google and its YouTube video site, various blogs, Facebook
MIDLAND - Dow Chemical Co. will cut about 5,000 full-time jobs, or 11 percent of its work force, close 20 facilities and sell some non-strategic businesses as the company looks to speed its restructuring and cut costs. No information was provided by Dow on the impact in Michigan. The nation's largest chemical producer by revenue
LANSING - The crisis facing the Big Three automakers is so dire that federal aid is essential by next week, Governor Jennifer Granholm said on Thursday, as the companies and the UAW presented their arguments to Congress on $34 billion in bridge loans. She said she accepts as true the assessment of General Motors Corporation
But the chamber fell short on supporting a bill (HB 4982 ) that would have banned talking on a cell phone while driving unless that device action was hands-free. Sent to the Senate were HB 5117 (68-32) and HB 5396 (95-5). As approved, the bills do not assess any points on a person's driver's license
CUPERTINO, Ca. - Apple is recommending that Mac users install antivirus software. But don't read this as an admission that the Mac operating system is suddenly insecure. It's more a recognition that Mac users are vulnerable to Web application exploits, which have replaced operating system vulnerabilities as the bigger threat to computer users. On November