Redeux News: Homebuyer and Jobless Aid Extended

The bill H.R. 3548 brought before the House was approved today on a 403-12 vote. The Senate passed the bill 98-0 yesterday after weeks of delays.

The legislation would provide 14 additional weeks of unemployment benefits in all states, plus another six weeks in those with jobless rates topping 8.5 percent, according to the Department of Labor. It would also allow the home buyers credit for couples earning up to $225,000 a year and individuals earning up to $125,000. That’s up from the current $75,000 limit for individuals and $150,000 for couples. Under the expanded program, the credit would apply to home purchases under contract by April 30, 2010, as long as they close by June 30.

The extension would allow home buyers who have owned their residence for at least five years to receive a $6,500 credit. Those who sell their new home or no longer use it as their main residence within three years would have to repay the credit. Homes worth more than $800,000 wouldn’t be eligible.

According to Smari Money'sLisa Scherze, the new tax credit - coupled with low mortgage rates and the supply of affordably priced homes on the market - may give many people who had been ambivalent of buying that extra nudge to step into the market.

Congress estimates that the bill would not add to the federal budget deficit, in part because it would be financed by delaying until 2018 a tax break for multinational corporations related to taxes they pay abroad. The legislation would also extend a 0.2 percent employer payroll surtax that otherwise would have expired at the end of the year. However, the provision has received complaints from the U.S. Chamber of Commerce, the National Federation of Independent Business and other business groups.

Do it in Detroit: Good Girls Go To Paris Crepes

Credit:Lindsey Muliolos/Special to Metromix

Good Girls Go To Paris Crêpes a small carryout-only crêperie is the brain-child of Torya Blanchard, a French teacher turned crêperie owner, who was inspired to stop teaching French and start making crêpes in Detroit.

With an additional location at 15 E. Kirby Detroit 48202, the Good Girl restaurant features over 20 varieties of crêpes and a plethora of ingredients. You can also find the the Good Girls restaurant at Shed 2 at the Eastern Market on Saturdays from 8:30 am-3:00pm.

Good Girls Go To Paris Crêpes is always looking for new ideas. You can submit crêpes concepts by phone 1-877-PARIS CREPES or email (goodgirlsgotopariscrepes@gmail.com).

Address: 2 John R., Detroit, MI, 48226 get directions

NEW LOCATION:15 Kirby, Detroit, MI, 48202 get directions

Hours:

9 a.m.-7 p.m. Mon.-Thu.

9 a.m.-10 p.m. Fri.

10 a.m.-10 p.m. Sat.

9 a.m.-1 p.m. Sun.

Redeux News: Deal to sell Saturn to Penske, falls through

Courtesy: Baltimore Sun photo by Kim Hairston / November 12, 2008

General Motors, a Detroit, Michigan based company's deal to sell Saturn to the Penske Automotive Group, headquartered in Bloomfield Hills, Michigan, has fallen through, forcing the automaker to shutter. Saturn has been know to be one of the most affordable car's for the middle class that didn't hold out on quality and style.

The sale had been expected to be completed as soon as this week. The announcement comes nearly four months after Penske agreed to buy the rights to the 19-year old brand from GM when the automaker was in bankruptcy. According to the Baltimore Sun, although the sales price was never disclosed, Penske was to have gotten Saturn's roughly 350 dealerships and promised to retain 13,000 employees.

"Penske Automotive Group, has decided to terminate discussions with General Motors to acquire Saturn," GM Chief Executive Fritz Henderson said in a statement. Instead of selling Saturn, GM will close the brand altogether. It said Wednesday that its Saturn dealers already had signed a "wind-down agreement." Under terms of a similar agreement signed by some other GM dealers, all new-car sales operations must cease by late 2010.

The news is a blow to both GM and the Detroit economy. GM had made selling three of its brands, along with shutting Pontiac, a key component of its post-bankruptcy restructuring efforts.

According to New York Times Business writers, Nick Bunkley and Bill Vlasic, Penske Automotive had an agreement with a potential manufacturer of future Saturn products but had been rejected by that company’s board. Penske, which currently distributes the SmartCar in the U.S., planned to continue selling GM-made Saturns at dealerships for the next year or two, by which time it planned to have lined up a foreign supplier to provide new cars badged as Saturns. Penske Automotive declined to name the company, but people familiar with the transaction said that the Renault-Nissan alliance had been involved in discussions.

Paul Sancya/Associated Press Photo
Courtesy of New YorkTimes
Roger Penske pulled his company's bid to buy G.M.'s Saturn division.

"Today's disappointing news comes at a time when we'd hoped for a successful launch of the Saturn brand into a new chapter," said GM Chief Executive Fritz Henderson in a statement. "We will be working closely with our dealers to ensure Saturn customers are cared for as we transition them to other GM dealers in the months ahead."

The automaker said Saturn owners will still be able to have their cars serviced at GM dealerships after Saturn is shuttered.
Shares of the auto dealer fell 10% just hours after the announcement.

--Detroit Free Press's Tim Higgins contributed to this story.

You Are What You Eat Michiganders!

On Tuesday, August 25, 2009, Jennifer Granholm stood outside of Peaches & Greens, a local Detroit produce store and announced the launch of a food service program that would provide fresh produce to city neighborhoods. A much
needed service for local residents who's diets are suffering due to the recent economic recession.

Detroit has been identified as a place where quality groceries and produce are not readily available. Many Detroit residents are forced to shop for groceries at convenience stores and gas stations because there are few real grocery stores inside the city limits. Many of those have limited operating hours and inflated prices.

Gov. Jennifer Granholm

The innovative program labeled MI (pronounced "my") Neighborhood Food Movers, is the result of a partnership between the state and three nonprofit organizations. In addition to Peaches
& Greens, Up South Foods and Field of Our Dreams
will be joining the team of produce companies that
are expected to hit the streets for a 4-month trial period.

Granholm's program, which will be funded by a $75,000 low-interest loan from the state, will deliver fruits and vegetables to residents with a vendor-style truck, according to the Detroit Free Press. When the produce truck, which will bear a MI Neighborhood Food Movers logo, roves through neighborhoods on a fixed route and schedule, residents in Michigan’s largest city will have the option of healthier food choices and easier access to fresh fruits and vegetables.

Food Movers is focusing on three areas: one bounded by Woodward Ave., Dexter, W. Grand Blvd. and Glendale; the Jefferson/Chalmers area on the East Side; and Forest, E. Jefferson, Mt. Elliott and Conner. Some Detroiters counter that the program may not be successful due to the limitations to routes as well as the "lackadaisical" mentality of many Detroiters who don't seem to take well to programs no matter the convenience or benefit to their overall health.

Jocelyn Harris, 59, a Detroiter who is the proprietor of Up South Foods, appeared overjoyed with the announcement. "This is a miraculous day indeed for many Detroit residents and a dream come true for me," said the former Detroit science teacher. "I can feel this project is destined for greatness."

After the 4-month trial period, the Food Movers program is expected to be able to expand to include more local vendors covering a broader range of geographic areas.