LANSING, Mich.— Fiat Chrysler will have to spend an additional $1 billion on Michigan facilities over 15 years to qualify for $1.9 billion in business tax credits under an agreement approved Tuesday by the state's economic development board. The deal, the second with a Detroit Three automaker this year, is designed to help Michigan get a better handle on billions...
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...
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...
A U.S. judge confirmed the Detroit plan to adjust its debt and exit the biggest-ever municipal bankruptcy on Friday.
In 36 states electing governors, it's all about the economy. Governors seeking re-election promised to turn things around. Have they?
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 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.
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.
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.
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.
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 Kevyn Orr was named Detroit's emergency financial manager.
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.
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.
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.
NBC's Ron Mott reports Gov. Rick Synder has signed two bills into law that many see as a major setback for big labor.
But times are tough for unions in the Rust Belt, even in a longtime bastion like Michigan.
In exchange for operating as the state's so-called insurer of last resort _ meaning it must provide insurance coverage regardless of a customer's health status _ Blue Cross has been exempt from paying several local and state taxes.
Transportation Secretary Ray LaHood says he's ready to start funding a light rail passenger line and fast bus lines in the Detroit area if state and regional officials can finally work together on ending the metro area's status as the nation's largest without mass transit.