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March 26, 2009 - Image 3

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The Michigan Daily, 2009-03-26

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The Michigan Daily - michigandaily.com

Thursday, March 26, 2009 - 3A

The Michigan Daily - michigandailycom Thursday, March 26, 2009 - 3A

Under pressure,
Cockrel goes public
with finances
Mayor Kenneth Cockrel Jr.
has gone public with his person-
al finances under pressure from
opponent Dave Bing, who had said
he'd refuse to debate Cockrel oth-
Less than an hour before his
Wednesday night debate against
Bing, Cockrel disclosed that he was
paid $109,000 as City Council pres-
ident and mayor last year, while
his wife Kimberley made $65,000
from the Detroit Public Schools
and Detroit Medical Center.
Cockrel also listed ahome carry-
ing a mortgage balance of $132,973;
two cars; investments including
stocks, mutual funds, retirement
accounts; and college savings
Bing released financial state-
ments last fall indicating his worth
is less than $3 million.
Cockrel and Bing, a business-
man and former Detroit Pistons
star, face off May 5 to complete the
term of former Mayor Kwame Kil-
patrick, which expires Dec. 31.
State to help give
cash influx to
Struggling auto suppliers who
need a quick infusion of cash and
are already receiving state tax cred-
its would get a lump-sum payment
under a plan being considered by
the Michigan House.
The proposal passed Wednesday
by a House committee would give
auto suppliers who already receive
multiyear Michigan Economic
Growth Authority tax credits all the
money up front before 2011. In some
cases, the credits now are provided
over a decade or more.
The proposal is designed to give
financially troubled auto suppli-
ers a cash infusion and give them
an incentive to consolidate their
operations and preserve jobs in
The proposal, which likely soon
will come up for a vote on the House
floor, would be limited so it could
not cost the state more than $250
million. The bill itself does not pro-
vide a way to pay for the program,
but House Speaker Andy Dillon said
I he is working with the state Trea-
sury on a possible mechanism to
avoid costing the state any general
tax revenue. That mechanism could
include a revenue bond that would
bepaid off with revenue from Mich-
igan's main business tax.
French workers
riot in response to
3M job cuts
French workers burned tires,
marched on the presidential palace
and held a manager of U.S. manu-
facturer 3M hostage yesterday as
anger mounted over job cuts and

executive bonuses.
Rising public outrage at employ-
ers on both sides of the Atlantic has
been triggered by executives cash-
ing in bonus checks even as their
companies were kept afloat with bil-
lions of euros (dollars) in taxpayers'
money and unemployment soars.
As the U.S. administration seeks
ways of recouping some of the $165
million in bonuses paid to executives
tional Group Inc., kept afloatby $170
billion in taxpayer bailout money,
French President Nicolas Sarkozy
is threatening new laws on bonuses
Flood threatens
capital city
A Demolition crews blasted
chunks of ice near a huge ice jam
in the Missouri River yesterday in
a bid to open a channel, like pull-
ing out a giant plug to drain a flood
threatening the city.
"We are cautiously optimistic,"
Bismarck Mayor John Warford
said after explosives detonated on
about 500 feet of ice just south of
the jam. He said officials would
have a better assessment Wednes-
day night but that water appeared
to be moving.
Water backing up behind the
dam of car-size ice blocks already
had forced the evacuation of about
1,700 people from low-lying areas
in North Dakota's capital.

mirror Obama's
budget priorities


dent I
any o
els en

ongress unveils class tax relief and cut the deficit
in half," Senate Majority Leader
budget, with Harry Reid, D-Nev., said after
the chief executive met privately
ocus on health in the Capitol with rank-and-file
care, energy Earlier, White House Budget
Director Peter Orszag told report-
4SHINGTON (AP) - In a ersthe congressional budgets "may
gtime show of unity, congres- not be identical twins to what the
Democrats welcomed Presi- president submitted, but they are
Barack Obama to the Capitol certainly brothers that look an
esday and unveiled budget awful lot alike."
rintsthatembracehiskeypri- Neither house included the
s and point the way for major $250 billion that the administra-
ation this year on health care, tion seeks for any future financial
y and education. industry bailout. Additionally,
en so, both the House and Both House and Senate Democrats
*e versions lack specifics for assume in their version that
fthe administration's signa- Obama's $400 tax credit for most
proposals. And Democrats workers will expire after 2010 and
ed to cut spending - and fail to permanently extend relief
ding deficits - below lev- from the alternative minimum tax.
visioned in the plan Obama But none of that means the tax
nted less than a month ago. cuts can't be kept in place in 2011
ministration officials and and beyond, only that lawmak-
essional leaders said any ers would have to find offsetting
'ences were modest. revenue to pay for them, said
his budget will protect Presi- Kent Conrad of North Dakota,
Obama's priorities - educa- chairman of the Senate Budget
energy, health care, middle Committee.

