WASHINGTON - The Obama administration on Tuesday plans to order auto makers to increase the overall fuel economy of automobiles sold in the U.S. to 35 miles per gallon by 2016, four years faster than current federal law requires, people familiar with the matter told The Wall Street Journal. The move is part of a
LANSING - It seems all anybody wants to know is when the national recession will bottom out, but unfortunately even answers to that question were on shaky ground Friday as Michigan deals with the bankruptcy of part of the domestic auto industry. While there is some indication the national recession is on its way out,
LANSING - While there are hints a national recession may be drawing to a close, uncertainty surrounding what the recovery will be like and whether the domestic auto industry will rebound cast a gloomy picture for state revenues as members of the Revenue Estimating Conference downgraded the budget outlook by $1.7 billion for the fiscal
NEW YORK - Economists in the latest Wall Street Journal survey see an end to the recession by autumn, but say it will take years for the economy to fully recover. On average, the 52 economists who participated in the survey project that the recession will end in August. They expect gross domestic product to
DETROIT - Business software and services provider Compuware Corp. said its fiscal fourth-quarter profit declined as revenue dropped sharply. For the three months ended March 31, the company earned $48.4 million, or 20 cents per share, down 21 percent from $61.2 million, or 23 cents per share, in the same period a year earlier. Revenue
DETROIT - General Motors Corp., under the direction of the U.S. Treasury, is near a deal that would cut its hourly labor costs by more than $1 billion a year and reduce its $20 billion pledge to the United Auto Workers to cover health-care obligations, people familiar with the matter told The Wall Street Journal.
DETROIT - Just a day after its stock price dropped to levels not seen since 1933 and its bonds tumbled to record lows as well, we may have our clearest sign so far that General Motors is inching closer to bankruptcy. Today in the Free Press we're reporting that the company has moved up some
DETROIT - The New Economy Initiative, in partnership with The Kauffman Foundation, on May 18 will announce at TechTown an exciting and aggressive initiative to assist regional automotive suppliers and help rapidly grow entrepreneurship in Michigan. In a state with the highest unemployment rate in the country and further job losses expected, there is a
LANSING - Another report on Tuesday, this one from engineers, assessed the substandard condition of Michigan's roads, transit, water, the electric grid and other infrastructure systems, but the launch of a specific plan to raise the needed funds for transportation purposes is not expected until Thursday when legislation is to be introduced that doubles vehicle
LANSING - Michigan has 109,067 jobs tied to the green economy, and that number is growing, state and federal officials said on the release of a study by the Department of Energy, Labor and Economic Growth. Based on surveys of 358 of those green economy companies, there was 7.7 percent employment growth in the sector