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Rick Snyder

  • They're popular in Grand Rapids, Traverse City and Marquette, especially as a way to visit small breweries. Laurie Ryan, owner of the Great Lakes Pub Cruiser in Grand Rapids, said the cost of liability insurance for her 15- seat trolley would double. In Marquette, in the Upper Peninsula, the owner of U.P.

  • State finds probable financial stress in Wayne County Wednesday, 1 Jul 2015 | 3:22 PM ET

    DETROIT— A state board that examined a preliminary review of Wayne County's finances said Wednesday the entity is operating under probable financial stress. Khouri chairs the Local Emergency Financial Assistance Loan Board, which looked at the Treasury Department's two-week review before announcing its ruling in Lansing. Wayne County has about 1.7...

  • May 20- Michigan's seasonally adjusted unemployment rate fell to 5.4 percent in April, matching the national jobless rate for the first time since September 2000, Governor Rick Snyder said on Wednesday. Michigan's rate for last month dipped to 5.4 percent from 5.6 percent in March. "Reaching the national average after being dead last has been a priority as we've...

  • Detroit delays bond sale related to bankruptcy exit Monday, 11 May 2015 | 6:02 PM ET

    Detroit is taking advantage of a new law that should give the bonds investment-grade ratings that could save the city between $20 million and $30 million over the life of the issue, according to the office of Michigan Governor Rick Snyder, a Republican. Detroit privately placed $275 million of variable-rate bonds with Barclays Capital to finance its Dec. 10...

  • Michigan voters reject $1.9 bln road repair measure Wednesday, 6 May 2015 | 2:26 AM ET

    DETROIT May 6- Michigan voters Tuesday rejected a ballot proposal to hike the state sales tax to pay for fixing the state's crumbling roads and bridges. The final vote reported by the Michigan Secretary of State's office was 80 percent opposed, and 20 percent in favor. The plague of potholes in the state that's home to auto giants General Motors Co and Ford Motor Co...

  • Michigan governor signs bill to aid Detroit bond sale Wednesday, 22 Apr 2015 | 4:23 PM ET

    April 22- Michigan Governor Rick Snyder on Wednesday signed into law a bill aimed at reducing interest rate costs for an upcoming Detroit bond sale. Detroit privately placed $275 million of variable-rate bonds with Barclays Capital to finance its Dec. 10 exit from the biggest-ever municipal bankruptcy. The move is expected to result in investment-grade...

  • Feb 12- The federal judge who oversaw Detroit's historic bankruptcy case ruled on Thursday that the nearly $178 million charged to the city by law firms and consultants for fees and expenses was reasonable. The biggest bill in the biggest-ever U.S. municipal bankruptcy came from law firm Jones Day, which had employed Kevyn Orr before he was tapped by Michigan...

  • Jan 16- Michigan's general fund revenue will drop by $325 million in the current fiscal year due to triggered corporate tax breaks, state officials said on Friday. A consensus revenue estimate reached by Michigan's treasurer, budget director and heads of the House and Senate fiscal agencies projected fiscal 2015 general fund revenue at $9.5 billion, which is...

  • WASHINGTON, Jan 13- Michigan Governor Rick Snyder appointed a new emergency manager to Detroit Public Schools on Tuesday, a fresh attempt at fixing budget problems that span nearly a decade. Darnell Earley, emergency manager of the nearby town of Flint since September 2013, immediately replaced Jack Martin, who has completed his 18- month tenure of managing the...

  • Jan 12- Michigan Governor Rick Snyder on Monday signed into law legislation that would raise about $1.3 billion a year to fix the state's deteriorating roads and bridges if voters agree. The amendment would also raise the sales tax by 1 percentage point to 7 percent, providing a $300 million annual revenue boost for schools and $94 million for local governments.

  • Judge approves Detroit bankruptcy exit plan Friday, 7 Nov 2014 | 2:59 PM ET
    Cars drive down Grand River Avenue in Detroit with the city's skyline in the background.

    A U.S. judge confirmed the Detroit plan to adjust its debt and exit the biggest-ever municipal bankruptcy on Friday.

  • In gubernatorial races, it's the economy, 'stupid' Tuesday, 24 Jun 2014 | 4:48 PM ET
    Scott Walker

    In 36 states electing governors, it's all about the economy. Governors seeking re-election promised to turn things around. Have they?

  • Save cities or let them go bankrupt? Tuesday, 29 Oct 2013 | 8:36 AM ET
    People, mostly union and retired city workers, protest in front of the U.S. Courthouse where Detroit's bankruptcy eligibility trial began this morning October 23, 2013 in Detroit.

    Some cities may need to be pushed into bankruptcy, while others may just need a healthy dose of private-sector medicine, said TransPro Consulting CEO Mark Aesch.

  • Detroit can't wait for federal cavalry, Orr says Sunday, 21 Jul 2013 | 4:31 PM ET
    The skyline of Detroit

    Detroit must dig itself out of the hole it created and cannot wait to see if the federal government will come to its rescue, the city's emergency manager said on Sunday.

  • Who's living large in Michigan? The governor. Thursday, 18 Jul 2013 | 1:57 PM ET

    Twenty-two U.S. governors make over $140,500 a year, and they've been investing in some impressive digs. Click ahead to take a peek at the homes of some top-paid governors.

  • Six Weeks Key to Deciding Detroit's Bankruptcy Fate Sunday, 19 May 2013 | 5:24 PM ET

    There's a lot on the agenda as Detroit's emergency financial manager tries to meet a deadline to decide whether the city and escape a bankruptcy filing.

  • Michigan Lottery Winners Still Cash in on Welfare Wednesday, 17 Apr 2013 | 10:30 AM ET
    Goodwill had warned of "catastrophic" consequences on the secondary market.

    In Michigan, more than 3,500 lottery winners are also on public assistance, drawing attention to waste in a state still reeling from the nation's economic downturn.

  • S&P Gives Detroit Takeover the Thumbs Up Friday, 15 Mar 2013 | 5:15 PM ET
    Michigan Governor Rick Snyder and Detroit Mayor Dave Bing

    Standard & Poor's on Friday showed its support for Michigan's takeover of Detroit by upgrading the city's credit rating to "stable" from "negative."

  • Bankruptcy Lawyer Tapped to Run Detroit Thursday, 14 Mar 2013 | 4:05 PM ET
    Kevyn Orr

    Bankruptcy lawyer Kevyn Orr was named Detroit's emergency financial manager.

  • Auto Bankruptcy Lawyer Next Detroit Manager: Source Tuesday, 12 Mar 2013 | 4:34 PM ET
    Michigan Governor Rick Snyder and Detroit Mayor Dave Bing

    Kevyn Orr, the attorney who managed Chrysler's 2009 bankruptcy, is reportedly Michigan Gov. Rick Snyder's top pick to be Detroit's financial emergency manager.