WASHINGTON - The Bush administration is seriously considering orderly bankruptcy as a way of dealing with the desperately ailing U.S. auto industry. The Associated Press reported White House press secretary Dana Perino said Thursday, "There's an orderly way to do bankruptcies that provides for more of a soft landing. I think that's what we would
PLEASANT RIDGE - As yet another sign of a deepening recession nationwide, interactive promotions agency ePrize earlier this month laid off about 20 people from across the company to be "proactive and keep our costs down," CEO Josh Linkner said in an interview Tuesday. Linkner declined to say how much money the company would save,
LANSING - Spending by the 50 states is expected to decline in fiscal 2009, the first such cumulative decline in 25 years, said a report issued on Monday by the National Governors Association and the National Association of State Budget Officers. The report is the latest evidence of extraordinary fiscal distress stretching across all the
LANSING - Hemlock Semiconductor with a $1 billion expansion near Saginaw heads a list of 20 companies, aided by state incentives, which are investing $2.3 billion in projects around the state. The much-anticipated Hemlock facility, producing innovative solar energy panels, is part of an expansion that the company split between Michigan and Tennessee, where a
DETROIT - Another day and still no money from the White House. But all the major wire services report it will likely happen Wednesday. The AP quotes Michigan Senator Carl Levin as saying GM will get $8 billion, Chrysler will get $7, and Treasury Secretary Henry Paulson will be the car czar. The AP reports
DETROIT - Detroit's automakers are sitting on pins and needles as they await word from the White House on getting a bridge loan. While the Bush Administration says help will be forthcoming, nothing has happened yet. Maybe manana. The delay indicates there's some heavy-duty horse trading going on amongst all the parties involved. So look
HOLLAND ? It's a trip to the past for IT hiring in West Michigan for the next six months, with tech hiring forecasts back at levels not seen since 2002, Paragon Recruiting contends in its latest hiring forecast. The latest survey shows 20 percent of West Michigan companies plan to hire IT staff through June
DETROIT ? The Detroit Media Partnership L.P., which operates the Detroit Free Press and the Detroit News, is expected to announce next week that it will cease home delivery of the papers' print editions on most days of the week, according to the Wall Street Journal. Detroit Media has not made a final decision, these
WASHINGTON - The White House reversed course Friday and said it would consider using the $700 billion financial-rescue plan to avert a bankruptcy of the Detroit 3 automakers, which could deepen the U.S. recession. The announcement came hours after negotiations collapsed in Congress over a compromise bailout plan fiercely opposed by Senate Republicans, primarily from
DETROIT - One down and one to go. The House of Representatives passed the legislation to provide a $15 billion bridge loan to GM and Chrysler before the end of the year. But now it has to be approved in the Senate where its future is very uncertain. A cadre of conservative Republicans, led by