Caitlin Devitt

The Indianapolis office of Faegre Baker Daniels LLP announced last week that the firm has hired Jonathon Weinzapfel, the former mayor of Evansville, as counsel.

Cook County's pension fund has seen a 30% drop in its funded status over the last 10 years and without action will be insolvent by 2038, according to a new county analysis.

Despite legislative setbacks and an ongoing battle with a powerful Detroit family, the leaders of Michigan and Canada continue to tout as a top priority a new $4 billion bridge to span the nation's busiest trade route between Detroit and Canada.

Moody's Investors Service Monday knocked down its rating on $4.6 billion of Detroit water and sewer debt by three notches, a move the agency said reflects the risk that the city will default or file for bankruptcy.

Ohio Gov. John Kasich Monday signed into law a $1.74 billion, two-year capital bill, the state’s first new capital budget since 2009.

A financial emergency exists in Muskegon Heights Schools, said an eight-member, state-appointed team that has reviewed the district’s finances.

Fitch Ratings this week affirmed Romulus’ BBB-plus rating and revised its outlook to stable from negative, citing the city’s improving financial operations.

As Detroit and Michigan officials work against the clock to come to an agreement to stabilize the city’s finances, Rep. Hansen Clarke, D-Mich., introduced a bill that would secure up to $500 million in federal funding for the city.

CHICAGO - Michigan officials filed an appeal Tuesday afternoon against a circuit court decision that has prevented the state team reviewing Detroit's finances from meeting.

CHICAGO — The Michigan Senate last week advanced a measure to divert a piece of the state's fuel sales tax to finance transportation infrastructure projects, part of an effort to raise more money for the depleted roads fund.

Shut out of the public market by its junk-bond ratings and fiscal problems, cash-strapped Detroit on Thursday closed an $80 million private placement that pushes off a debt-service payment less than two weeks away.

CHICAGO — After winning the top financial advisor spot in Indiana last year, Sycamore Advisors LLC has hired a new employee and is considering another hire with an eye toward expanding beyond the state over the next few years.

The Pontiac School District plans to privately place $16 million of tax anticipation notes, one of several Michigan school systems eying the increasingly popular alternative to a public offering.

The Michigan Finance Authority was the nation's fifth largest issuer last year, driven largely by its last-minute, late-December issuance of $3.32 billion of short-term bonds to pay off the state's unemployment liability.

The Detroit City Council approved a $150 million bond sale that will generates cash to cover looming debt-service payments.

The board of Kent State University approved a plan to issue $170 million of bonds to finance a large capital improvement plan. The debt will be general-receipts bonds with a 30-year maturity.

Allen Park officials last week sent a letter to Michigan Treasurer Andy Dillon asking the state to launch a preliminary review of the city’s finances. The first step that could lead to a state takeover.

Moody’s Investors Service downgraded to Aa3 from Aa2 Wyoming, Mich.’s sewage disposal revenue bonds, as the city prepares to come to market with a $3.1 million refunding for savings.

Indiana Gov. Mitch Daniels appointed Sen. Connie Lawson as the new secretary of state after Charlie White was convicted of six felonies, including voter fraud.

Michigan Gov. Rick Snyder said Monday that a consent agreement to stabilize Detroit's financial position could be in place by the end of the week.