Detroit's Chapter 9 bankruptcy

  1. 0
    http://www.usatoday.com/story/news/n...uptcy/2567131/

    I heard on the radio that if Detroit sold Belle Isle and all its other assets it would still owe more than $! billion.

    I think most of us nurses are in much better financial shape than Detroit.
  2. Get the Hottest Nursing Topics Straight to Your Inbox!

  3. 40 Comments so far...

  4. 1
    Amazing numbers at the end of the article;58 minute police response time, 40%of street lights not working, 8.7% of criminal cases solved. Definitely a city on the decline.
    herring_RN likes this.
  5. 1
    Michigan AG challenges judge's ruling that Detroit bankruptcy is unconstitutional | Detroit Free Press | freep.com
    LANSING — An Ingham County judge says Thursday's historic Detroit bankruptcy filing violates the Michigan Constitution and state law and must be withdrawn.

    n a spate of orders today arising from three separate lawsuits, Aquilina said Gov. Rick Snyder and Detroit emergency manager Kevyn Orr must take no further actions that threaten to diminish the pension benefits of City of Detroit retirees.“I have some very serious concerns because there was this rush to bankruptcy court that didn’t have to occur and shouldn’t have occurred,” Aquilina said.
    “Plaintiffs shouldn’t have been blindsided,” and “this process shouldn’t have been ignored.”

    Vanishing City: The Story Behind Detroit’s Shocking Population Decline | TIME.com
    The news this week that Detroit’s population plunged more than 25% to just 714,000 in the last decade shouldn’t be surprising. The city’s collapse is as well-documented as it is astonishing – the population peaked at nearly 2 million in the 1950s, driven in part by a post-World War II auto industry boom now long gone.

    But for all the talk of Detroit’s revival aspirations, this week’s numbers are sobering. The population decline is a jolt to the city’s self-image. And if people never return, it’s unclear what will happen to Detroit’s nearly 140 square miles — enough to fit Boston, San Francisco and Manhattan with room to spare — that now lie largely vacant. The city, like businesses and governments across America caught in decline, will have to reinvent itself as something smaller. —By Steven Gray
    herring_RN likes this.
  6. 0
    Modern Ruins of Abandoned Detroit (PHOTOS)
    http://www.weather.com/travel/modern...hotos-20130715
  7. 0
    An run by liberal democrats for 50 years.
  8. 2
    The republican leadership will sell the assets to the highest bidders.
    The emergency manager has no accountability to the voters.
    It will be interesting to see how this form of "unrepresentative" government works in Michigan.
    BCgradnurse and aknottedyarn like this.
  9. 0
    It is Bain capitalism at it's finest.
  10. 0
    that's because the leadership in Detroit has been robbing the people blind for decades. Detroit is exactly what's going to happen in this country.


    Quote from anothergrumpyoldRN
    The republican leadership will sell the assets to the highest bidders.
    The emergency manager has no accountability to the voters.
    It will be interesting to see how this form of "unrepresentative" government works in Michigan.
  11. 1
    better call Batman...
    BCgradnurse likes this.
  12. 2
    Detroit's decline was caused by decades of widespread corruption.
    BCgradnurse and TheCommuter like this.


Top