The Michigan Public Service Commission authorized Consumers Energy to raise $40 million per year by increasing its natural gas rates. The Jackson-based utility had asked for an $84.7 million rate increase in July 2015, according to commission records.
Venture capital investment in Michigan is thriving, based on data from the Michigan Venture Capital Association and the National Venture Capital Association. According to the quarterly MoneyTree report issued by the NVCA and PricewaterhouseCoopers LLP, based on data compiled by Thomson Reuters, 13 Michigan companies got a total of $78.5 million from venture capitalists in the first quarter of this year.
General Motors has scrapped a plan to invest an additional $245 million in a factory north of Detroit to build a small Cadillac, with management deciding instead to build the future product in Kansas to contain costs. The move, communicated to employees earlier in the year, threatens the security of workers at GM’s Orion assembly who have long dealt with uncertainty due to product mix.
Much more is highlighted in Michigan News.
