General Motors Corp. says its preparing to launch a public bond-exchange offer that would let the company start slashing its debt, even without an agreement from a committee of large institutional bondholders.
The Detroit automaker has been working on a plan to wipe out most of its $28 billion unsecured debt by June 1 to avoid bankruptcy.
Lansing, MI – Lansing, MI (AP) - Michigan's unemployment rate jumped to 12.6% in March, up from 12% the month before.
The higher number is likely to keep Michigan in the spotlight as the state with the nation's worst unemployment rate.
The national unemployment rate in March was 8.5%.
The state Department of Energy, Labor and Economic Development said Wednesday that the weakness in the auto industry along with the national recession have "severely affected" Michigan's labor market over the past year.
East Lansing, MI – East Lansing, MI (MPRN) - Detroit Mayor Ken Cockrel has asked the state Court of Appeals to clear the way for transferring the downtown Cobo Center from the city to a regional authority.
The mayor is embroiled in a fight with the city council, which is trying to block the deal. A judge in Detroit just upheld the council's position.
Council members say the city wasn't getting enough for giving up the convention center that is home to the North American International Auto Show.
East Lansing, MI – East Lansing, MI (WKAR) - The organization governing soccer in the United States has invited three Michigan venues to express their level of interest in hosting potential World Cup matches.
U.S. soccer is bidding to host the World Cup in either 2018 or 2022.
U.S. Soccer included Ford Field in Detroit, Spartan Stadium in East Lansing, and Michigan Stadium in Ann Arbor among 70 venues they would like to consider.
East Lansing, MI – East Lansing, MI (WKAR) - The Masters golf tournament tees off Thursday at the legendary Augusta National Golf Club in Georgia.
One of the amateurs invited to play in the first major tournament of the year is Jack Newman, a junior on the Michigan State University golf team. It's the first time a golfer from MSU has qualified to play in the Masters.