Economy

LANSING, MI (MPRN)--   The state treasurer says caution should be the watchword as the Legislature develops plans to deal with a glitch in the federal tax overhaul. If they don’t, that glitch could cost Michigan taxpayers more in state income taxes. 

There are differences among Republicans on what should happen next. Governor Rick Snyder has proposed guaranteeing taxpayers can continue to claim the personal exemption. He even wants a modest increase, so it amounts to a small tax cut. 

DEARBORN, Mich. (AP) — AAA Michigan says gas prices statewide have jumped by about 20 cents per gallon in the past week amid tighter supplies in the Great Lakes region.
       The Dearborn-based auto club says early Monday the average price for self-serve regular unleaded gasoline was about $2.72 per gallon. That's about 54 cents more than at the same point last year.

LANSING, Mich. (AP) — Business leaders from seven Michigan companies are traveling to South America on a trade mission to increase export opportunities.
       The Michigan Economic Development Corp. says the trade mission starts Sunday and runs through Nov. 11 in Brazil and Argentina.
       The trade mission will include meetings with prospective business partners, distributors and customers. It is being led by the Conference of Great Lakes St. Lawrence Governors and Premiers in partnership with the Michigan Economic Development Corp.'s International Trade Program.

YooperShirts

LANSING, Mich. (AP) — The Michigan Department of Natural Resources has formed a partnership with two businesses to sell state park memorabilia and apparel.
       Peninsulas LLC and YooperShirts Inc. will work with the DNR to make state park, trail and boating merchandise available at their brick-and-mortar stores as well as some state park stores, retail outlets and online at the Peninsulas and Yooper Shirts websites.

DEARBORN, Mich. (AP) — AAA Michigan says gas prices statewide have risen by about 6 cents per gallon in the past week.
The Dearborn-based auto club says Monday the average price for self-serve regular unleaded gasoline was about $2.47 per gallon. That's about 8 cents more than at the same point last year.
AAA says the lowest average price was about $2.44 per gallon in the Benton Harbor area. The highest was about $2.53 per gallon in the Traverse City area.

MARQUETTE, MI--   The Lake Superior Community Partnership and Dickinson Area Economic Development Alliance have signed an agreement in which the LSCP will provide services and support to the DAEDA.

Russ Kassin, chairman of the DAEDA, says the board and community stakeholders have planned and gathered resources over the past 15 months to take the county’s economic development to the next level.

DETROIT (AP) — Unemployment is down, consumer confidence is up, and gas prices and interest rates are still low. Even so, U.S. auto sales fell 3 percent last month. It was the sixth straight monthly decline as sales dropped off last year's record pace. Industry analysts say it's no cause for alarm. Sales are dropping slightly because most people who delayed buying autos after the Great Recession have bought new cars already.

HOUGHTON, MI--   The president of the Federal Reserve Bank of Minneapolis is holding a town hall meeting in Houghton later this month.

Neel Kashkari will answer questions about the economy, interest rates, and what the Minneapolis Fed does within the Federal Reserve System. Michigan Technological University Provost, Dr. Jacqueline Huntoon, will moderate a question-and-answer session with Kashkari and attendees.

The town hall will be held Tuesday, June 27 at 5 p.m. at Tech’s Great Lakes Research Center. 

DEARBORN, Mich. (AP) — Ford Motor Co.'s net income fell by 35-percent to $1.6 billion in the first quarter as results were hit by costly recalls, lower sales and rising prices for steel and other materials.
       Without one-time items, including a gain from the closure of a planned plant in Mexico, Ford earned 39 cents per share. Wall Street expected earnings of 35 cents per share, according to analysts polled by FactSet.

PR Newswire

DEARBORN, Mich. (AP) — AAA Michigan says gas prices statewide have risen by about 2 cents per gallon in the past week.
   The Dearborn-based auto club says early Monday the average price for self-serve regular unleaded gasoline was about $2.53 per gallon. That's about 35 cents more than it was at the same point last year.
   AAA says the lowest average price was about $2.41 per gallon in the Marquette area. The highest average was about $2.58 per gallon in the Jackson area.

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