News Roundup
9:06 am
Tue November 15, 2011

In this morning's news...

Detroit Finances

Detroit Mayor Dave Bing will give a speech tomorrow night regarding his city’s troubled finances, the Associated Press reports. From the AP:

City council member Gary Brown says Detroit is "broke." The Detroit Free Press is reporting Tuesday that the city will run out of cash by April unless immediate cuts are made.The newspaper says it obtained a report by Ernst & Young that the city won't release. The mayor plans to speak Wednesday at 6 p.m. It's possible that Detroit's poor health could lead to the appointment of an emergency manager with sweeping authority to make changes.

Dems Release Jobs Plan

Democratic lawmakers in Lansing have outlined a plan that they say would help small businesses grow and hire unemployed people. Rick Pluta explains:

The plan includes taking a portion of the money that’s in a state trust fund and investing it in local banks and credit unions to make small business loans. The Democratic package would allow small banks and credit unions to pool their finances to invest in larger projects…The plan also calls for a tax credit for small businesses that hire long-term unemployed people and veterans. Republicans shy away from job creation credits. They say the state should not single out specific businesses for tax breaks.

Deer Seasons Begins

Today is the first day of the state’s firearm deer season. “Some  675,000 hunters are expected to scour woods and rural areas across the state,” over the next 16 days, the Associated Press reports. There are more than 600,000 licensed deer hunters in the state. Rodney Stokes, Director of the state Department of Natural Resources,  says the firearm deer season generates about a half billion dollars for Michigan's economy.