TROY - Delphi Corp, the largest Tier One auto supplier, saw its credit rating cut to junk status by Standard & Poor's on Tuesday. Production cuts at General Motors have led to Delphi?s slide; the cuts will impact Delphi?s earnings for next year, which S&P reflected in its new rating of BB-plus for Delphi, down
ANN ARBOR ? Business leaders are looking for help from within their companies for ideas and help in improving corporate performance. In the study done by eePulse Inc., 456 executives, when asked the question,What are you doing to improve your company?s performance beyond cutting costs? showed most are looking for answers within their own organizations.
LANSING - Consumers Energy filed its first rate case since 1995, seeking a $320 million annual increase in its revenue ? an average of 9.5 cents more per kilowatt hour. The rate increase would cover a variety of costs the utility faces, including rising health insurance for its employees and equipment to comply with the
TROY ? Automation Alley has hired a law firm with Microsoft Chairman Bill Gates? father name on the shingle to handle its federal lobbying efforts in Washington D.C. Preston Gates & Ellis will replace DykemaGossett. What?s not changing, however, is former DykemaGossett attorney Trish Markwood will continue to handle Automation Alley?s Washington D.C. efforts, but
GRAND RAPIDS ? Michigan InfraGard, an FBI-sanctioned Security education group, has elected new board members and approved several new initiatives, which will keep local law enforcement agencies and individuals involved in critical security planning better connected to each other. The new leadership at Michigan InfraGard includes: Thomas Raupp of Delphi Automotive as President, replacing John
KALAMAZOO ? Manatron, which develops software used by governments, has formed a strategic partnership with DoxTek, an electronic document company, to deliver imaging technology to its Indiana clients for they can comply with new state regulations. Starting in January 2005, the Department of Local Government Finance for the state of Indiana requires that all sales
LANSING ? The Michigan Broadband Development Authority has closed on a $826,000 loan to Michigan Lightwave to bring fiber-based broadband Internet connections to upwards of 500 businesses in Macomb County, the first Authority loan in Macomb. When completed, the 165-mile network will allow customers to connect various office locations throughout the county. This will be
LANSING ? Did your small business launch an innovative service or product that earned revenue for the first time during 2004? It may be eligible for a Small Business Innovation Award. The Small Business Innovation Awards program recognizes unique and remarkable services and products introduced in 2004 by Michigan-based small businesses. Now in its eleventh
KALAMAZOO ? Barry Broome, who has lead Southwest Michigan First since 1999, will now lead The Greater Phoenix Economic Council. Broome was unanimously approved Thursday by the board of the Arizona economic development group. Broome beat out two other finalists from outside the Arizona, reported the Phoenix Business Journal. Broome could not be reached for
CUPERTINO, Ca. ? Security software developer Symantec has agreed to acquire Veritas Software in an all-stock deal valued at about $13.5 billion, creating a software powerhouse with reach into both the consumer and corporate markets. The deal also reflects the increasing convergence of security and data storage, in disaster-recovery systems and archival regulatory-compliance systems. Symantec