In this morning's news...
Without a new extension of jobless benefits, 45,000 long-term unemployed people in Michigan will lose their unemployment benefits on December 1st, Rick Pluta reports. State unemployment officials hope Congress will act in the next two weeks to extend the benefits. Michigan's unemployment rate is 13%, the second-highest in the country.
Volt Already Winning Awards
General Motor's Volt has been named the 2011 Car of the Year by Motor Trend Magazine. The Volt will hit select showrooms in California, Texas, New York and Washington, D.C. next month. The Volt can go up to 40 miles on battery power and then a gasoline generator works to power the electric motor. The editor in chief of Motor Trend Magazine says on its website that the Volt has, "some of the most advanced engineering ever seen on an American production car."
Hamtramck To Seek Bankruptcy
The Detroit News reports, "the city of Hamtramck, awash in debt, has asked the state for permission to take the unprecedented step of filing for bankruptcy." Hamtramck's city manager says the city is facing a $3 million debt and could run out of money in January. The Detroit Free Press says, "a city cannot declare bankruptcy, but a state-appointed emergency financial manager can." A state Treasury Department spokesman told the Detroit News that no Michigan municipality has ever declared bankruptcy before.