Despite a host of negative publicity, the university is positioned to play a "critical role" in helping Michigan's economy get back on track, said new EMU President Susan Martin.

The BlueWater Angels have reviewed 77 business plans since forming earlier this year, administrator Brent Case said, and now has a term sheet prepared for potential investment in one of those. Like many of the start-up and entrepreneurial companies seeking financing from the group, he said, that one is an Internet-based company.

Special: Oakland's Top 10 commercial construction projects
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The subscription network service may be growing quickly because there's nothing else like it, as far as owners Jason Carpenter and Doug Huyser of Classic Labs in Grand Rapid know. It works something like an Internet social network for construction projects.