Monday briefing and open thread

Today in talk.

Reading

  • Aspiring Governor Bill Schuette pens an op-ed to complain about how the health care act is an “affront to liberty.” It’s an affront to liberty to go bankrupt in order to get access to medical treatment, but Schuette didn’t get into that. I’m sure he agrees though.
  • Dearborn Bancorp Inc., the holding bank for Fidelity Bank, has serious doubts about its future:

    “We have determined that significant additional sources of capital will be required for the bank to continue operations through 2012 and beyond,” the company said in Wednesday’s filing. “We have previously engaged financial advisers to assist in our efforts to raise additional capital and explore strategic alternatives to address our current and expected capital deficiencies. To date, they have been unsuccessful.

    “If the bank is placed into FDIC receivership, it is highly likely that the company would be required to cease operations. If the company were to cease operations, we do not believe that there would be any assets available to the holders of capital stock in the company.”

    Dearborn Bancorp Inc was founded in 1994 and has 15 branches in Michigan.

  • Two quick blasts from Chrysler. First, the Chrysler Group is continuing its expansion in Auburn Hills.

    Chrysler Group LLC has continued its expansion in Auburn Hills with the lease of a 147,000-square-foot office building at 2301 Featherstone Road.

    It follows a Chrysler lease in May of 210,000 square feet of office space at 1075 Entrance Drive and the lease of 400,000 square feet of industrial space in Redford Township in December.

    Second, some good news about sourcing to minority owned businesses:

    Last year Chrysler introduced its program to encourage tier-one suppliers to increase their spending with minority-owned businesses. In its first year, the program increased Chrysler’s annual spending with minority suppliers — tier one and lower — by $915 million to a total of $4 billion, Knott said. It also increased the share of Chrysler’s total spending going to tier-two minority suppliers 80 percent to a total of $1.9 billion.

    While the non-minorities are sure to complain, a quick review of the numbers show that the”automakers typically had minority spending targets of 8 percent to 10 percent of their overall spending, with targets for their tier-one suppliers of 5 percent to 10 percent.” So there’s plenty left for non-minorities.

  • I ran this last Friday but I love it and am putting it here again:

    He has a new version of this too, but I like this one best.

Census Daily –

Profile America — Monday, March 26th. With spring here, a device that’s been around since time immemorial is being honored — it’s National Umbrella Month. No one knows who invented the umbrella or exactly when, but it’s estimated that it was being used as much as 4,000 years ago. It’s thought the original purpose of the umbrella was to provide a shield from the sun — noting the name comes from the Latin word for shade — “umbra.” However, in many U.S. cities, trusty umbrellas will be popped open to keep people from being drenched. Mobile, Alabama has the highest annual rainfall at more than 66 inches. New Orleans is next at 64 inches, and Miami registers over 58 inches a year.

Solidarity forever, brothers and sisters!!!

There are no cover bands in the Rock and Roll Hall of Fame. Follow me on Twitter - @christinebarry
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  • Snarky Anderson

    I assume you’re not planning to attend the Wayne County GOP’s Salute to the Justice System, featuring guest of honor Bill Schuette. Tickets are $100 apiece, a mere bagatelle considering you’ll be rubbing elbows with the Attorney General and other leading lights of the legal and law-enforcement communities.

    • http://www.bloggingformichigan.com Christine

      Only if I can pay for my ticket with medical marijuana.