Lansing, MI – Lansing, MI - The Lansing Lugnuts earned a doubleheader split with the Burlington Bees with a 7-2 victory in the nightcap following a 4-2 loss in Game 1 last night. Tonight at 7:05 p.m. at Oldsmobile Park, the Lugnuts open up a three-game series with the Quad Cities River Bandits.
Detroit, MI – Detroit, MI (AP) - United Auto Workers President Ron Gettelfinger says General Motors Corp. has agreed to build subcompact cars in one of its existing U.S. factories and will not produce cars in China for sale here.
Gettelfinger said in a telephone interview with The Associated Press Thursday that the factory deal is part of a larger concession package with GM that union members are voting on this week.
Lansing, MI – Lansing, MI (MPRN) - The state Senate passed a package of bills yesterday designed to hand control of Cobo Hall to a regional authority, rather than the city of Detroit.
Senate Democrats voted against the package. The legislation would allow for nearly $300 million in tax revenue to be used to at another convention center in Southeast Michigan, if an agreement on how to renovate Cobo cannot be reached.
DETROIT – DETROIT (AP) - General Motors Corp. says a committee of bondholders has agreed to a sweetened deal to erase some of the automaker's debt in exchange for company stock.
The company said in a statement Thursday that it offered bondholders 10 percent of the company's stock with warrants to buy up to 15 percent if they agree to support selling the company's assets to a new company under bankruptcy court protection.
The company made the disclosure in a filing with the U.S. Securities and Exchange Commission.
VAN BUREN TOWNSHIP, MI – VAN BUREN TOWNSHIP, MI (AP) - Auto parts supplier Visteon says it -- along with some of its U.S. units -- has filed for Chapter 11 bankruptcy protection.
This comes as the company struggles with reduced demand from automakers amid plans for extended plant shutdowns this summer.
The company filed its petition in the U.S. Bankruptcy Court for the District of Delaware. The company's Visteon UK unit separately filed for bankruptcy protection last month and closed three British plants.
(Detroit, MI) – (Detroit, MI) - AP A person briefed on General Motors Corp.'s plans says the company on Monday will identify the 14 factories it will close as it heads toward an a likely Chapter 11 bankruptcy protection filing.
The person says United Auto Workers officials in Detroit have told plant-level union leaders that the company will make the announcement, not the union. The person did not want to be identified because the plan has not been made public.
GM spokeswoman Sherri Childers Arb would not comment on Thursday.