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Detroit schools plan $121 million note sale to refinance debt as enrollment...
Elizabeth Campbell Bloomberg News - The Detroit school system, which is being run by a state-appointed manager because of its financial strains, is planning to sell $121 million in tax-exempt notes...
View ArticleYpsilanti project up first in $70 million effort to support affordable...
Associated Press - Banks and philanthropic organizations have committed more than $70 million to help finance affordable housing for low-income families and improve access to social services programs...
View ArticleChase, Kellogg launch $6.5 million Entrepreneurs of Color Fund
Tom Henderson - The Detroit Development Fund, J.P. Morgan Chase & Co. and the W.K. Kellogg Foundation planned to announce today a $6.5 million lending program for Detroit businesses owned by...
View ArticleAs Fed meeting begins, decision on interest rate hike a toss-up
Martin Crutsinger AP Economics Writer - WASHINGTON — Will they or won't they? Nine years after they last raised their benchmark interest rate and after months of feverish speculation, Federal Reserve...
View ArticleFed leaves key interest rate unchanged, citing low inflation
Associated Press - WASHINGTON — The Federal Reserve is keeping U.S. interest rates at record lows in the face of threats from a weak global economy, persistently low inflation and unstable financial...
View ArticleWhat's in a name? Airport authority hopes bonds skirt Wayne County's taint
Elizabeth Campbell Bloomberg News - What’s in a name? Not much, if you ask investors about the Wayne County Airport Authority, which is selling about $588 million of debt Tuesday. The independent...
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FirstMerit's Sandy Pierce one of 25 most powerful women in banking
Tom Henderson - For the second straight year, American Banker magazine has named Sandy Pierce to its list of the 25 most powerful women in banking. She is the only banker from Michigan on the list....
View ArticleWayne County Airport Authority sells $522 million in bonds to refinance debt,...
Elizabeth Campbell Bloomberg News - Wayne County Airport Authority, which runs the airport serving once-bankrupt Detroit, wasn’t penalized for the county’s mounting financial distress as it sold $522...
View ArticleFlint-based health care provider plans to buy Livonia senior care facility
Lindsay VanHulle - LANSING — A Flint-based provider of health and family care services plans to issue up to $20 million in bonds to help it buy a 72-bed nursing and rehabilitation facility in Livonia....
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Spring & Sprout of Dundee expands footprint into Texas
Tom Henderson - Spring & Sprout Dental Holdings, a Dundee-based portfolio company of Detroit-based Huron Capital Partners LLC, has acquired some of the assets of Austin, Tex.-based Rising Stars...
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Grizzly, but bearable: As market swings, wealth managers point to...
Tom Henderson - Yes, stock markets have had a wild ride during the last month — unlike anything seen since the Great Recession. There have been worries about Greece, the Federal Reserve Bank and...
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Chase's John Carter takes the top spot; he's among 6 bankers on list
Tom Henderson - For decades, Detroit’s top banking executives also led in top civic roles. The late Charles “Chick” Fisher of NBD (now JP Morgan Chase) and Eugene Miller of Comerica Bank were...
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What Detroit-area wealth management experts like, dislike – and advice they...
Tom Henderson - One local wealth manager calls it the "crisis du jour," a way of looking at the world that is a side effect of a 24-hour news cycle that has investors worrying about bear markets and...
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Trailblazer's son Aubrey Lee Jr. takes own path
Tom Henderson - Aubrey Lee Jr. has had extra-large shoes to fill as the junior to Aubrey Lee Sr., for whom the word "legendary" is not hyperbole. Lee is credited with being the first African-American...
View ArticleTaubman Centers gets $1 billion loan for New Jersey mall refinance
Katherine Chiglinsky Bloomberg News - MetLife Inc. is among insurers providing a $1 billion loan to refinance Taubman Centers Inc.’s Mall at Short Hills, a 1.4 million-square-foot luxury shopping...
View ArticleNew OU course gives students portfolio management experience with $2 million...
Kirk Pinho - Oakland University students taking a 400-level business course this semester are getting hands-on experience in investment portfolio management and evaluation and stock selection with a...
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Want to be an official Detroit Lions sponsor? Make your pitch
Bill Shea - Businesses that want to get exposure as an official partner of the Detroit Lions can make their pitch in a contest announced today. The Lions and their official credit card payment...
View ArticleConference in Ypsilanti targets existing, would-be angel investors
Tom Henderson - Startup Angels, a New York-based organization that helps existing angel investors network with each other and teaches would-be investors about the ins and outs of angel investing, is...
View ArticleClinton Township businessman ordered to pay $101 million, serve 12 years in...
Sherri Welch - A Clinton Township businessman has been ordered to pay $101.2 million in restitution, fees and interest and sentenced to 12 years in prison for his role in a Ponzi scheme that came to...
View Article15,000 freeway lights in metro Detroit to be replaced with LED bulbs in MDOT...
Rachel Premack - Using innovative contracting, the Michigan Department of Transportation is entering a public-private partnership agreement to upgrade and maintain freeway lights in Wayne, Oakland and...
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