A Saginaw-based company is planning to hire hundreds of new employees over the next few months.
A battle is brewing in Washington over an extension of unemployment benefits – after a previous extension expired last month.
Over one million Americans lost their benefits on December 28, including 43,000 in Michigan.
When you think of what drives Michigan’s economy, you think of the automobile industry. But according to a report, higher education is an industry that is becoming just as important.
Officials met Monday, December third to finalize the agreement to move the historic Welcome ship from the Maritime Heritage Alliance of Traverse City to Emmet County.
The federal judge who allowed Detroit to proceed into bankruptcy also upheld Michigan’s emergency manager law as part of the decision. US Bankruptcy Judge Steven Rhodes said the law is constitutional, and Emergency Manager Kevyn Orr was legally named to run the city.
If Rhodes had ruled otherwise, the bankruptcy could have been derailed. The legal challenge said the state has no right to override the authority of local elected officials.
“The governor wouldn’t have signed it if he hadn’t thought it was constitutional, and he sees the benefit there in terms of helping the cities get back on their feet, turn around their finances, and get back on their feet,” says Dave Murray, a spokesman for Governor Rick Snyder.
In a written statement, the governor said the decision to allow the bankruptcy to go forward – and to put public employee pension benefits on the table – was the right one:
“Today, the federal court allowed Detroit to stay on the path toward a brighter future. A future where streetlights work and ambulances respond quickly. A future where crime and blight shrink, and where jobs and investments surge.
“Authorizing the emergency manager to seek federal bankruptcy protection was a difficult decision, but it was the last viable option to restore the city and provide Detroit’s 700,000 residents with the public services they need and deserve.
There are currently 15 cities and school districts in Michigan that are under emergency management or are being evaluated for possible takeovers. Three others are operating under consent agreements reached under the emergency manager law.
Union activist Robert Davis filed the challenge to the emergency manager law.
“I have the upmost respect for Judge Rhodes, but I respectfully disagree with his reasoning in regards to the constitiutionality of the emergency manager law,” said Davis. “I am very thankful that I belong to a fighting union that has already filed the necessary paperwork for an appeal in the Sixth Circuit (US) Court of Appeals.”
Michigan Council 25 of AFSCME, which is Detroit’s largest public employee union, filed the appeal.
State Attorney General Bill Schuette says he is pleased the bankruptcy was approved, but was disappointed public employee pensions will be part of the discussions:
“I will continue to aggressively defend pensions and Article 9, Section 24 of the Michigan Constitution as this case proceeds to the confirmation stage of the bankruptcy process, at which time we can thoroughly review any plans for potential legal action involving pensions.
Schuette says he will not use legal action to slow the bankruptcy process, but could file a lawsuit to challenge part of a re-organization plan to reduces already-promised pension benefits.
Michigan lawmakers are being urged to think differently, in a new report about how best to stimulate the state’s economy and move away from the legacy of budget cuts and tax breaks for businesses.
Central Michigan University has expanded it’s merit scholarship program to offer more scholarships and more money to the highest achieving incoming freshman.
Buffett is an advisor to Goldman Sachs’ 10,000 Small Businesses initiative, which is committing $15 million of capital to support small businesses in and around the city. Another $5 million will go to business training for Detroit entrepreneurs.
Despite Detroit’s historic bankruptcy filing, Buffett says the city has a “huge potential” for economic growth.
“You may need a reorganization plan,” said Buffett. “Exactly what it should be, I’m not an expert on that. But I do know that the resources in terms of the people, the businesses, the history, the culture are all here to have a great city in the future.”
“The United States with a flourishing Detroit is going to be a lot better United States than without one,” he said.
The announcement at Ford Field was a who’s who of business leaders and Michigan politicians. Buffett was joined by Governor Rick Snyder, Detroit Emergency Manager Kevyn Orr, members of Michigan’s congressional delegation, White House officials, and many more.
Goldman Sachs CEO Lloyd Blankfein said the company would not invest in Detroit if it didn’t believe the city will make a comeback.
“It wasn’t a great city. It was the greatest industrial city in the country – probably the world,” said Blankfein. “And so, I would not bet against it, I’d bet for it, and that’s what we’re doing here.”
Businesses interested in the 10,000 Small Businesses program have until January 6th to apply.
Click here too view information on the 10,000 Small Businesses initiative http://10ksbdetroit.com/
The city of Midland was among eight Michigan Cities recognized with an eCity award that names them a 5-Star city.
Michigan is adding jobs, but the state’s unemployment rate remains stuck at 9 percent as more people compete for available positions. That’s according to the latest jobless numbers from the Michigan Bureau of Labor Market Information and Strategic Initiatives.