Israel's Prime Minister designate Benjamin Netanyahu is seen before givinga speech at an economic conference in Jerusalem yesterday.
Netanyahu softens as
he prepares to takeover

Candidates for
mayor face-off

David Bing and
Ken Cockrel Jr.
clash in debate
DETROIT (AP) - The two can-
didates vying for the Detroit may-
or's office outlined their plans to
turnaround the cash-strapped
city in their first one-on-one
debate last night.
During a sometimes fiery event
held in front of a capacity audi-
ence at the Charles H. Wright
Museum of African American
History, businessman Dave Bing
said "Detroit is in a crisis" and he
wants to end the city's failed lead-
ership and restore integrity to the
mayor's office.
Mayor Ken Cockrel Jr. said
Detroit faces "significant challeng-

es" but he's been a calming influ-
ence in city government during his
short time as mayor. He touted the
opening ofpolice mini-stations and
efforts to secure federal stimulus
funds under his watch.
The nearly hour-long program
included questions posed by jour-
nalists from The Detroit News
and Detroit Free Press.
Bing criticized Cockrel's plan
for a 10 percent wage cut and lay-
offs of about 57 workers as a way
to help cut the budget deficit.
"That's a drop in the bucket
relative to the deficit we're fac-
ing," Bing said of the layoffs. "I
think the sense of urgency was
never there. It seems to me that
all we're doing is slowing the
process down so we don't have to
get people angry when we go to
the polls."

Incoming PM says
Israel will be a
"partner for peace"
JERUSALEM (AP) - Incoming
Prime Minister Benjamin Netanya-
hu said Wednesday his government
will be a "partner for peace with
the Palestinians," the latest sign
that the new Israeli leader is soften-
ing his stand as he prepares to take
office next week.
Netanyahu, who has been skepti-
pledge a day after President Barack
Obama said the U.S. will push for
creation of a Palestinian state.
The prime minister-designate
said he will seek parliamentary
approval for his new government
next week. Then he would take over
as head of a government dominated
by hawkish parties, but potentially
moderated by the presence of the
centrist Labor Party.
Labor has been at the forefront of
Mideast peace efforts, while Netan-
yahu has a record of rebuffing peace

moves that require Israeli conces-
sions. To entice a reluctant Labor
into his coalition, Netanyahu had
to promise to pursue peace with
the Palestinians, but stopped short
of pledgingto work for creation of a
Palestinian state - a cornerstone of
peace plans for more than a decade.
In the campaign before the Feb.
10 election that propelled him
toward the premiership, Netan-
yahu disparaged talks on a peace
treaty, saying the proper approach
was to first build up the Palestinian
Palestinian leaders rejected
that, and during her visit here this
month, Secretary of State' Hillary
Rodham Clinton made a point of
calling for creation of a Palestinian
state at every opportunity.
That set up a possible head-on
clash between Israel and its most
powerful allybutNetanyahuinsists
this won't happen and put a positive
face on the situation in a speech to
a joint Israeli-Palestinian economic
Peace is a "common and endur-
ing goal for all Israelis and Israeli

governments, mine included,"
Netanyahu said. "This means I
will negotiate with the Palestinian
Authority for peace."
He said the Palestinians "should
understand that they have in our
government a partner for peace, for
security, for the rapid development
of the Palestinian economy."
In the West Bank, officials in
the Western-backed government
of President Mahmoud Abbas were
skeptical, andspokesmanNabilAbu
Rdeneh dismissed Netanyahu's call
for economic development.
"Any solutions with other slo-
gans and titles are only an attempt
to escape the commitments of the
peace process," he said, listing the
main issues in negotiations for a
state: borders, settlements and
At a news conference Tuesday,
Obama said the makeup of the
new Israeli government was still
unclear, and peacemaking is "not
easier than it was, but I think it's
just as necessary."
Besides Labor, Netanyahu's main
partner is Yisrael Beitenu.

First Annual Victors Run for
Diabetes Awareness 5k
Hosted by Students for Diabetes Awareness
Saturday, April 4th at 11:00AM
at The Nichols Arboretum
To Register visit our website:
SDAumich.wordpress.com or Active.com
$20 online before the event
$25 day of
For more information contact:

Win an all-expenses-paid shadowing
opportunity in Chicago this spring!
Dream jobs-alumni have them. And we can hook you up with
Michigan Apprentice, a free one-day shadowing opportunity with
high-profile alumni. The Alumni Association will help you prepare
for your next stage in life even before you graduate.
Here's your chance for an unforgettable career and personal
development experience with top-notch Michigan alumni. If you're
a junior or senior you could be selected for an all-expenses-paid
one-day internship.
Here are the spring 2009 Michigan Apprentice opportunities:
* Mark Silverman, '91, president of the Big Ten Network
" Brian Kerwin, '86, co-vice chair of the law firm of Duane Morris, LLP.
" Jennifer Golomb, '99, marketing manager of the Altoids brand at the
Wm. Wrigley Jr. Company
" Robert R. Bellick, '87, co-founder of Wolverine Trading, LLC
* David S. Evans, '85, chairman of Glencoe Limited, LLC, a Chicago-
based merchant bank.


Application deadline is Sunday, April 5.
Get details on how to apply at


- Compiled from
Daily wire reports

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