Tuesday, June 3, 2008

Economic Roundup -- more pain

General Motors will probably announce more cuts and restructuring today.(Reuters) According to the Globe and Mail this will include 1000 jobs slashed at the Owasha, Ontario plant that makes large pickups. Expect cuts in Michigan, as well.

Gaming the system? Greektown Casino has filed for bankruptcy and will seek court approval today of a bankruptcy loan. (Free Press) Borrowing money to lose less money -- you have to love that.

High school dropouts cost the state billions in lost wages, say experts. (mlive)