Breaking News

VC Expert Says Michigan Has Become Compelling State For Venture Capital YPSILANTI – One of the most influential women in U.S. finance, who also happens to manage $600 million in Michigan venture capital funds, said the state has distinct advantages over more traditional investing havens making Michigan a compelling place for Venture Capitalists.

Strategic Fund Gives $14 Million In Tax Breaks To Spur $173 Million In Investments LANSING – Michigan government provided nearly $14 million in tax incentives to five businesses and four community improvement projects across the state that are expected to generate $173 million in new investments. The Michigan Strategic Fund said the projects also could create more than 1,100 new jobs.

Compuware Posts Loss, But Beats Wall Street Revenue Expectations DETROIT - Compuware posted a fourth quarter loss this week and missed Wall Street's expectations, but beat revenue expectations. Analysts said the higher-than-expected revenue is a sign to shareholders that higher growth may be in the offing for the computer services company.

Center for Computer Resources Announces Acquires Power IT PETOSKEY - Center for Computer Resources has acquired Power IT, a business technology solutions company based in Petoskey. Terms were not announced.

Snyder Moves Land Bank To Michigan State Housing Development Authority LANSING - The Michigan Land Bank Fast Track Authority is moving from the Michigan Strategic Fund to the Michigan State Housing Development Authority through an executive order Governor Rick Snyder issued Monday.

Michigan April Tax Revenues Jump 18 Percent LANSING - Net revenues from Michigan's major taxes jumped by 18 percent in April compared to April 2012, figures from the Senate Fiscal Agency showed, driven largely by a sharp increase in income tax collections.

Cyber Defense

Microsoft Warns Malware Threatens To Hijack Facebook Accounts SAN FRANCISCO - Microsoft has issued a warning that a new piece of malware masquerading as a Google Chrome extension and Firefox add-on is making the rounds, threatening to hijack Facebook accounts.

Global Cybercrime Ring Stole $45 Million From World Banks SAN FRANCISCO - A global cybercime ring stole $45 million from banks around the world in a matter of hours by hacking a database of prepaid debit cards, federal prosecutors said Thursday.

Entrepreneur's Corner

Autocam Manufacturing Apprenticeship Program Model For Technical Training GRAND RAPIDS - Madalyn Bueche, 19, graduated from Cedar Springs High School in 2011 never thinking she'd end up in a manufacturing apprenticeship program at Autocam Corp.

State Contract Connect Seminar Offered By Automation Alley June 21 TROY - The state of Michigan's Department of Technology, Management and Budget-Procurement has a contract portfolio of 1,200 multiyear contracts worth billions of dollars. To help local business owners win state contracts, Automation Alley is hosting a Contract Connect seminar on June 21.

CleanUpdate

Great Lakes Renewable Energy Association Wins Community Solar Garden Grant LANSING – The Michigan Economic Development Corporation announced that the Great Lakes Renewable Energy Association has been awarded a $33,304 grant from the Michigan Energy Office, Renewable Energy Demonstration Program, to perform a Community Solar PV Garden Feasibility Study.

EPA Grants Ottawa County $400,000 To Cleanup Brownfield Sites GRAND RAPIDS - The United States Environmental Protection Agency announced this week that Ottawa County has been awarded $400,000 in grant funds from the Brownfields Assessment, Revolving Loan Fund, and Cleanup Program to assess, cleanup, and redevelop contaminated properties, promote economic development, create jobs, and protect public health.

TiE Detroit

Michigan International Chamber of Commerce Business Awards Gala Dec. 6 NOVI – The Michigan International Chamber of Commerce is seeking nominations from local businesses in nine award categories.

TiE Detroit Creates Angel Group To Invest In Michigan Entrepreneurs NOVI - Michigan entrepreneurs will have yet another Angel group to pitch for investments starting in January when TiE Detroit Angels will officially invite start-ups to submit business plans.

Guest Columns

Pay It Forward By Voting Online To Get Breanna Rose A Wheelchair Accessible Van SOUTH LYON – Help change the life of one special little girl. You need NOT make a donation. You need NOT attend a benefit. All you need to do is give 30 seconds of your day, until May 10th, and you can change the life of Breanna Rose Strange.

Michigan Manufacturers Association Lauds New State Reg Accountability Laws LANSING - Delaney McKinley, Director of Human Resource Policy for the Michigan Manufacturers Association, praised Governor Snyder and the Legislature at the bill signing press conference for legislation (SB 1335, 1336 and HB 5917 and 5922) that establishes greater accountability for state-specific regulations and helps to ensure that Michigan companies are not forced to comply unnecessarily with more stringent standards than their competitors in surrounding states.

Biotechnology

Focus On Disease Prevention Creates Market For Disposable Medical Devices BELMONT - As the health care industry focuses in on disease prevention, care providers are turning to disposable medical devices to help reduce the spread of infections.

Esperion Therapeutics Lands $33 Million In Preferred Stock Financing ANN ARBOR - Esperion Therapeutics, which is developing new therapies to treat high cholesterol that can be taken as a pill, announced it has completed a $33 million preferred stock financing led by new investor Longitude Capital.

Politics

Report: Michigan Public School Retirement Costs Cutting Into Education Spending LANSING - Growing contributions to the Michigan Public School Employees Retirement System are reducing what school districts can spend on other educational services and that effect is likely to continue for the near term, the Citizens Research Council said in a report released Wednesday.

Snyder Signs Uniform Prescription Form Legislation LANSING - Physicians will use one standardized form for obtaining prior authorization from a patient's insurer when a patient seeks coverage for prescribed medicine under legislation signed by Governor Rick Snyder.

New Products/Contracts

Television Pilot, Web Series Receive Film Incentives LANSING – The Michigan Film Office has awarded incentives of $87,153 to the pilot for new a cable television series and $68,348 for the second season of the Internet program "Detroit Rubber."

Billhighway Lands Friends Of Birmingham Historical Museum As New Client TROY- Billhighway has landed Friends of the Birmingham Historical Museum & Park as a new client. The nonprofit organization, whose mission is to support the activities of the Birmingham Historical Museum & Park, will use Billhighway Give to collect credit card payments at onsite events.

Webcasts

Plex Systems Hosts Food Processing Industry SQF Update May 1 AUBURN HILLS - Plex Systems is hosting a webinar for the food processing industry on May 1 to update users on the several new requirements and changes in the SQF Edition 7 certification. Ensure Readiness for SQF Change takes place at 1 pm. EDT.

Intelligence Squared Webcast: "Does The Internet Poison Politics?" NEW YORK - On April 17, Intelligence Squared U.S. will debate "When it Comes to Politics, The Internet is Closing Our Minds. Does the internet poison politics?"