WASHINGTON - Democratic leaders in Congress on Thursday demanded that the Detroit Three automakers produce a plan for how $25 billion in federal loans would be used to finance make them economically viable before they get the money. General Motors, Ford Motor Company and Chrysler LLC are expected to have a plan ready after Thanksgiving
WASHINGTON - California Rep. Henry Waxman has ousted Rep. John Dingell of Michigan from the chairmanship of the powerful House Energy and Commerce Committee, prompting energy and bioscience groups to issue dire warnings for what changes the more liberal, anti-business Waxman may precipitate. Dingell, a 53-year House veteran who represents a district in the working-class
LANSING - Using $25 billion of the $700 billion federal financial bailout to prop up the Big Three in the midst of the global financial crisis appeared to be in limbo on Tuesday as the top executives for the automakers testified before Congress. The U.S. Senate is expected to hold a vote on the legislation,
GRAND RAPIDS- Christian Publisher Zondervan has acquired The City, a social networking software program for churches created by Seattle-based Mars Hill Church. Terms of the agreement were not disclosed. Developed over the past two years by Mars Hill pastor of technology, Zack Hubert, who spent eight years in management at Amazon.com, The City was created
ANN ARBOR - Students at the University of Michigan received $51,000 in grants from the Samuel Zell & Robert H. Lurie Institute for Entrepreneurial Studies/Center for Venture Capital & Private Equity Finance as part of the Fall 2008 Eugene Applebaum Dare to Dream Grant Program, where students apply for funding to advance their business concepts
LANSING - Comerica Bank's tourism index showed Michigan tourism is at its lowest point since the last recession in 2001, while an index tracked by the Michigan Economic Development Corporation showed Michigan is ranked last in the nation for hotel occupancy so far this year. The Comerica index, which measures travel, lodging and entertainment spending,
LANSING - Gov. Jennifer Granholm and Israeli Deputy Prime Minister Eli Yshai on Monday signed a declaration of cooperation on developing alternative energy and water technology companies, part of Granholm's trade mission to Israel and Jordan. Under the agreement the two entities will create working groups to focus on energy technology development, including energy efficiency,
LANSING - The idea that the domestic auto companies could recover if they are forced to file for bankruptcy protection is "baloney," Governor Jennifer Granholm said Monday in national television interview. Customers worrying about warranties and long-term service are not likely to buy a car from a company in bankruptcy, Granholm said in an interview
SOUTHFIELD - While Russian tanks were lining up on the road to Georgia this past August there was a flurry of activity as Russian cyber forces prepared to launch the first ever cyber attack in support of an invasion. In a presentation Nov. 20 at the Motor City Chapter of ISSA, Richard Steinnen will discuss
MOUNTAIN VIEW, Ca. - Yahoo Inc. co-founder and Chief Executive Jerry Yang will step down after the company finds a replacement, closing a tough tenure marked by Yahoo's rejection of a takeover bid by Microsoft. The move could now pave the way for Yahoo to complete the deal with Microsoft, and make it a more