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Pete Bigelow · Midwest Memo: Michigan Foreclosure Rate Spikes, Groupon Regains IPO Momentum
September 15th, 2011
Three stories making news across the Midwest today:
1. Foreclosures spike in Michigan. Foreclosure filings in Michigan had slowed during the first half of 2011, but jumped 36 percent from July to August, according to new data. Daren Bloomquist of RealtyTrac tells our partner station Michigan Radio that banks had noticed a decline in the number of repossessed hopes they were trying to sell, and therefore “more willing to push properties into the foreclosure.”
2. Public vs. private workers. A study that compares the compensation of public and private workers in Ohio says that the total compensation for public employees is worth 43 percent more than their private-worker counterparts. Amid the backdrop of controversial collective bargaining legislation known as SB5, the compensation study has become controversial itself says our partner Ideastream. Amy Hanauer, spokesperson for a left-leaning think tank, says the study is “preposterous” and cites a Rutgers University study that determined the total compensation is “pretty much a wash.”
3. Groupon IPO regains momentum. Groupon will seek to hold its initial public offering in October or November, sources told The New York Times on Wednesday. One week after the daily-deals website postponed the IPO to wait out market volatility, the company’s renewed interest comes as part of “a resolution between the company” and SEC regarding CEO Andrew Mason’s critical memo that was leaked last month about the company’s health.
