Yesterday's Wall Street Journal's editorial was about Michgan Governor Jennifer Granholm going postal over a previous article about the her prosposed changes to Michigan's Single Business Tax (SBT). I can tell you based on my reading of the proposed changes, and discussions my colleagues have had with lobbyists and legislators, these changes were a disguised tax hike. The net effect of it was to transfer a large portion of the tax burden from capital intensive industries like manufacturing (i.e. Automotive) to knowledge based industries (i.e. hi-tech, professional services, high payroll low asset companies). Considering all the talk Granholm made about making Michigan a magnet for research and technology related companies, it is rather ironic that she would want to give them additional disincentives to invest in this state.