Get ready, folks! It's time for another progress report on America's most forlorn and depressed city, now even deeper in the throes of bankruptcy than ever before.
The city of Detroit filed a 120-page plan for bankruptcy today, including plans for investments in public safety, pensions for retirees and the Detroit Institute of Arts. If you've got time, read it here.
There's nothing more that needs to be said. Honda's latest ad for the Civic uses actual scenes from protests outside the courthouse where the city of Detroit's bankruptcy proceedings are being held to sell Civics.
A U.S. bankruptcy judge has decided that the city of Detroit can enter into bankruptcy, about five months after the city filed for the largest municipal bankruptcy in history. At stake is the future of pensions for thousands of city retirees and artwork in the Detroit Institute of Art worth millions.
Last month, the Detroit Free Press offered a superb explanation of how exactly Detroit went bankrupt. Today, The Detroit News is up to bat, and although their analysis is sadly lacking in .GIFs, it does share more insight on how the industry that drove the Motor City to success also drove it to failure.
The Obama administration announced today that it has "unlocked" $300 million in funds to grant to Detroit to speed up blight removal and restore city services, but make no mistake: It's not a bailout or rescue, and much of the money was already allocated in advance.
This straightforward GIF simplifies the long, but not-as-complicated-as-you-think story of Detroit's recent bankruptcy and counters the idea that it was always inevitable. It comes from this impressively thorough, absolutely must read story on Detroit's bankruptcy from the Detroit Free Press. Leave here and go there…
A federal judge has frozen all lawsuits against the City of Detroit related to its bankruptcy, clearing the way for Chapter 9 reorganization to go ahead, according to news reports.
The City of Detroit may be $18.5 billion in debt and about to initiate the largest municipal bankruptcy in U.S. history, but had you moved a little quicker this weekend, you could have owned it for the low, low price of $7.50. Free shipping, too!
Like I said yesterday: You didn't expect the Detroit Bankruptcy to happen without drama, did you? Today a circuit court judge ruled the bankruptcy filing unconstitutional and ordered it withdrawn. That won't stop the bankruptcy proceedings, however.
Yesterday Detroit declared bankruptcy. It's the biggest American city ever to do so, and as I thought about that I realized I didn't really know what that actually meant for the city. Was the US Landlord General going to kick everyone out and change the locks? So I decided to see exactly what happens to a bankrupt…
You didn't think the bankruptcy of a major American city would go ahead without drama, did you? According to reports, opponents of Detroit's bankruptcy attempted to halt it from proceeding, but they claim they were hoodwinked by the governor and beaten to the courthouse by mere minutes.
The City of Detroit has just filed for Chapter 9 bankruptcy protection, the largest municipal insolvency in U.S. history, according to news reports.