A medical professor was fired by Wayne State University, which has a location in Detroit, Michigan. After his termination, he started a lawsuit against the university, a lawsuit that has been investigated by the federal government. In the suit, he claims that the university took around $169 million, which was obtained through grants and the like, to use in ways that were not intended.
Michigan firm could merge with Ohio firm
A Michigan-based money management firm, Munder Capital, could end up merging with an Ohio-based firm called Victory Capital Management Inc. This comes in the wake of an attempted sale that never went through. In November of last year, Munder Capital was offered up for sale, and the desired price point was reportedly around $400 million. However, when the offers actually came in, the highest one was reported to be around $280 million. Since this was so much lower than the objective, the sale was cancelled.
New tech company in Michigan focuses on cloud computing
A new tech company in Michigan has been created by a man who used to be the chief executive officer of Compuware, though he was briefly retired before this newest venture. His new company, MadDog Technology, is located in Birmingham, and the start-up is going to be slightly different than what he has done in the past. It is also making waves in the industry because most tech start-ups are opened by young people, not retired CEOs.
Contract dispute with Michigan teachers ends
A contract dispute between Michigan-based teachers and a charter school finally ended when the two sides were able to reach a settlement. The teachers had been arguing that they were being given poor working conditions and that they were not being treated fairly. They wanted that treatment to end, and they also wanted some assurance that things would be different in the future.
