Author Topic: The Detroit News editorializes against the Fremont-Biglari bill.  (Read 6155 times)



Parsad

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Re: The Detroit News editorializes against the Fremont-Biglari bill.
« Reply #1 on: April 26, 2010, 11:06:13 AM »
About time some newspaper wrote about it.  Cheers!
No man is a failure who has friends!

Ballinvarosig Investors

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Re: The Detroit News editorializes against the Fremont-Biglari bill.
« Reply #2 on: April 27, 2010, 09:22:45 AM »
http://detnews.com/article/20100427/OPINION01/4270319/Special-Letter--Protect-state-firms-from-takeovers
Quote
A plan to protect small Michigan businesses from being seized in a hostile takeover by an out-of-state company will not only protect local jobs, it could open the door to new investments in Michigan.

That's why it's vital for the Michigan Legislature to give final approval without delay to Senate Bill 1174, a plan to protect Michigan businesses and jobs that has broad bipartisan support.

Small businesses are driving Michigan's economy. Many of them have deep roots, employ local citizens and give back to their communities. Fremont Insurance Co. is one such small business. Fremont Insurance has been in Fremont, Mich., for more than 134 years, providing insurance to small businesses, boaters, farms, agriculture businesses and local families statewide. Fremont Insurance employs 70 people in the community and partners with about 175 agents statewide.

Now, this important local business is at risk of being seized in a hostile takeover that threatens local jobs and small businesses.

The Michigan Retailers Association represents more than 12,000 general merchandise storefronts in our state. As the association's president, I have worked closely with small businesses across Michigan and have seen firsthand how small businesses like Fremont Insurance Co. create local jobs and provide quality service.

As one of Fremont's independent board members, I also see firsthand how Fremont has developed a culture of putting the community first in everything it does. Fremont regularly gives back to the community and supports local small businesses. Take away Fremont Insurance, and Michigan will lose a partner in our efforts to create jobs and jumpstart our economy.

In fact, SB 1174 could even spark job growth, by encouraging other insurance companies to locate in Michigan. Our elected leaders' Number One job in Lansing is to protect and create jobs in Michigan. Senate Bill 1174 is one measure that can do that.

James Hallan, president and CEO,

Michigan Retailers Association, Lansing
The flipside.