Michigan Business

International and Local Small Business News on Economics & Finance

Regulators on Friday shut banks in Georgia, Michigan, Minnesota, Missouri, and California, bringing the number of bank failures this year to 120 amid the struggling economy and a cascade of defaults on loans. Full story »

The unemployment number masks the fact that job losses slowed compared to past months — the work force went down by 190,000 in October compared to 219,000 in September. Full story »

Company estimates the donation is worth at least $170,000.  Full story »

The move, which was expected, could help 100,000 Michigan residents whose benefits will be exhausted by the end of the year. Full story »

Sellner-Behr Corp. has added a $1 million polyester topcoat application machine to accommodate the project to its 125,000 square-foot factory in Alpine Township, the Grand Rapids Press reports. The township board has approved a 12-year tax break worth $24,000 for the equipment and other investments totaling $1.3 million. Full story »

The announcement follows a recent television news report that cast doubt over whether the project would ever materialize. A spokesman for the studio on Friday said the report was "completely false" and said the company has moved into the former building. Full story »

New postings on Ann Arbor SPARK's jobs board from the past week include positions with the University of Michigan, SUR Energy and mobile phone app developer Mobatech.  Full story »

President Barack Obama signed into law a $24 billion economic stimulus bill providing tax incentives to prospective homebuyers and extending unemployment benefits to the longtime jobless who have been left behind as the U.S. economy veers toward recovery. Full story »

The first-time home buyer credit was extended through June 30 and also includes existing homeowners. Full story »

Target and Amazon.com have matched Walmart's price drop. Will Meijer?  Full story »

Local supplier Sellner-Behr Corp. is trusted with a crafting wood veneer for luxury cars. Full story »

All three companies – Kamax LP in Lapeer and Mariah Power and Amptech Inc. in Manistee – plan to hire as part of the expansion plans. Together, the companies plan to create nearly 700 new jobs, Gov. Jennifer Granholm said in a statement.  Full story »

The Great Lake State, of course, had the nation's highest unemployment rate for September at 15.3 percent. And economists say a national recovery must occur to lift Michigan's economic boat. Yet there was little sign of that happening from the Labor Department report. Full story »

The unemployment rate has surpassed 10 percent for the first time since 1983 — and is likely to go higher. Full story »

Some people like the sound of the word "settlement," and want to see a proposal between government regulators and the Dow Chemical Co. proceed, to clean up pollution in the Saginaw River watershed and put the specter of dioxins to rest. Others think the pending settlement doesn't involve riverfront property owners enough in evaluating how a cleanup of the... Full story »