Energy firms eye Wixom Ford plant for giant green park
Xtreme Power of Texas and Clairvoyant Energy of California propose buying the 320acre Wixom Assembly Plant, closed in 2007, to create North Americas largest renewable energy hub with at least 2800 local jobs. They seek state tax breaks and federal loan guarantees to repurpose space for energy storage, solar and wind, plus an on site university.
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Meltdown 101: Bank failures surge amid housing crisis
Washington reports a grim wave of U S bank failures as 83 banks collapse this year, the largest yearly total since the early 1990s. Delinquencies rise on commercial real estate and prime home loans, with Colonial Bank's collapse marking a major blow and regulators flagging 416 banks on the problem list.
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Banks Face Widening Crisis With More Failures Feared
At a glance the crisis could push 100 to 300 more banks into failure while the FDIC flags over 400 banks as troubled. Officials warn the sector remains under stress as confidence frays and institutions search for liquidity and stronger capital.
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