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Special Report: Highway Headache: Part 2

Updated: Saturday, August 3, 2013 |
Special Report: Highway Headache: Part 2 story image
WEST MICHIGAN (NEWSCHANNEL 3) - It's one of the busiest highways in the state, and one many of us travel every day.

The stretch of I-94 from Kalamazoo to Battle Creek is consistently filled with traffic tie-ups, bad accidents, and road closures.

But a plan to fix these frustrating issues may be gaining some traction, if political leaders don't slow it down.

Our I-Team investigation the past few months found there's very littel innovating and imagining these days when it comes to trying to fix a traffic problem spot.

Many of our leaders, it appears, simply feel defeated enough to not even begin to look at expanding our section of road that is in desperate need.

I-94 is the busiest two-lane highway in the entire state.

Incremental work has been done, and some work may be done in the next 15 years to fully expand I-94 from US-131 to Sprinkle Road, but that's it.

The dream of many for decades in West Michigan is to expand I-94 to three lanes in each direction from Kalamazoo to Jackson, but it would be costly--likely more than $1 billion, we found.

"There's so many players that would come into play," said M-DOT spokesman Nick Schirripa. "The stars would have to align to make that happen."

That didn't stop people in Detroit, though, from dreaming for the past decade.

They have a shovel ready project that would cost well more than $1 billion to fix I-94 through the heart of Detroit.

Once the funding is there, the project will begin.

The Detroit fix has been a 10-to-20 year process, so it appears leaders in our area may be 20 years behind to get it done.

There is an idea out there, however, that could speed up the process significantly.

The thought centers around creating a pay express lane, where you could choose to get away from all those trucks by paying a toll.

Senator Mike Nofs says he would sponsor legislation to get it done, if the federal government would sign off on it without Congressional approval.

The belief is that it's likely creating a toll lane might require an act of Congress, which could put the brakes on the idea for good.

Governor Rick Snyder has said in the past that he's not for tolls, but it appears in our one-on-one interview with him on Wednesday, he might be softening his tone.

He knows how difficult it is to raise revenues to get roads fixed, much less expanded.

The Governor and others say that most of I-94 won't be touched, though, until there's some new revenue coming in to fix what we have.

For a list of billion dollar projects around the country, click here.

For average daily traffic maps for Michigan, click here.
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Business News

Last Update on October 31, 2014 17:47 GMT

CONSUMER SENTIMENT

WASHINGTON (AP) -- U.S. consumers expect better economic growth and rising incomes in the coming months, pushing a measure of confidence to a seven-year high in October.

The University of Michigan says that its index of consumer sentiment rose to 86.9 from 84.6 in September. That's the highest since July 2007, five months before the Great Recession began. Still, the index regularly topped 90 before the downturn.

Richard Curtin, the survey's chief economist, says that almost six in ten of the respondents said the economy has improved recently, the highest proportion in more than 10 years.

The measure is the second this week to show consumer confidence has reached the highest level since the recession. Greater confidence and more hiring could lead to faster spending and healthier economic growth.

CONSUMER SPENDING

WASHINGTON (AP) -- U.S. consumer spending fell in September, the first decline since January, as shoppers took a breather after a big spending spree in August. Income growth posted the slowest gain this year.

The Commerce Department says consumer spending dropped 0.2 percent in September. Income edged up 0.2 percent in September, the smallest monthly gain since a flat reading last December.

The spending decline followed a big 0.5 percent increase in August. In September demand fell for durable goods such as autos and for nondurable goods, a drop that partially reflected falling prices for gasoline.

Spending is closely watched because it accounts for 70 percent of economic activity. Economists believe September will be a temporary pause as continued hiring gains pushing up spending and the overall economy in coming months.

GASOLINE PRICES

NEW YORK (AP) -- The average price of gasoline in the U.S. hit $3 a gallon Friday, and should soon drop below the benchmark for the first time since December 2010.

The price at the pump fell 33 cents in October, thanks mainly to plunging oil prices, according to AAA.

Many exuberant drivers have taken to social media to post pictures of gas station signs with prices of $2.99 or lower. Drivers in South Carolina and Tennessee are paying the lowest prices, with an average of $2.75 a gallon.

Drivers in New York are paying the most in the continental U.S., at an average of $3.37. That's still 22 cents cheaper than a year ago.

Gasoline is cheaper than milk again. In September the national average price of milk was $3.73 per gallon.

EARNS-BIG OIL

NEW YORK (AP) -- Falling oil prices hardly seem to be bothering the two biggest U.S. oil companies, but things could get tougher in the coming months.

Exxon and Chevron leaned on strong performances from their refining operations to increase profits in the third quarter despite plummeting global oil prices.

The global price of oil fell 18 percent from the beginning of the quarter to the end, and it cost both companies. Revenue slipped at Exxon by 4 percent and at Chevron by 8 percent.

But low oil and natural gas prices make for low raw material costs -- and higher profit -- for refining and chemical operations, which turn oil and gas into fuels and chemicals. Profit at Exxon's refining and chemicals operations rose 38 percent compared with a year earlier, and Chevron's profit from its so-called downstream operations more than tripled.

Those results helped Exxon's overall earning rise 3 percent in the quarter to $8.07 billion. Chevron's earnings rose 13 percent to $5.59 billion.

NISSAN-AIR BAG RECALL

DETROIT (AP) -- Nissan says it's recalling more than 1,800 Infiniti SUVs in the U.S. for an air bag problem that could send shrapnel into the passenger compartment.

The recall covers the QX56 SUVs from 2013 and the QX80s from 2014. The company says inflators made by Takata Corp. were built with an incorrect outer baffle part. That can cause pressure to build up, and the inflators can rupture if driver's side air bags are deployed.

Nissan has no reports of injuries from the problem. It was discovered after General Motors recalled 33,000 Cruze compact cars for the same problem in June. The Infiniti recall is part of a larger global recall of 260,000 Nissans announced last week.

Takata says the recall is separate from another one affecting 8 million vehicles in the U.S.

EUROPE-ECONOMY

FRANKFURT, Germany (AP) -- Inflation has crept higher in the 18 countries that use the euro but the rise to 0.4 percent in the year to October is unlikely to offer much relief to the European Central Bank as it tries to boost a weak economy.

The official figure released Friday was up from 0.3 percent the month before.

The European Central Bank is under pressure to give the eurozone another dose of stimulus measures in coming months because inflation is so low and growth so weak. There are fears the eurozone could even fall into outright deflation, a crippling downward price spiral.

Core inflation, a key measure because it excludes volatile food and energy prices, fell to 0.7 percent from 0.8 percent.

The bank's goal is to keep inflation just below 2 percent.

BRITAIN-RBS

LONDON (AP) -- Royal Bank of Scotland, which is majority-owned by the U.K. government, has set aside 400 million pounds ($639 million) to cover potential fines arising from international investigations into alleged manipulation of foreign currency trading.

The total represents over half the 780 million pounds the bank earmarked for "conduct and litigation costs" in third-quarter earnings released Friday.

The results show the bank, which was bailed out by the government during the 2008 financial crisis, swung back to profit during the July-September period. Its net income of 896 million pounds follows an 828 million-pound loss last year.

CEO Ross McEwan says the bank knows it has "a long list of conduct and litigation issues to deal with and much, much more to do to restore our customers' trust in us."

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