 |
GM MEGA Credit Is Capped
The
Michigan Strategic Fund board unanimously supported an amended
agreement with General Motors to place a cap on its Michigan Economic
Growth Authority credit the state provided in 2009. The details of
this agreement have not been made available to the public. It was
revealed that the state’s obligations under this credit would be
capped as well, and include credits already issued.
General
Motors becomes the last of the Detroit three automakers to engineer a
deal with the state such as this. Fiat Chrysler Automobiles’ credit
was capped at $1.9 billion for the entire life of the credit and
$1.71 billion for the remaining duration of the credit. Ford Motor
Company two credits were combined into one for a cap of $2.3 billion
during the life of the credit.
The
agreement with GM would reduce the state’s costs and would not
increase any liability to the company. The Michigan Economic
Development Corporation (MEDC) estimated the outstanding MEGA credit
liability at $9.38 billion. After crafting the agreements with
Chrysler, Ford, and GM, CEO of MEDC Steve Arwood commented he hopes
this number will decrease.
posted by PAA Online
,
Friday, December 18, 2015
11:16 AM
LINK DIRECTLY TO THIS ARTICLE
This Week's Newsletter
Past Newsletters
- Oct 28, 2016
- Oct 21, 2016
- Oct 14, 2016
- Oct 7, 2016
- Sep 30, 2016
- Sep 23, 2016
- Sep 16, 2016
- Sep 9, 2016
- Sep 1, 2016
- Aug 26, 2016
- Aug 19, 2016
- Aug 12, 2016
- Aug 5, 2016
- Jul 29, 2016
- Jul 22, 2016
- Jul 15, 2016
- Jul 8, 2016
- Jun 30, 2016
- Jun 24, 2016
- Jun 17, 2016
- Jun 10, 2016
- Jun 3, 2016
- May 27, 2016
- May 20, 2016
- May 13, 2016
- May 6, 2016
- Apr 29, 2016
- Apr 22, 2016
- Apr 15, 2016
- Apr 8, 2016
- Apr 1, 2016
- Mar 25, 2016
- Mar 18, 2016
- Mar 11, 2016
- Mar 4, 2016
- Feb 26, 2016
- Feb 19, 2016
- Feb 12, 2016
- Feb 5, 2016
- Jan 29, 2016
- Jan 22, 2016
- Jan 15, 2016
- Jan 8, 2016
- Dec 18, 2015
- Dec 11, 2015
- Dec 4, 2015
- Nov 20, 2015
- Nov 13, 2015
- Nov 6, 2015
- Oct 30, 2015
- Oct 23, 2015
- Oct 16, 2015
- Oct 9, 2015
- Oct 2, 2015
- Sep 25, 2015
- Sep 18, 2015
- Sep 11, 2015
- Sep 4, 2015
- Aug 28, 2015
- Aug 21, 2015
- Aug 14, 2015
- Aug 7, 2015
- Jul 31, 2015
- Jul 24, 2015
- Jul 17, 2015
- Jul 10, 2015
- Jul 2, 2015
- Jun 26, 2015
- Jun 19, 2015
- Jun 12, 2015
- Jun 5, 2015
- May 29, 2015
- May 22, 2015
- May 15, 2015
- May 8, 2015
- May 1, 2015
- Apr 24, 2015
- Apr 17, 2015
- Apr 10, 2015
- Apr 3, 2015
- Mar 27, 2015
- Mar 20, 2015
- Mar 13, 2015
- Mar 6, 2015
- Feb 27, 2015
- Feb 20, 2015
- Feb 13, 2015
- Feb 6, 2015
- Jan 30, 2015
- Jan 23, 2015
- Jan 16, 2015
- Jan 9, 2015
- Dec 19, 2014
- Dec 15, 2014
- Dec 5, 2014
- Nov 21, 2014
- Nov 14, 2014
- Nov 7, 2014
- Oct 31, 2014
- Oct 24, 2014
- Oct 17, 2014
- Oct 10, 2014
- Oct 3, 2014
- Sep 26, 2014
- Sep 19, 2014
- Sep 12, 2014
- Sep 5, 2014
- Aug 29, 2014
