Detroit Is Officially Bankrupt, Judge Says

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. » 12/03/13 11:43am 12/03/13 11:43am

What Role Did The Auto Industry Play In Detroit's Decline?

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. » 10/07/13 9:41am 10/07/13 9:41am

Someone Tried To Auction The City Of Detroit On eBay

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! » 7/22/13 9:30am 7/22/13 9:30am

Detroit Bankruptcy Fights Begin As Judge Declares It Unconstitutional

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 Today a circuit court judge ruled the bankruptcy filing unconstitutional and ordered it withdrawn.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. » 7/19/13 5:09pm 7/19/13 5:09pm

What Exactly Happens Now That Detroit Is Bankrupt?

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… » 7/19/13 2:10pm 7/19/13 2:10pm

We Love Detroit, Even If You Don't

Detroit is bankrupt. Does it hurt to write those words? Honestly, it doesn't. It hurts as much as ripping a Band-Aid off. Detroit is bankrupt. Detroit is bankrupt. Detroit is bankrupt. I can say it a million times, but the emotional effects are minimal. Call it being jaded, or maybe just putting your head in the sand.… » 7/19/13 9:58am 7/19/13 9:58am

Lawyers Trying To Stop Detroit Bankruptcy Claim Governor Tricked Them

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. » 7/18/13 6:14pm 7/18/13 6:14pm