America's First Big-City Bankruptcy of 2013
For the time being at least, Detroit can claim the distinction of having been the biggest U.S. city to ever go completely bust.
Michigan
More States Join Lawsuit Challenging CFPB and Dodd-Frank
Eight more states have joined a lawsuit aimed at challenging the constitutionality of parts of the Dodd-Frank Wall Street Reform and Consumer Protection Act, including the creation of the Consumer Financial Protection Bureau.
Chrysler Reports Best Sales Year Since Before the Great Recession
Chrysler's U.S. sales jumped 21 percent last year, the carmaker's strongest performance since 2007. The company's sales growth, which outpaced the U.S. auto industry overall, was a strong sign that Americans were feeling more confident about the economy last year.
The 6 Biggest Busted Bets of 2012
As pundits and politicians rush to sew the year up into a neat little bundle, we decided to look at 2012 from a slightly different angle. Here is our list of the year's worst bets -- six developments that seemed like sure things in January, but were bust by December.
The 9 Most Important Financial Stories of 2012
Sometimes the most important news stories get overshadowed by short-term crises and teakettle tempests. With that in mind, we at DailyFinance decided to take a look back at the nine stories of 2012 that are likely to have the biggest impact on your wallet in the year ahead.
No, Mr. Romney: Jeep Is Not Moving All Its Factories to China
Republican presidential candidate Mitt Romney told a crowd in Defiance, Ohio, on Thursday that Chrysler was considering moving "all production" of its iconic Jeep lineup to China. There's just one problem: It's not true.
Thousands Fall Victim to Utility Payment Scam
As much as President Barack Obama wants your vote, he won't pay your electric bill. But thousands of Americans have been persuaded otherwise, falling victim to a scam that claims to be part of an federal program to help pay utility bills in the midst of this scorching summer.
Huge Mich. Oil Spill Caused by Corporate Neglect, Inaction
Federal investigators say Canadian company Enbridge's neglect of cracks in one of its oil pipelines and its slow response to a 2010 rupture in southwestern Michigan caused the most expensive onshore spill in U.S. history.
Meet the 12 People Who Have to Fix the U.S. Budget
There has been a pleasant lull in reporting about the debt ceiling and budget debate, but don't let the quiet fool you. Right now, 11 men and one woman are crafting a plan to reduce the federal budget deficit by $1.5 trillion over 10 years. They are the members of the Joint Select Committee on Deficit Reduction -- aka, the Deficit Supercommittee.
Jackpot! States With Biggest Lottery Payouts
Lotteries are big businesses in most states, and they can provide windfalls for both the winning ticket-holders and state coffers. But which states give the most back to ticket-holders and through government services?
Highest U.S. Underemployment Rates: Illinois, California and Michigan
Unemployment has been slipping, according to a new U.S. Labor Department report Friday. But what about underemployment? According to a new Gallup poll released Friday, national underemployment averaged 19% last year, and Illinois, California and Michigan had the highest rates.
Obama Wants to Use WiFi to Cut the U.S. Budget Deficit
U.S. President Barack Obama on Thursday proposed that the government auction off its portion of the wireless spectrum to private companies to boost access to high-speed Internet and cut the federal budget deficit.
Ethanol, the Next Generation: Corn Is Out, Cellulose Is In
It has become clear to politicians and scientists that corn-based ethanol isn't the solution for creating a home-grown fuel source. Enter "cellulosic ethanol," made from wood chips, weeds or algae. Could it be the fuel of the future?
Ford to Introduce Electric Focus in Key U.S. Markets in Late 2011
The automaker plans to roll out its first all-electric passenger car in 20 U.S. cities late next year.
General Motors Plans to Add 600 Jobs at Michigan Plant
General Motors plans to invest $190 million in its Lansing Grand River assembly plant where it will build a new Cadillac model, resulting in 600 new jobs and the addition of a second shift.
Michigan Grants Big Three Automakers Billions in Tax Breaks for New Projects
Ford, General Motors and Chrysler have been granted a combined $2.1 billion in tax breaks to invest in 17 new projects in Michigan, the state's economic development agency said Tuesday.
Unemployment in Some States Near Record Highs
The Bureau of Labor Statistics data on regional and state unemployment for September shows jobless rates remain uneven. Nevada and Michigan have been particularly hard hit, with no relief in sight.
Blue Cross Michigan Sued by Justice Department in Antitrust Case
Blue Cross Blue Shield of Michigan has been sued by the U.S. Justice Department for what regulators say are actions by the insurer that boost both hospital and consumer costs while stifling competition.
GM Unveils Plans for New Compact Buick Sedan
General Motors unveiled plans Thursday to build a new compact Buick sedan at an idled plant in Michigan that once built Pontiacs. The automaker will invest $145 million to retool the Orion Assembly plant, which will build the new Buick Verano sedan as well as a yet-unnamed small Chevrolet car, GM said during a press briefing at the plant, about 40 miles north of Detroit.
Will Michigan Pick the Tough Nerd or the Angry Mayor?
After Tuesday's primary, the governor's race in Michigan sounds like a battle between comic book villains. The GOP's Rick Snyder, former head of Gateway Computer, calls himself "one tough nerd." His Democratic foe, Lansing Mayor Virg Bernero, has the nickname "America's Angriest Mayor."
New Solar Panel Factory Will Rise in Oregon
Oregon is the latest state to notch a big win in the effort to attract green jobs: Silicon Valley solar company Solexant has announced plans to build a large factory to produce thin-film solar panels near Portland. Oregon gets jobs; Solexant gets a $25 million loan and $18.75 million in tax credits.
Ford Sweeps Auto Awards in Detroit
Ford Motor added more feathers to its cap Monday by sweeping two industry awards. It's Fusion Hybrid mid-sized sedan was named 2010 North American Car of the Year, while its Transit Connect fleet vehicle took truck of the year.