General Motors has filed paperwork with the SEC to clear the way for selling stock to the public. The automaker says U.S. taxpayers and other stakeholders will sell common shares. GM also will sell preferred shares. Last year, GM received a $50 billion government bailout. Tracy Samilton of Michigan Radio reports. » E-Mail This » Add to Del.icio.us
Also tagged automaker-says, common-shares-, del-icio-us, general-motors, stakeholders, the-public, with-the-secIn the past month alone, news organizations have paid careful attention to oil spills in places from China to Michigan. But the spills aren’t really more frequent. They’re just drawing more notice in the wake of the Gulf disaster. » E-Mail This » Add to Del.icio.us
Also tagged china, del-icio-us, gulf, img-alt, more-notice, oil-spills, past, places-from, really-more, the-past, the-spills, wakePresident Obama went to Michigan on Friday, the “ground zero” of the recession, to kick off a campaign highlighting the turnaround in the U.S. auto industry. » E-Mail This » Add to Del.icio.us
Also tagged a-campaign-highlighting, auto-industry, campaign-highlighting, ghlighting-the-turnaround, ground-zero, kick-off, michigan-on-friday, obama, president-obama, recession, the-recession, the-turnaroundMost states continue to struggle with deficits, but some are doing a better job of staying afloat than their neighbors. Such contrasts are clear in the Midwest, where Indiana and Michigan have managed their budget problems fairly well, while Illinois is being beaten down. » E-Mail This » Add to Del.icio.us
Also tagged a-better-job, are-doing, better-job, but-some, del-icio-us, illinois, midwest-, neighbors, problems-fairly, staying-afloatIn Holland, Mich., where President Obama visited the site of a new electric car battery plant, an antique Allis-Chalmers steam engine is displayed as a symbol of the city’s industrial heritage. Now Holland is shaking off its rust and trying to build a future in what Michigan’s governor calls the “Green Belt.” » E-Mail This » Add to Del.icio.us
Also tagged city, governor-calls, green-belt-, holland, its-rust, new-electric, steam-engineWASHINGTON – (AP) Regulators on Friday shut down two big California banks, as well as banks in Alabama, Florida, Georgia, Michigan and Illinois, bringing to 140 the number of U.S. banks brought down this year by the weak economy and mounting loan defaults. The Federal Deposit Insura Continued here: Regulators shutter 2 …
Also tagged alabama, banks-brought, economy-and, federal, federal-deposit, georgia, illinois, the-weak, well-as-banks, yearSome General Motors employees in Spring Hill, Tenn., are going to have to find new jobs. GM will lay off 2,000 workers there this week. Production of the Chevy Traverse is moving to Michigan. Roughly 800 employees have been invited to move with the SUV. Others will stick around Spring Hill. » E-Mail This » Add to Del.icio.us
Also tagged 800-employees, chevy, chevy-traverse, del-icio-us, find-new, general-motors, have-been, move-with, spring, spring-hill, tenn-, with-the-suvIn 2001, DNA Software won a $1.5 million, three-year grant from the state of Michigan to develop computer programs for genomics researchers. Four years later, the eight-employee Ann Arbor company was on the verge of bankruptcy. Go here to read the rest: Easy money can kill a business See the original …
Also tagged 1-5-million, arbor, dna, eight, from-the, read-the, rest, the-original, the-verge, yearsGeneral Motors bankruptcy proceeding is causing ripple effects in Michigan and across the country. In GM’s home base of Michigan, suppliers, charities, hospitals and local governments are braced for more hard times
Also tagged across-the-country, bankruptcy-proceeding, causing-ripple, country, general-motors, home-base, local-governments, motorsAs part of the deal between GM and the UAW, union retirees will lose their dental and vision benefits. Health care coverage will remain intact, but GM stock will cover half of the $20 billion health care trust fund for retirees. That means long term health benefits for retirees are directly tied to the fortunes of GM when it emerges from bankruptcy.
Also tagged care-coverage, causing-ripple, country, dental, fortunes, home-base, local-governments, means-long, motors, term-health, the-fortunes, union-retirees, will-lose, will-remain