- Aug 22, 2014
- Aug 15, 2014
- Aug 8, 2014
- Aug 1, 2014
- Jul 25, 2014
- Jul 18, 2014
- Jul 11, 2014
- Jul 3, 2014
- Jun 27, 2014
- Jun 20, 2014
- Jun 13, 2014
- Jun 6, 2014
- May 30, 2014
- May 23, 2014
- May 16, 2014
- May 9, 2014
- May 2, 2014
- Apr 25, 2014
- Apr 18, 2014
- Apr 11, 2014
- Apr 4, 2014
- Mar 28, 2014
- Mar 21, 2014
- Mar 14, 2014
- Mar 7, 2014
- Feb 28, 2014
- Feb 21, 2014
- Feb 14, 2014
- Feb 7, 2014
- Jan 31, 2014
- Jan 24, 2014
- Jan 17, 2014
- Jan 10, 2014
- Jan 3, 2014
- Dec 20, 2013
- Dec 13, 2013
- Dec 6, 2013
- Nov 22, 2013
- Nov 15, 2013
- Nov 8, 2013
- Nov 1, 2013
- Oct 25, 2013
- Oct 18, 2013
- Oct 11, 2013
- Oct 4, 2013
- Sep 27, 2013
- Sep 19, 2013
- Sep 13, 2013
- Sep 6, 2013
- Aug 29, 2013
- Aug 23, 2013
- Aug 16, 2013
- Aug 9, 2013
- Aug 2, 2013
- Jul 26, 2013
- Jul 19, 2013
- Jul 12, 2013
- Jun 28, 2013
- Jun 21, 2013
- Jun 14, 2013
- Jun 7, 2013
- May 31, 2013
- May 24, 2013
- May 17, 2013
- May 10, 2013
- May 3, 2013
- Apr 26, 2013
- Apr 19, 2013
- Apr 12, 2013
- Apr 5, 2013
- Mar 29, 2013
- Mar 22, 2013
- Mar 15, 2013
- Mar 8, 2013
- Mar 1, 2013
- Feb 22, 2013
- Feb 15, 2013
- Feb 8, 2013
- Feb 1, 2013
- Jan 25, 2013
- Jan 18, 2013
- Jan 11, 2013
- Jan 4, 2013
- Dec 21, 2012
- Dec 14, 2012
- Dec 7, 2012
- Nov 30, 2012
- Nov 21, 2012
- Nov 16, 2012
- Nov 9, 2012
- Nov 2, 2012
- Oct 26, 2012
- Oct 19, 2012
- Oct 12, 2012
- Oct 5, 2012
- Sep 28, 2012
- Sep 21, 2012
- Sep 14, 2012
- Sep 7, 2012
- Aug 31, 2012
- Aug 24, 2012
- Aug 17, 2012
- Aug 10, 2012
- Aug 3, 2012
- Jul 27, 2012
- Jul 20, 2012
- Jul 13, 2012
- Jul 6, 2012
- Jun 29, 2012
- Jun 22, 2012
- Jun 15, 2012
- Jun 8, 2012
- Jun 1, 2012
- May 25, 2012
- May 18, 2012
- May 11, 2012
- May 4, 2012
- Apr 27, 2012
- Apr 20, 2012
- Apr 13, 2012
- Apr 6, 2012
- Mar 30, 2012
- Mar 23, 2012
- Mar 16, 2012
- Mar 9, 2012
- Mar 2, 2012
- Feb 24, 2012
- Feb 17, 2012
- Feb 10, 2012
- Feb 3, 2012
- Jan 27, 2012
- Jan 20, 2012
- Jan 13, 2012
- Jan 6, 2012
- Dec 29, 2011
- Dec 22, 2011
- Dec 16, 2011
- Dec 9, 2011
- Dec 2, 2011
- Nov 23, 2011
- Nov 18, 2011
- Nov 11, 2011
- Nov 4, 2011
- Oct 28, 2011
- Oct 21, 2011
- Oct 14, 2011
- Oct 7, 2011
- Sep 30, 2011
- Sep 23, 2011
- Sep 16, 2011
- Sep 9, 2011
- Sep 2, 2011
- Aug 26, 2011
- Aug 19, 2011
- Aug 12, 2011
- Aug 5, 2011
- Jul 29, 2011
- Jul 22, 2011
- Jul 15, 2011
- Jul 8, 2011
- Jul 1, 2011
- Jun 24, 2011
- Jun 17, 2011
- Jun 10, 2011
- Jun 3, 2011
- May 27, 2011
- May 20, 2011
- May 13, 2011
- May 6, 2011
- Apr 29, 2011
- Apr 22, 2011
- Apr 15, 2011
- Apr 8, 2011
- Apr 1, 2011
- Mar 25, 2011
- Mar 18, 2011
- Mar 11, 2011
- Mar 4, 2011
- Feb 25, 2011
- Feb 18, 2011
- Feb 11, 2011
- Feb 4, 2011
- Jan 28, 2011
- Jan 21, 2011
- Jan 14, 2011
- Jan 7, 2011
- Dec 31, 2010
- Dec 24, 2010
- Dec 17, 2010
- Dec 10, 2010
- Dec 3, 2010
- Nov 24, 2010
- Nov 19, 2010
- Oct 24, 2010
|
|