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Current Events: AUTOMAKER BAILOUT MEETS GOP RESISTANCE
AUTOMAKER BAILOUT MEETS REPUBLICAN RESISTANCE
WASHINGTON (Reuters) - A key Republican Senator said on Sunday it
was "pretty clear" a $25 billion bailout proposal for U.S. automakers
will fail in the U.S. Senate, while Democrats argued saving the
industry was critical to the U.S. economy.
The Senate is slated on Monday to begin debating emergency
legislation to General Motors Corp, Ford Motor Co, and Chrysler LLC in
a special post-election session to deal with the economic crisis.
The leading Democratic plan would authorize up to $25 billion in
loans from the Treasury Department's $700 billion corporate rescue
program to help Detroit survive its financial crisis. In return, the
government would take equity stakes in the companies and impose limits
on executive compensation.
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Posted by michigan on Sunday, November 16 @ 13:24:43 CST (6 reads)
(Read More... | 1227 bytes more | Current Events | Score: 0) |
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Current Events: New Energy Law is Good News for Michigan Electricians
New Energy Law is Very Good News for Michigan Electricians
LOS ANGELES (Reuters) - Michigan Gov. Jennifer M. Granholm on Monday
signed into law legislation that calls for 10 percent of electricity in
the state to be generated from renewable sources by 2015.
Just over half the 50 U.S. states have set requirements for renewable power generation.
Also signed into law is a Michigan provision requiring energy efficiency to cut power demand by 5.5 percent by 2015.
A third provision signed by Granholm limits switching by industrial
customers from Michigan utilities. This amendment to existing law is
seen as helping Consumers Energy build a new coal power plant and for
Detroit Edison to build a new nuclear plant by assuring them of an
adequate customer base to support the major capital projects.
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Posted by michigan on Friday, October 24 @ 10:38:57 CDT (17 reads)
(Read More... | 1383 bytes more | Current Events | Score: 0) |
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Current Events: Marathon Oil Refinery Project Gets Green Light
Marathon Heavy Oil Refinery Upgrade Job Begins
Michigan's only gasoline refinery, Marathon Oil in southwest Detroit,
received final permission Friday to begin a $1.9-billion expansion of
its plant, which will create 800 construction jobs and more than 100
permanent jobs and, possibly, give some gas price relief in 2011 to
drivers in southeast Michigan.
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Posted by michigan on Monday, June 23 @ 14:53:33 CDT (79 reads)
(Read More... | Current Events | Score: 0) |
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Current Events: Michigan Electricity Deregulation
Michigan Electricity Deregulation
Electric
Deregulation
Electric Deregulation: What it's all about
You may hear it referred to by several
different names: customer choice, deregulation, electric choice,
or electric utility restructuring. Whatever it's called, it's
a new way of deciding how customers get their energy supply.
Electricity is supplied through a system of
three separate activities. Traditionally, these services have
all been provided by your local utility. They include:
- Generation, where the electricity is produced
at a power plant;
- Transmission, which moves power at high
voltages from the power plant to the local distribution
system; and
- Distribution, where the electricity is
delivered to homes and businesses.
In several states across the country, state
legislatures have passed laws allowing customers to buy electricity
from suppliers other than their local utility. The power continues
to be delivered to the customer's home or business through
the local utility's distribution system.
The theory behind
all this is that competition will drive down the price of
generation and the customer will end up with a lower bill.
Does customer choice work?
Electric customer choice has experienced
mixed success in states where it's been tried. In California
it turned out to be a disaster, partly because a shortage
of supply drove the price up. Some large customers have been
able to benefit from customer choice but generally, it has
not led to lower electric bills for residential or small commercial
customers. In states where it's been tried, most customers
who switched suppliers eventually returned to their local
utility.
It may be too early to tell whether customer
choice will work in the electric utility industry. The market
is new and may simply need time to develop. On the other hand,
the concept may simply be flawed. Time will tell.
Customer Choice in Michigan
In June 2000 Governor Engler signed
P.A. 141, also known as the Michigan Customer Choice and Electricity
Reliability Act. All customers of investor-owned utilities
and large rural electric cooperative customers became eligible
to choose their own electric suppliers as of January 1, 2002.
Small cooperative customers will have choice by January 1,
2005.
The bill gives the governing boards of the state's 41
municipally-owned electric utilities the choice of opting
in or out of customer choice for their customers.
Customer Choice and the BWL
Under the new law, the governing boards
of Michigan's municipally owned utilities can decide whether
choice will be extended to customers of their utilities.
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Posted by michigan on Monday, June 09 @ 18:47:31 CDT (87 reads)
(Read More... | Current Events | Score: 3) |
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Current Events: STOCKS RALLY HIGHER ON FEDS LATEST BAILOUT PLAN
STOCKS RALLY HIGHER ON FEDS LATEST BAILOUT PLAN
Wall Street rallied today on news that the Federal Reserve is planning on pumping $200 Billion into the liquidity starved credit markets.
The Dow Jones Industrial average was up over 400 points today, it's biggest one day rally since 2002.
Clearly the markets liked what the Fed had to say. While this plan does do more to help the credit crisis by providing much needed liquidity for new loans, one has to wonder if this bailout of bad investments isn't just prolonging the inevitable.
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Posted by michigan on Tuesday, March 11 @ 16:46:42 CDT (125 reads)
(Read More... | Current Events | Score: 0) |
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Past Articles
| Friday, February 01 | | · | EXXON POSTS RECORD PROFITS |
| Sunday, January 20 | | · | ALTERNATIVE ENERGY MAY FUEL MICHIGAN'S ECONOMY |
| Friday, January 11 | | · | MARATHON EXPANDS REFINERY JOB |
| Monday, January 07 | | · | GM SEES DRIVERLESS CARS WITHIN 10 YEARS |
| Friday, January 04 | | · | GM TRYING TO GET VOLT READY BY 2010 |
| Tuesday, December 18 | | · | NEW HOUSING CONSTRUCTION HITS 16 YEAR LOW |
| Saturday, December 15 | | · | DETROITERS SEEK HELP SAVING HOMES |
| Thursday, December 06 | | · | WAKE UP WALMART |
| Wednesday, December 05 | | · | HOBBIES ARE RICH IN PSYCHIC REWARDS |
| Tuesday, December 04 | | · | UAW CONTRACT MAY HAVE RIPPLE EFFECTS |
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