On December 3rd Judge Steven Rhodes ruled that the City of Detroit is eligible to enter Chapter 9 bankruptcy, the largest municipal bankruptcy in American history. Detroit’s bankruptcy was driven mostly by a severe reduction in revenues. The city’s population has declined dramatically, dating back to the 1967 riots, and the city is plagued by long-term unemployment, causing Detroit’s property and income tax revenues to drop precipitously. There are not even enough taxpayer citizens living in the city to fund necessary city services.
|By: Allison Hantschel Monday July 22, 2013 8:00 pm|
Kevyn Orr, by the way, is getting paid $275,000 to tell people who made $35,000 a year their whole lives to get real. Just in case your irony meter wasn’t already buried in the red zone. T
|By: DSWright Monday July 22, 2013 6:40 am|
As Detroit enters Chapter 9 bankruptcy some are considering the possibility of a federal bailout to dull some of the sharper cuts likely to result.
|By: DSWright Friday July 19, 2013 6:40 am|
The city of Detroit has filed for bankruptcy protection. It is the largest municipal bankruptcy case in U.S. history.
|By: Phoenix Woman Saturday February 16, 2013 4:00 pm|
The backers of this effort to take a longtime public resource and turn it into a plutocrats’ preserve include a who’s who of wealthy right-wing “rugged individualists” and groups who owe their fortunes, in whole or in part, to taxpayers’ generosity. Among them: former Chrysler President Hal Sperlich, who went with Lee Iacocca to Washington, D.C. in 1979 to beg Jimmy Carter’s White House and the U.S. Congress for a government bailout of $1.5 billion, or nearly $4.8 billion in 2013 dollars; and Clark Durant, co-founder of Detroit’s Cornerstone Schools, a charter school system for students of upscale parents that receives lots of Michigan tax money.
Groups involved in the plan include the Koch-funded Mackinac Center for Public Policy, the Walmart heirs (who might want to be saving their money instead, as their cash cow has suddenly gone into a tailspin — “total disaster” is the phrase one Walmart VP used in an internal email), Michigan Pyramid Marketing Pioneers, the VanAndel family and of course Lockwood, who is a board member of the Mackinac Center and gets tax subsidies and government loans for his many development projects.
|By: Jon Walker Thursday November 8, 2012 8:51 am|
Now that the election is over and the bloated corpse of the Romney campaign lies dead in a field somewhere in Ohio, it is time for the autopsy. Having closely watched the campaign for over a year these are the ten biggest mistake I believe Mitt Romney made, in roughly chronological order. For me a true campaign mistake is different from a gaffe or simple bad luck. For it to really be a “mistake,” it had to be a planned political decision.
|By: Jon Walker Wednesday August 15, 2012 1:10 pm|
In addition to several state ballot initiatives on marijuana, November will also feature several big marijuana reform initiatives that will be decided at the local level. The latest one to make a local ballot is an initiative in Grand Rapids Michigan to decriminalize small possession of cannabis.
|By: David Dayen Thursday April 5, 2012 6:00 am|
Brad Plumer has a well-reported article about the domestic auto industry’s comeback, and how it derived from ending the failed business model of selling more and more gas guzzlers, and responding to consumer desires for lighter, more fuel-efficient cars. The key is the right support and nudges from a government that actually cared about their survival and in what form.
|By: David Dayen Saturday February 25, 2012 1:00 pm|
Everyone was amused throughout the Internets by Mitt Romney holding a speech for 1,200 people inside Ford Field in Detroit, leading to images of a cavernous, empty stadium. And it’s completely puzzling WHY Romney’s advance team would site a speech like this in a big, empty stadium, just waiting for the snickering comments. Heck, for a shockingly small price, Romney’s team could have bought the Pontiac Silverdome and just painted faces on all the seats and piped in some crowd noise.
|By: Jon Walker Wednesday February 15, 2012 9:35 am|
The City of Detroit plans to continue its effort to keep a local marijuana decriminalization initiative off the city ballot despite recently losing the case in the Michigan Court of Appeals. The city plans to appeal the ruling to the State Supreme Court.