Stateside for Thursday, December 5th, 2013

Dec 5, 2013

Lots of attention is being paid to Detroit's bankruptcy, but it is not only Detroit that's facing big budget challenges.

Unfunded liabilities and retiree debt are adding up all across our state -- from Ann Arbor to Grand Rapids to Bloomfield Hills -- we'll find out more on today's show.

And, then, later in the hour -- Did you know Muskegon is home to America's tallest singing Christmas tree? It's a West Michigan holiday tradition, and we'll take you inside the show and introduce you to the people that make it possible.

First up, big auto news from around the globe today.

General Motors says it plans to largely withdraw its Chevrolet brand from Europe beginning in 2016.

The automaker says the decision was largely due to a challenging business model and the difficult economic situation in Europe.

Meanwhile, the Ford Mustang is celebrating its 50th birthday with a new design and plans to go global.

Russell Padmore joined us from London. He’s a business reporter for the BBC.