Tagged: morning news roundup

Chrysler to Repay Government Loans

Chrysler is expected to pay back its federal loans in full today. Michigan Radio’s Tracy Samilton reports:

Chrysler will wire-transfer nearly $6 billion to the U.S. Treasury and $1.5 billion to the governments of Canada and Ontario. Chrysler used some cash from Fiat for the transaction - and refinanced the rest with loans from private banks and investors.The U.S. Treasury still holds about eight and a half percent of Chrysler stock. Fiat could end up buying that stock in the future. As of today, Fiat owns forty-six percent of Chrysler

Crime in Michigan's Largest Cities

The FBI released its preliminary Uniform Crime Report yesterday. The report lists crimes reported in cities with more than 100,000 people. The report shows a decrease in violent crimes in Detroit from 18,000 in 2009 to 17,000 in 2010. Flint, however, had the highest violent crime rate in the nation last year, according to the data. Flint set a record for homicides in 2010.

Plan to Stop the Carp

A new plan has been released by federal and state officials on how to deal with the threat of Asian Carp, an invasive species that many worry could destroy the Great Lakes’ eco-system. Michigan Radio’s Steve Carmody reports:

The plan includes stepping up tracking of the invasive fish species and contracting with Illinois fishermen to catch the carp before they can reach Lake Michigan. Michigan Senator Debbie Stabenow says the best way to prevent Asian Carp from reaching Lake Michigan is to close man-made canals linking the Great Lakes with the Mississippi River. Illinois business interests and politicians are opposed to closing the canals.

Al-Qaida Bomber Leaves a Fingerprint

The FBI has a fingerprint and forensic evidence linking al-Qaida's top bomb maker in Yemen to both the 2009 Christmas Day airline attack and the nearly successful attack on cargo planes last year, the Associated Press reports. From the AP:

Investigators have pulled a fingerprint of Ibrahim al-Asiri off the bomb hidden in the underwear of a Nigerian man accused of trying to blow up a plane over Detroit on Christmas Day. Counterterrorism officials say the explosives in that bomb are chemically identical to those hidden inside two printers that were shipped from Yemen to the U.S. last year.

Budget Negotiations

Lawmakers at the state Capitol will continue today to resolve the differences between their various state budgets. The Associated Press reports:

Joint panels of House and Senate members are scheduled to begin formal conferences on the budget Wednesday and Thursday.

The House and Senate have approved different versions of the next budget and compromises must be reached before a spending plan can become law.

A key factor for the overall budget plan will be determining how deep to cut state aid to K-12 schools. Gov. Rick Snyder has proposed an additional $300 per student cut for the fiscal year that starts in October, on top of a $170 per student cut that's already on the books.

Some Senate Republicans are among the many lawmakers seeking to make the school cuts less deep.

Cities want Emergency Managers?

Jackson’s Mayor has asked the state to review the city’s finances. Michigan Radio’s Tracy Samilton reports that’s the first step towards the state appointing an Emergency Manager for the city. From Samilton:

Mayor Karen Dunigan says the city needs the state’s help, even though it has a balanced budget.  She says the budget covers payroll and not much else, and meanwhile, the city has $80-million in debt, with no plan to pay anything on the debt except the interest expenses. The state has also been asked to look at Allen Park’s finances, and Flint’s Mayor says he wants a state review, too. A new state law allows an Emergency Manager to set aside union contracts, along with elected officials' powers.

Obama Job Approval

A new poll finds President Obama's favorability rose among Michigan voters after Osama bin Laden's death. But, as the Associated Press reports, the poll, “finds that most state voters are unhappy with how he's handling the economy. The EPIC-MRA poll released Tuesday showed 53 percent of 600 likely voters polled May 9-11 had a favorable opinion of the Democratic president, up 9 points since February. Forty percent had an unfavorable opinion and 7 percent were undecided. A third gave him a positive job rating on handling the economy, while 66 percent gave him a negative rating and 2 percent were undecided.”

