Quantcast
Channel: Detroit financial crisis
Browsing latest articles
Browse All 120 View Live

Other cultural institutions on notice after DIA assets counted

The Detroit News' Christine Ferretti writes this morning that other Detroit cultural institutions are on high alert after the news came that assets at the Detroit Institute of Arts are being counted as...

View Article



Detroit's Van Gogh better off in LA? Freep writer says that's crazy

In a recent piece in Bloomberg, Virginia Postrel (a political and cultural writer) argues that the "cause of art would be better served" if the DIA's major works were in other, 'more deserving' cities....

View Article

Detroit's emergency manager launches key talks with creditors

Detroit’s emergency manager Kevyn Orr sits down with the city’s major creditors Friday. The meeting sets up negotiations that could help Detroit avoid filing for bankruptcy—or lay the groundwork for...

View Article

Orr's restructuring plan released, historic meeting with Detroit's creditors...

Update 12:45 The meeting has ended. We'll have updates later today on Orr's plan and reaction to it from other stakeholders. The Detroit Free Press' Matt Helms tweeted a shot of Orr talking to the...

View Article

Orr's plan to remake Detroit

When Kevyn Orr was announced as Detroit's emergency manager, he said he took the job because of the challenge - the "Olympics of restructuring" he called it. Today, Orr unveiled his plan for that...

View Article


In this morning's news: Jenkins replaces Pugh, income tax bill, Orr meets...

Saunteel Jenkins replaces Charles Pugh as Detroit City Council President "Saunteel Jenkins is the new President of the Detroit City Council. The Council voted on new leadership after it lost its two...

View Article

Detroit pension funds sue city's emergency manager, governor in attempt to...

Two Detroit pension funds have sued the city’s emergency manager, Kevyn Orr, and Governor Rick Snyder in an attempt to block the Motor City from filing for bankruptcy.The General Retirement System and...

View Article

City of Detroit files for federal bankruptcy protection

The city of Detroit has filed for Chapter 9 federal bankruptcy protection making it the largest city in U.S. history to declare bankruptcy. We are updating this post as we learn more information. To...

View Article


7 questions and answers about Detroit's bankruptcy

Detroit filed for Chapter 9 federal bankruptcy protection yesterday. The federal courts have never seen a municipal bankruptcy filing of this size, so there are a lot of questions out there. Earlier...

View Article


Economist says banks should be at the back of the line in Detroit bankruptcy

Nobel Prize winning economist Joseph Stiglitz wrote about Detroit's bankruptcy filing in yesterday's New York Times. In his opinion piece, The Wrong Lessons from Detroit's Bankruptcy, Stiglitz writes...

View Article

Consultant fees charged to the city of Detroit scrutinized

Bills being charged to the city of Detroit in its restructuring are under the spotlight. Last month, legal fees charged by Kevyn Orr's former law firm, Jones Day, were highlighted in a piece by AM Law...

View Article

First public debt is issued in Michigan since Detroit bankruptcy

People are willing to loan money to Michigan public entities again: that's according to Brian O'Connor, the finance editor at the Detroit News. O'Connor writes that when Ypsilanti Community Schools and...

View Article

Orr says Detroit's parking system losing money, considering sale

The Detroit News reports that Kevyn Orr is considering a sale of the city's parking system. Michigan Radio's Sarah Cwiek is looking into this story further and will have more later. Parking systems can...

View Article


Detroit Mayor Bing feeling sidelined, has advice for next mayor

Detroit Mayor Dave Bing will finish his term at the end of the year, and according to Matt Helms of the Detroit Free Press, Bing is going out feeling frustrated. Contrary to what the state and city had...

View Article

Plans move ahead to fix Detroit streetlights

DETROIT (AP) — Crews will begin a block-by-block review of streetlights in two Detroit neighborhoods this week as part of a three-year plan to overhaul the city's decrepit lighting system. Fewer than...

View Article


Detroit's EM hints at how he might use DIA art to help city

Detroit Emergency Manager Kevyn Orr has sent out the strongest hint yet that prized pieces in the DIA collection are on the table as a way to put money into the city coffers. Without offering many...

View Article

Can Detroit really get bankruptcy protection? Hearing starts today, Snyder to...

Detroit is NOT in bankruptcy. Not yet, anyway. That's what the bankruptcy hearing, which started today, is all about. The federal bankruptcy judge will decide whether the city is allowed to protect...

View Article


Merging Detroit and Wayne County is the only long-term strategy that makes sense

Well, it was quite a week for our state’s largest city. Voters elected a white mayor for the first time since 1969. Had you gone to Lloyds of London 10 years ago and bet that within a decade, America...

View Article

Judge will soon decide whether Detroit will get bankruptcy protection

Today is the last day U.S. Bankruptcy Judge Steven Rhodes will accept documents from all sides of the Detroit bankruptcy case. Rhodes will then look at all the evidence and decide whether the city of...

View Article

Judge rules Detroit is eligible for bankruptcy, city can protect itself under...

U.S. Bankruptcy Judge Steven Rhodes ruled this morning that the city of Detroit is allowed to protect itself from its creditors under Chapter 9 municipal bankruptcy protection. In his ruling, Rhodes...

View Article
Browsing latest articles
Browse All 120 View Live




Latest Images