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Learning How to Play Nice

From Metromode - To say that things have been politically thorny in Michigan lately is probably an understatement. Partisanship seems to be at an all-time high (doesn't it always?) and term limits don't help the situation.
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In Michigan, One Answer to the Jobs Crisis

From Business Week - Wolverine Metal Stamping in St. Joseph, Mich., has long been trying to diversify beyond automotive clients. To do so, Wolverine needs capital. That's been increasingly hard for small manufacturers to come by as their assets, used as collateral for bank loans, have depreciated during the recession and, in many cases, the auto industry's collapse. Now, a fund sponsored by the Michigan Economic Development Corp. (MEDC) is providing collateral so companies can get loans to shift away from autos. Read more »

Making Borrowers Healthier, As Well As Banks

From Business Week - One reason the credit crisis persists for small businesses is that even as banks have tightened their lending standards, fewer small businesses are considered creditworthy. Many have seen sales drop, cash-flow slow down, and the value of their assets plummet. So even though banks may be healthy enough to lend, businesses aren’t necessarily healthy enough to borrow. Read more »

Congress urged to help small manufacturers gain access to credit

From Crain's Detroit - State and industry officials say the U.S. Congress should launch a $10 billion fund from the Troubled Asset Relief Program to help pay for manufacturers trying to diversify into new industries that’s based on a similar state program already underway.  Read More >>

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