SAGINAW-AREA NEWS

The Latest Community, Education & Government News, Local Photos & Videos

When credit shrinks, spending sinks.

That's one way Saginaw Medical Federal Credit Union President and Chief Executive Officer Missey Kelly describes what many financial ex-perts call the worst crisis since the Great Depression.

"Most people buy on credit, and if it starts to tighten, consumer spending slows way down," said Kelley, discussing Wall Street's meltdown.

STANTON -- One man died and another suffered serious in an airplane crash in Montcalm County.

Royal E. Marsh, 60, of Hope, died when the single-engine, two-seater Cessna went down in a the back yard of a Richland Township home about 1:30 p.m. Saturday, sheriff's deputies said.

Doctors at Hurley Medical Center in Flint continue to treat the 37-year-old pilot, Joseph E. Hoffman, who remained in serious condition Sunday.

Valley Lutheran High School's homecoming theme, "Around the World," lived up to its Jules Verne-inspired title Saturday when a student arrived to the dance using an unusual mode of transportation.

Matt R. Helmreich, a 17-year-old senior, drove his date to the gala using his family's 2003 John Deere 8320 tractor.

"I'm sure a few of our friends are going to be surprised," he said before leaving for the dance.

Investigators say a "suspicious" blaze kept Saginaw firefighters busy early Saturday.

Fire Battalion Chief Jeffrey A. Martinez said a female tenant at 1933 Wilkins arrived after firefighters began to extinguish the flames about 3:20 a.m.

The blaze burned nearly two hours and inflicted $25,000 in damage, Martinez said.

That's one way Saginaw Medical Federal Credit Union President and Chief Executive Officer Missey Kelly describes what many financial experts call the worst crisis since the Great Depression.

"Most people buy on credit, and if it starts to tighten, consumer spending slows way down," said Kelley, discussing Wall Street's meltdown. "It's just crazy some of the limits people are carrying on their credit cards, but now the companies are really cutting back on what they're offering."

From shuttered homes to declining hot dog concession sales, the mid-Michigan economy is in a full-body cast as the blows keep on coming.

Aside from the economic crash and burn, Michigan regulators reported a 7 percent increase in residential natural gas shut-offs through June and a 39 percent rise in residential electricity terminations, the Associated Press reports.

The middle class is starting to worry about feeding and clothing families as savings dry up and retirements drift further away.

Confidence wanes

Investors should have 700 billion reasons to feel confident about the economy.

But they don't, and neither does the rest of America.

Mark A. Karls

Long before the economy began unraveling, Ames United Methodist Church operated on a "very lean" budget, the Rev. Mark A. Karls said.

"We have hardly any wiggle room, but we're doing fairly well at this point," Karls, 61, said. "But that's not to say things won't change in a month.

"Beyond that, as the son of a banker I was taught you save during good times so you'll be ready when rainy days come along. I do, however, know that one of the first things people reduce or cut all together is stuff they pay for with discretionary funds -- and for some people, giving to the church is discretionary."

Republican incumbent Dave Camp of Midland faces Democrat Andrew D. Concannon of Saginaw Township in the Tuesday, Nov. 4, general election for the U.S. House 4th District seat.

Allitta Hren, a Big Rapids Libertarian, and John Emerick, a Mount Pleasant member of the U.S. Taxpayers Party, also are running in the 14-county district that spans most of Saginaw County to Leelanau County in northwest Lower Michigan.

The event is at 7 p.m., Wednesday, Oct. 15, at Frankenmuth High School, 525 East Genesee. Several local and county candidates on the Tuesday, Nov. 4, ballot have received invitations, and the evening also will include a showing of the final presidential debate between Republican Sen. John McCain and Democrat Barack Obama.

The televised debate starts at 9 p.m. and lasts about 90 minutes.