News Roundup
9:00 am
Wed March 30, 2011

In this morning's news...

So-Long Price Tags

Retailers will no longer have to put price tags on almost every individual item they sale. Governor Snyder signed a bill yesterday that repeals the requirement. Michigan was the only state in the country to have such sweeping price tag laws, Rick Pluta reports. Item-pricing was popular with much of the public. The law just signed by the Governor has a provision that makes sure the new law cannot be reversed by a citizen referendum, Pluta reports.

Shared Sacrifice Among Lawmakers

Republican state Senator Rick Jones has introduced a bill that would require state legislators to pay 20 percent of their health insurance premiums. With the state facing a $1.4 billion budget deficit in the coming fiscal year, Governor Snyder wants state employees to  pay 20 percent of their health care insurance and, so, Senator Rogers thinks state lawmakers should have to do the same. Senator Jones has also introduced a bill to alter the lifetime health insurance that legislators receive after serving only six years, calling it “obscene,” Tracy Samilton reports.

Price of Homes Continues to Fall

Homes values in Metro Detroit declined to a new low in January. From the Detroit News:

Among the 20 major cities surveyed for the S&P/Case-Shiller Home Price Index, Detroit ranked last with an index of 66.02. The region's previous low was 66.47 in December. Case-Shiller uses home values from January 2000 as a starting point of 100 — anything higher shows a gain, and anything lower is a loss. Compared with other major cities, Detroit is much lower.

According to Home Price Index, home values in Metro Detroit are the lowest since 1993.