| MUCH
OF STATE BUDGET ADOPTED: Michigan
lawmakers approved much of the next state budget before
they adjourned for a summer break early Saturday, but
they still haven't decided exactly how much money will
be headed to public K-12 schools. School funding is
being held up by a disagreement over Gov. Jennifer Granholm's
plan to open smaller high schools in some Michigan cities.
More...
HIGHLIGHTS OF NEXT
YEAR'S STATE BUDGET: Michigan's
state budget plan for the fiscal year that starts Oct.
1 is coming together at the state Capitol with votes
that began Friday. More...
 INSURER
OFFERS SAFETY TRAINING MATERIALS: More than
4 million students will enter the workforce as seasonal
workers this summer. Those students can be an asset
to your business, but they also are at risk of being
injured if proper safety training isn't provided. In
fact, student workers are nearly twice as likely as
adults to be injured on the job. A Lansing-based insurance
company wants to help their employers mitigate that
risk. More...
HEALTH
CARE BALLOT DRIVE FALLS SHORT: Backers
of universal health care have fallen short of getting
enough signatures to put the issue before Michigan voters
in November. The Healthcare Ballot for Michigan campaign
officially ended Friday. The group
got about 133,000 signatures. More...
SMALL
BUSINESS OWNERS CUT BACK ON SPENDING: More
than one-third of small business owners said that their
personal financial situation as a whole is getting worse,
according to the recent Wells Fargo/Gallup Small Business
Index survey. The survey also found that the sluggish
economy is affecting small business owners' spending
and savings habits. More...
GREAT
LAKES COMPACT PROGRESS: The deal is close to
ratification on the state level, and supporters are
beginning to plot strategy for winning approval from
Washington. More...
OIL
PRICES TOP $143 A BARREL: Oil prices surged
above $143 a barrel for the first time ever Monday,
as a weaker dollar spurred investors to seek refuge
in dollar-denominated oil futures to hedge against inflation.
''The main factors behind the rise today are the U.S.
dollar remains fragile and geopolitical tensions, particularly
surrounding Iran,'' said David Moore, a commodity strategist
at the Commonwealth Bank of Australia in Sydney. ''That's
unsettling for the oil market.'' More...
 FED
SAYS IT AVERTED 'CONTAGION' ON WALL STREET: The
Federal Reserve was scrambling to prevent a ''contagion''
from infecting the nation's financial system when it
took unprecedented actions to back a Bear Stearns rescue
package and provide emergency loans to big Wall Street
firms. The Federal Reserve released documents Friday
providing insights into its private deliberations in
March that led to those controversial decisions. The
Fed's actions came when credit and financial problems
were intensifying, threatening to paralyze the entire
financial system and plunge the economy into a recession.
More...
FED
EYES MAKING IT EASIER TO INVEST IN BANKS: The
Federal Reserve is looking into making it easier for
private equity firms to invest in banks, a move that
could usher new capital infusions to cash-hungry banks
and help them cope with credit problems. Fed Chairman
Ben Bernanke and Treasury Secretary Henry Paulson have
been encouraging banks to raise more money to rebuild
balance sheets that have been hit by billions of dollars
in losses from bad investments in mortgage-backed securities.
A global credit crisis and financial turmoil have made
it increasingly difficult for banks, Wall Street firms
and other financial institutions to line up capital.
More...
WORLDWIDE
AUTOMOTIVE REPORT PODCAST: WWJ Newsradio 950's
Jeff Gilbert is keeping a close eye on auto stocks and
auto sales. The American Axle CEO gets an $8.5 million
bonus. Michigan gets a unique new ethanol plant. 
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The
two major presidential candidates are listening to Michigan
– particularly to the auto industry. So, now that
we have their attention what do you want them to hear?
The
millions of economic stimulus payments gave a massive
jolt to household finances in May, sending after-tax
incomes up by the largest amount in 33 years. The payments
helped boost consumer spending by the largest amount
in six months. The Commerce Department reported that
disposable incomes surged by 5.7 percent last month.
It was the biggest increase since May 1975. The surge
in incomes helped boost consumer spending by 0.8 percent,
the biggest gain since last November. 
