Illinois a little jealous of Michigan tourism. CBS news in St. Louis detailed a state house hearing in which many complained that Michigan is outspending Illinois in tourism promotion. The state of Illinois earns more from tourism than Michigan does. But as Changing Gears noted yesterday, Michigan is pumping more dollars into its Pure Michigan campaign to try to increase the money visitors will spend there. At the hearing, lawmakers said each dollar Illinois spends on tourism promotion will reap six to nine dollars in return. Pure Michigan puts its return on investment at five dollars for every dollar spent on the campaign.
Michigan governor lobbies to improve state?s bond rating. According to the Associated Press, Governor Rick Snyder traveled to New York yesterday to meet with all the bond rating agencies. He is trying to convince them Michigan is more credit-worthy than their ratings imply. A bond rating is essentially a state?s credit score; a higher bond rating makes investors more comfortable investing in state projects. There are three bond rating agencies. One of them, Standard and Poor?s, lowered Michigan?s rating in 2003 to AA-. We?ll be putting up a table of Midwestern state?s bond ratings to go along with our coverage of delayed payments to nonprofits.
Ford shares fall after lawsuit favors dealers. Our partner Michigan Radio reports Ford?s shares fell yesterday after a judge ruled the company owed thousands of dealers a combined $2 billion dollars for overcharging for trucks. Ford is planning to appeal the decision and analysts are saying Ford should be able to absorb the cost.
Source: http://feedproxy.google.com/~r/BrewedFreshDaily/~3/FfdZFmECCxU/
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