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Fri November 19, 2010
In this morning's news...
GM Stock Sale
General Motors' stock was back on the New York Stock Exchange yesterday, the first time since the company filed for bankruptcy last year. GM stocks closed at $34.19 per share, up from the IPO price of $33. As The Detroit Free Press reports, "ending 16 months of majority ownership by U.S. taxpayers GM becomes a public company once again with the government holding a 33 percent stake." President Obama said, "American taxpayers are now positioned to recover more than my administration invested in GM, and that's a good thing."
Unemployment Extension Fails
The U.S. House of Representatives failed to pass a bill yesterday that would have extended unemployment benefits. As The Detroit News reports, "an estimated 2 million jobless Americans are on track to lose benefits under the bill, which would extend payments for up to 99 weeks of unemployment until the end of February 2011. Some 180,000 people in Michigan would be affected." Yesterday, Governor Granholm sent a letter to House and Senate leaders urging them for action on the measure.
Liquor Bill Signed
Governor Granholm has signed a bill that allows for alcohol sales on Sunday mornings and Christmas. The bill also allows grocers and retailers to offer customers beer, wine and spirit tastings. The governor said it's time to update the state's old alcohol regulations.
Flint Murder Rate
Flint has recorded its 60th murder of the year, that's just one away from its record for murders in one year, Steve Carmody reports. The news comes as the city struggles to maintain staffing in its police department. Mayor Dayne Walling says too many of the city's residents have turned to drugs and violence.