Estimating the State’s Finances

A budget panel is meeting this morning in Lansing to figure out how much money the state has to spend in the fiscal year that begins on October 1st. It was announced on Friday that the state is expected to have half a billion dollars or more in revenue than was previously predicted. Some lawmakers want to use the windfall to roll back proposed budget cuts, including cuts to K-12 schools. Governor Snyder says some of the money should be put towards the state’s emergency savings.

EFM Repeal

A group looking to repeal the state’s new financial manager law is expected to detail their plans today, the Associated Press reports. From the AP:

Michigan Forward says it will talk about the coalition formed to launch the "Campaign to Build Michigan" this morning. The legislation signed into law in March gives state-appointed financial managers broader powers to correct the finances of communities and school districts.

The meeting will take place in Detroit.

McCotter: Not In

Republican Congressman Thaddeus McCotter of Livonia announced over the weekend that he will not run against Democratic Senator Debbie Stabenow for her Senate seat in 2012. Rep. McCotter is yet another Michigan Republican who has decided not to run against Stabenow. Former West Michigan Congressman Pete Hoekstra and former Michigan Secretary of State Terri Lynn Land both have said they will not run. Former Kent County Judge Randy Heckman is the only Republican to announce his candidacy for the seat.

Romney in Michigan

Former Massachusetts Governor Mitt Romney will deliver a speech about healthcare today at the University of Michigan Medical Center in Ann Arbor. Steve Carmody reports:

The Republican presidential contender is expected to outline a path away from the nation’s recently enacted health care reform law… Romney has been extremely critical of the health care law enacted last year, even though it’s very similar to the law he enacted as governor of Massachusetts. Romney’s speech will address his proposal to replace the law.

Declining Profits at Toyota

Toyota announced yesterday that its fourth-quarter profit fell by 77%. Reasons for the decline include the strong yen versus the dollar that eroded Toyota’s profits overseas and the fact that the automaker’s global production plummeted after March’s earthquake and tsunami. Meanwhile, the Associated Press reports that Toyota says, “its North American production will rise to 70 percent of normal in June as the company begins to recover from parts shortages caused by the earthquake in Japan"

Lawmakers Continue Debate on Tax Reform

It appears Republican leaders in the state Senate are facing a difficult challenge in trying to win approval for Governor Rick Snyder’s tax overhaul. Laura Weber reports:

The tax reform plan has been before a Senate committee this week, but there have been no votes on the measure. Republican Senators on the panel walked in and out of hearings, which may signal they weren’t ready for a vote.  The tax plan is controversial. It would eliminate the Michigan Business Tax in favor of a profits-tax on some corporations, reduce the state Earned Income Tax Credit, and tax some future pensioners. Senate Majority Leader Randy Richardville says he still hopes the Senate will vote on the package this week.

GM Announces New Investments

General Motors announced yesterday it will invest a total of $2 billion in 17 of its U.S. plants. The investment means the automaker will re-hire its 1,357 laid-off workers, and possibly hire hundreds of new workers, especially if demand for GM cars continues to improve. The announcement was made at GM’s Toledo Transmission plant.

Unhappy With Snyder

A new EPIC/MRA poll is out and it shows Michigan voters are unhappy with Governor Rick Snyder. Snyder’s disapproval rating is at 60%, that’s compared with a disapproval rate of 36% percent just two months ago. And, disapproval of his job performance seems to have influenced how votes view Snyder personally. "More voters have an ‘unfavorable’ opinion of Governor Snyder today than they did back in February. In February, the poll showed 44% ‘favorable’ and 27% ‘unfavorable.’ Today, the poll shows 41% ‘favorable’ and 43% ‘unfavorable,'" Mark Brush reports.

EITC (Partially) Restored

Governor Snyder's administration has agreed to restore a reduced version of the state income tax credit for working poor families, Rick Pluta reports. From Pluta:

The reduced tax break will allow families that qualify to claim 6% of the federal earned income credit on their state taxes. In the past families could claim 20%. Snyder's original proposal called for elimination of the credit... Families eligible for the state credit in 2009 claimed an average of $432 per household. The Michigan League for Human Services says the reduced credit will still allow eligible families to take $140 off their 2011 tax bill, or add part of it to their return.