KANSAS CITY - A new report from the Kauffman Foundation, High Growth and Failure of Young Firms, shows that very young firms (one year old) have a net employment growth rate of about 15 percent, if they survive, but about 20 percent of jobs at startups are lost due to business establishment closings in the
WARREN - In today's economy, entrepreneurs and small businesses are more important than ever. Their resilience and drive keep the economy moving and provides countless jobs. Warren-based publication, Corp! magazine wants to recognize those individuals who are committed to entrepreneurial success with its annual Entrepreneurs of Distinction Awards. Nominations are due May 25. To be
ANN ARBOR - For two years straight, Dick Beedon has redefined �??the pitch�?� with eccentric, energetic performances that are yet to be matched, earning him the coveted NEF Battle of the Elevator Pitch trophy! Can anyone out-pitch our defending champion? Come join the fun on May 21 when the New Enterprise Foundation hosts its pitch
ANN ARBOR - Nearly half of the entries in the spring 2009 Great Lakes Entrepreneur's Quest business-plan writing contest are in the Information Technology, Software, Web-based applications and electronic publishing categories, a review of the 175 teams shows. Alternative energy entries placed second with 34, following by New Products with 20, Life Sciences with 17,
LANSING - Banks that are owed millions of dollars by Chrysler Corporation are trying to force the automaker into bankruptcy, Gov. Jennifer Granholm said Wednesday, declaring the situation unacceptable. She told reporters the position of banks that were on the receiving end of billions of federal dollars to bail out the industry are threatening the
DETROIT - The U.S. Treasury, in an escalating back-and-forth that may determine whether Chrysler LLC avoids liquidation, has quickly responded to Chrysler lenders that rejected an earlier Treasury bid to slash the car maker's debt. The Treasury now proposes that the banks and other lenders accept as payment 22 percent of the $6.9 billion they
DETROIT - General Motors Corp. plans to idle most its plants for about two months this summer as the company races to cut costs and production to keep pace with sinking demand, said a person familiar with the plan. The car maker typically closes its plants for a two-week summer vacation. A GM spokeswoman declined
DETROIT - The negotiations over what happens at Chrysler are getting to be contentious. The Wall Street Journal reports that Chrysler's banks rejected the government's request that they slash the company's debt by 85 percent. No dice, say the bankers. They offer to cut that debt by only 35 percent, plus they want 40 percent
LANSING - As a sign of the continuing and deepening economic downturn the state is suffering, a University of Michigan economics group has forecast a loss of 239,000 jobs in 2009. That number is nearly twice the number of job losses forecast by the Research Seminar in Quantitative Economics six months ago at its annual
ANN ARBOR - Pendleton Woolen Mills has hired Fry Inc. to design and host its new eCommerce web site for the sixth-generation, family-owned apparel and blanket manufacturing company, which will celebrate its 100th anniversary this year. Fry was purchased last year by MICROS Systems, and is part of the MICROS-Retail group. Founder David Fry continues