The Michigan Democrat is the former chairman of the House Energy and Commerce Committee and has been a staunch advocate for the auto industry.» Read More
NEW YORK, Oct 25- U.S. stock index futures rose on Thursday, indicating the S&P 500 may rebound from its worst five-day slide in five months, on optimism China's economy may be recovering and ahead of a flurry of economic data and corporate earnings.
AutoNation Inc. CEO Mike Jackson said people who held onto their cars through the Great Recession in 2008 and 2009 now have to make a choice between sinking thousands into repairing old vehicles or buying new ones.
BLOOMFIELD HILLS, Mich.-- Rising orders for new homes and rising prices hurtled PulteGroup back into a profitable third quarter, its best since before the real estate market crashed. PulteGroup, free of a hefty impairment charge it recorded last year, breezed past Wall Street expectations and the average selling price climbed 6 percent to $279,000.
DETROIT-- AutoNation Inc., the country's largest auto dealership chain, said Thursday that its third-quarter net income rose more than 15 percent as it benefited from the continued rebound in U.S. new-car sales. The Fort Lauderdale, Fla., company said it earned $81.6 million, or 66 cents per share, in the quarter ended Sept. 30.
ANN ARBOR, Mich.-- Fourteen Middle Eastern and North African entrepreneurs are at the University of Michigan as part of a State Department- sponsored program that partners university experts with area community organizations. The program participants are from Algeria, Egypt, Israel, Morocco and Tunisia.
PONTIAC, Michigan, Oct 24- General Motors Co said the redesigned 2014 Chevrolet Corvette that goes on sale next year will get a new 450- horsepower V8 engine.
BERLIN-- German automaker Daimler AG lowered its full-year earnings target Wednesday after its third quarter net profit declined 11 percent to 1.20 billion from 1.36 billion a year ago.
John Kasich warned Wednesday of an economic slowdown happening in the swing state ahead the presidential election, even as Huntington bank announced it is bringing 250 jobs to Ohio.
MONTCLAIR, N.J.-- Across New Jersey, most communities approached about hosting one of the state's first legal medical marijuana dispensaries in out-of-the-way industrial zones have just said no, after outpourings of public opposition.
General Motors, which owns the Chevrolet brand, unveiled the new 6.2- liter V-8 on Wednesday. The new version of the Corvette will be unveiled at January's North American International Auto Show in Detroit. The sleek sports car has been an icon of Detroit muscle since its debut in 1953..
NEW YORK-- Ally Financial Inc.' s mortgage lending and servicing subsidiary has given preliminary approval to a $3 billion buyout offer from a unit of Ocwen Financial Corp..
LORDSTOWN, Ohio-- President Barack Obama's decision to help America's automakers could end up being what helps drive him back into the White House.
HARTFORD, Conn.-- Federal regulators say a pilot study of cancer risks posed to residents near seven nuclear power sites in the United States will update 22- year-old data, but an industry group says the study won't come up with anything new.
THE SPARK: Goldman Sachs analyst Joshua Pollard raised his rating on Whirlpool to "Buy" from "Sell" and nearly doubled his six-month price target on the shares, raising it to $110 from $57. THE BACKGROUND: On Tuesday Whirlpool Corp.' s stock touched $94.34, the highest level since July 2010.
MONROE, Mich.-- Steelmaker Gerdau is unveiling new machinery at a Michigan steel facility as part of the company's ongoing expansion. The company on Wednesday is marking the completion of construction of a continuous caster at its North American special steel facility in Monroe, about 35 miles southwest of Detroit.
Oct 24- Victims of a deadly U.S. meningitis outbreak are starting to sue the physicians and clinics that administered tainted steroid shots, and the success of the suits could hinge on whether judges decide the injections are subject to product liability or medical malpractice laws.
DETROIT-- Arts groups in Detroit will share nearly $20 million donated by the John S. and James L. Knight Foundation, including $9 million to be awarded through a communitywide contest to boost the city's best arts ideas, the foundation announced Tuesday.
MIDLAND, Mich.-- Shares of Dow Chemical jumped 6 percent in premarket trading Wednesday after the company announced significant restructuring plans.
DETROIT-- Goodyear Tire& Rubber Co. faced a challenging third quarter in a sputtering economy, and its results could reflect that when they are released before the markets open on Friday.
*Dow Chemical to cut 2,400 jobs, close 20 plants. NEW YORK, Oct 23- Dow Chemical Co, the largest chemical maker in the United States, said on Tuesday it plans to cut 5 percent of its workforce and shutter 20 plants as part of a restructuring program aimed at countering a slowing global economy.