News Roundup
9:19 am
Fri July 1, 2011

In this morning's news...

Reports: McCotter Ready to Enter 2012 Presidential Race

There are reports out this morning, quoting many unnamed sources, that Republican Congressman Thaddeus McCotter of Michigan is planning on jumping into the 2012 presidential race.  From the Associated Press:

A person familiar with the plans of Michigan Congressman Thaddeus McCotter says the Republican will make a "major announcement" Saturday about whether he will run for president in 2012. A person in contact with the Livonia congressman told The Associated Press yesterday that McCotter will address whether he'll seek the Republican presidential nomination.

Lawmakers Finish Work For the Summer

State lawmakers worked into the evening yesterday, finishing up their work before a two month summer break begins. Lawmakers worked on teacher tenure rules, the House passed another version of a bill that would require many public employees to pay more of their health insurance costs, and the House also approved a measure to regulate hunting ranches as an alternative to new regulations that would outlaw wild boar.

For Sale: Borders

Borders has agreed to sell itself to private investment firm Najafi Cos. for $215 million, according to the Associated Press. “Najafi, which owns the Book-of-the-Month Club, will also assume $220 million in debt. The agreement is tentative and what is known as a ‘stalking horse’ bid for a company under bankruptcy protection. The bid will open an auction for the bookseller and its assets, so a higher bid is possible. A bankruptcy court hearing on the deal is set for July 21,” the Associated Press reports.