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Flagstar may have to sell collection contracts at loss - report
Published Thursday, Aug. 20, 2009
Flagstar Bancorp Inc (FBC.N), one of the largest savings and loans based in the U.S. Midwest, may have to sell some of its $658 million of mortgage-collection contracts at a loss, Bloomberg reported.
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AEP Mich. Cook 2 reactor exits outage, back at full
Published Tuesday, Aug. 11, 2009
American Electric Power Co Inc's (AEP.N) 1,060-megawatt Unit 2 at the Cook nuclear power station in Michigan exited an outage and ramped up to full power by early Monday, the U.S. Nuclear Regulatory Commission said in a report.
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U.S. auto workers seek to retrain for scarce new jobs
Published Tuesday, Aug. 4, 2009
After more than a century of making cars, the U.S. state of Michigan is retraining thousands of unemployed workers for new careers now that many of their jobs may be gone for good.
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Westcast battered by recession, Detroit woes
Published Thursday, July 30, 2009
Wescast Industries Inc (WCSa.TO) reported a larger-than-expected second-quarter loss on Wednesday as the troubles at the big Detroit-based automakers ate into business and sales slumped 44 percent.
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AEP shuts Mich. Cook 2 reactor
Published Tuesday, July 28, 2009
American Electric Power Co Inc (AEP.N) shut the 1,060-megawatt Unit 2 at the Cook nuclear power station in Michigan on July 26 due to a reactor coolant pump seal malfunction, the company told the U.S. Nuclear Regulatory Commission in a report.
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Midwest governors OK pact for high-speed rail push
Published Tuesday, July 28, 2009
The prospect of billions of dollars in federal money to spur high-speed rail has united eight U.S. Midwest governors who announced on Monday an agreement to work together to obtain that funding.
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Some shrinking U.S. cities find splendor in green
Published Tuesday, July 21, 2009
For some U.S. Rust Belt cities, the future will be smaller and greener.
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Delphi bankruptcy auction postponed
Published Saturday, July 18, 2009
An auction for Delphi Corp (DPHIQ.PK) was postponed on Friday giving its bankruptcy lenders more time to complete a bid and avoid a showdown over an alternate deal brokered by the Obama administration.
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Fitch downgrades Michigan on auto industry woes
Published Saturday, July 11, 2009
Citing concerns about the "significant deterioration" of Michigan's economy, Fitch Ratings downgraded the state's general obligation ratings on Friday by one notch to A-plus, the fifth-highest investment grade level, from AA-minus.
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Mogul considering Delphi bid: sources
Published Thursday, July 9, 2009
Federal-Mogul Corp (FDML.O) is readying a renewed bid for the assets of Delphi Corp (DPHIQ.PK) after breaking off talks with the bankrupt auto parts maker in late May, three people with knowledge of the situation said on Tuesday.
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Lear Corp details post-bankruptcy balance sheet
Published Tuesday, July 7, 2009
Auto seating supplier Lear Corp (LEAR.PK) said on Monday it planned to convert $3.6 billion in debt into a combination of new debt, convertible stock and equity warrants under a planned reorganization in bankruptcy.
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Pontiac, Michigan feels brunt of GM's pain
Published Tuesday, June 30, 2009
The decline of U.S. automakers has for years affected those who live in Pontiac.
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Michigan offers to house California inmates
Published Tuesday, June 30, 2009
Michigan has to close prisons to save money. California's are bursting at the seams.
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GE sets Michigan research site
Published Saturday, June 27, 2009
General Electric Co plans to open a research center in the economically ailing U.S. state of Michigan, in a bid to boost its technology and software presence in its home country.
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GM picks Michigan for new small car plant
Published Saturday, June 27, 2009
General Motors Corp will build a new small car at a plant near Detroit in a move that will save 1,400 jobs in Michigan but shutter plants in Wisconsin and Tennessee.
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