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Politics Rick Snyder

  • DETROIT, Aug 20- Republican presidential candidate Marco Rubio said on Thursday his plan to overhaul the U.S. tax code would help revitalize struggling manufacturing centers like Detroit, allowing companies to raise wages and workers to keep more of their paychecks. Speaking to the Detroit Economic Club, the senator from Florida said Detroit, which filed the...

  • UPDATE 1-Michigan's rating raised to Aa1 by Moody's Friday, 24 Jul 2015 | 3:06 PM ET

    July 24- Moody's Investors Service on Friday upgraded Michigan's general obligation bond rating by one notch to Aa1 with a stable outlook from Aa2, citing a robustly growing economy and an improvement in the state's financial position. The credit rating agency said the higher rating also reflects Michigan's role in helping financially struggling local...

  • July 21- Michigan's Wayne County, home to Detroit, is in a financial emergency due to chronic budget deficits and a big unfunded healthcare liability, a state-appointed review team announced on Tuesday. Wayne County Executive Warren Evans requested the review last month, asking the state for a fiscal emergency declaration and a consent agreement to fix...

  • 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...

  • 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.

  • Stuck in Reverse, Detroit Edges Closer to Bankruptcy Tuesday, 29 Jan 2013 | 1:58 AM ET
    Bentley GT Speed Convertible

    At the Detroit Auto Show earlier this month, luxury was in the air. Pricey new Bentleys and Maseratis glittered - including a Maserati 2014 Quattroporte with a $132,000 price tag; U.S. Cabinet Secretaries and dignitaries rubbed shoulders; and many of the well-heeled attendees ponied up for a $300-a-ticket black-tie charity ball.

  • How the GOP Engineered a Blow to the Unions Thursday, 13 Dec 2012 | 3:57 AM ET

    From outside Michigan Republican circles, it appeared that the Republican drive to weaken unions came out of the blue - proposed, passed and signed in a mere six days.

  • Michigan Now Right-to-Work State Wednesday, 12 Dec 2012 | 10:16 AM ET
    Michigan Now Right-to-Work State

    NBC's Ron Mott reports Gov. Rick Synder has signed two bills into law that many see as a major setback for big labor.