DETROIT - General Motors Corp. and the United Auto Workers reached an accord to reduce retiree health-care obligations and labor costs, clearing a major hurdle in the car maker's expected plan to rush through bankruptcy court in as little as 30 days. GM sought a UAW deal to cut by at least half the $20
LANSING - Another $194 million would be spent in federal stimulus dollars to Michigan under a supplemental appropriation passed out of the House Thursday. But some Republicans argued there isn't enough spending oversight included in the measure. HB 4308 , which passed on an 81-27 vote, is on the Senate Appropriations Committee schedule for next
AUBURN HILLS - Chrysler LLC selected C. Robert Kidder, former chairman of Borden Chemical and Duracell Chairman, to become chairman of a reorganized Chrysler. Kidder, currently the lead director of Morgan Stanley, will succeed Robert Nardelli, who will step down as chairman and chief executive when the auto maker emerges from Chapter 11 bankruptcy protection,
WASHINGTON - The Treasury Department is ready to inject more than $7 billion into GMAC to allow it to grants loans for car purchases at General Motors and Chrysler, The Wall Street Journal reported. The money would be the first installment of a new government aid package that could reach $14 billion in GMAC, which
REDMOND, Wa. - Microsoft Corp. is expected to show a new version of its Internet search engine next week, in a renewed effort by the company to compete against Google Inc., people familiar with the matter say. The software giant, these people say, plans to demonstrate its new search engine publicly for the first time
LANSING - The Legislature controls the fate of the North American International Auto Show, a Senate panel was told Wednesday. But while there is a chance the show could move to a location like Chicago or Los Angeles, the panel was also told every effort possible to keep the show in Michigan would be considered
YPSILANTI - Doug Given, a partner with Bay City Capital in San Francisco, toured the former Pfizer research lab in Ann Arbor before he gave his keynote speech at the Michigan Growth Capital Symposium and now calls it a "Rare Opportunity" for providing the biotech industry worldwide a one-stop shopping experience at the University of
LANSING - Despite the difficult economic times in Michigan, which has forced the state legislature to abandon the 21st Century Jobs Fund competition this year, Michigan must still play offense if it wants to grow its technology sector, which includes biotech, homeland security, clean technologies and advanced manufacturing, said Greg Main, new president of the
DETROIT - Great Lakes Angels, which once was housed in TechTown, is returning to the Wayne State University incubator. Rick Galdi, president of the angel investing group, gave this exclusive interview at the Michigan Growth Capital Symposium to MITechNews.Com Editor Mike Brennan. To listen, click on MITechNews.MediaRica.Com a>>
DETROIT - New Economy Initiative announced Monday it will invest $9.25 million over three years and work closely with the Ewing Marion Kauffman Foundation to help minority auto suppliers find new non-auto partners. The program will be based at Wayne State University's TechTown and help an estimated 800 entrepreneurs annually, creating an estimated 400 new