government loans

Newsmaker Interview
5:53 pm
Tue May 8, 2012

Supporting small business in the alternative energy sectors

Democratic State Rep. Marica Hovey-Wright. She represents the 92nd House District, which includes the cities of Muskegon, North Muskegon and Muskegon Heights, and Fruitland, Laketon and Muskegon townships.

Legislation is being introduced in the state house aimed at supporting small businesses and startup companies in the alternative energy sectors.

The legislation is co-sponsored by Democratic State Representative Marcia Hovey-Wright. She spoke with Jennifer White.

Hovey-Wright says, "Basically it’s a revolving loan fund for alternative energy, green manufacturing which includes, wind, solar, advanced battery and biomass. The intention is to create good paying jobs with good benefits."

Economy
7:04 am
Tue May 24, 2011

Chrysler set to pay back federal loans today

Chrysler is set to pay back its federal loans in full today.
Ricardo Giaviti Flickr

Chrysler will pay back its federal loans in full today. Michigan Radio's Tracy Samilton reports:

It's another milestone in the company's long struggle to recover from bankruptcy. Chrysler will wire-transfer nearly $6 billion to the U.S. Treasury and $1.5 billion to the governments of Canada and Ontario. Chrysler used some cash from Fiat for the transaction - and refinanced the rest with loans from private banks and investors.

The move will save Chrysler $300 million a year in interest and is one more step towards independence from the government.

The U.S. Treasury still holds about eight and a half percent of Chrysler stock. Fiat could end up buying that stock in the future. As of today, Fiat owns forty-six percent of Chrysler.

The news is making headlines this morning: