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- No, Chinese investors aren't 'buying up Detroit' – but they do have an eye on the Motor City
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Fri November 12, 2010
In this morning's news...
Nader: Postpone GM Stock Sales
Ralph Nader has sent a letter to President Obama asking him to postpone the government's sale of General Motors stock. The Detroit News reports, "the government plans next Thursday to sell about a third of the 61 percent majority stake in GM that it swapped for $40 billion of its $49.5 billion bailout." Nadar and two other consumer advocates say by postponing the initial public stock offering the government would increase the taxpayer's investment in GM. There's been no response from the Obama administration or General Motors to the letter.
Judge To Hear Arguments in Medical Marijuana Case
A federal judge in Grand Rapids will hear arguments today in a case that challenges the firing of a medical marijuana patient. The patient, Joseph Cassias, was fired from a Walmart in Battle Creek after he tested positive for marijuana. Cassias was registered in Michigan to use the drug for pain relief. Attorneys for Walmart want the case dismissed.
Snyder Inaugural Events Take Shape
The Detroit News is reporting that Governor-elect Rick Snyder's transition team will announce his inaugural planning committee today. It's expected that Michigan Grocers Association President and CEO Linda Gobler and Patricia Mooradian, president of The Henry Ford, will co-chair the committee. The theme of the inauguration: The Power of Michigan.