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Detroit Debt

Detroit Files Plan To Emerge From Bankruptcy

AP | Posted 02.21.2014 | Business

DETROIT (AP) — Detroit's emergency manager filed a plan Friday to restructure the city's $18 billion debt by making cuts to pensions and creditors w...

Judge Challenges Bankrupt Detroit's Secretive Deal With Banks

The Huffington Post | Ashley Woods | Posted 01.23.2014 | Business

The federal judge overseeing Detroit's historic bankruptcy abruptly halted a trial Wednesday, ordering the city to renegotiate a proposed settlement w...

Detroit Defaults On ANOTHER Debt

AP | Posted 10.03.2013 | Detroit

DETROIT -- DETROIT (AP) — Detroit, not unexpectedly, has defaulted on its most recent general obligation bond debt payment, Moody's Investors Servic...

Detroit Creditors Want Debt Restructured, But Not Kevyn Orr

Reuters | Posted 10.08.2013 | Detroit

* Restructuring proposed for unlimited tax GO bonds-source * Debt overhaul to provide more liquidity to the city-source ...

A Little Good News For Bankrupt Detroit

Reuters | Posted 10.07.2013 | Detroit

(Corrects day of week to Wednesday, not Tuesday) DETROIT, Aug 7 (Reuters) - Detroit's state-appointed emergency manager said on Wednes...

Why We All Should Be Watching Detroit Carefully

Madeleine Doubek | Posted 10.06.2013 | Chicago
Madeleine Doubek

Talk of Detroit is all the rage these days, and not because their American League baseball team is far superior to ours. It's the talk because it's the largest U.S. city to have declared bankruptcy and the rest of the nation should be watching to see how that all turns out.

INFOGRAPHIC: What $18 Billion Can Buy

Posted 11.11.2013 | Detroit

Since the extent of Detroit's fiscal crisis was revealed when the city filed for bankruptcy last month, efforts have been made to quantify its assets,...

What The Big Three's Comeback Means For Detroit

AP | TOM KRISHER | Posted 07.19.2013 | Detroit

DETROIT -- Four years ago, America's Big Three automakers mortgaged all they owned or went into bankruptcy court to keep from going broke. Since then...

Detroit Will Stop Paying Its Bills

Reuters | Posted 08.14.2013 | Detroit

By Bernie Woodall and Steve Neavling DETROIT, June 14 (Reuters) - Detroit said on Friday it would stop making payments...

Orr Drives A Hard Bargain

Reuters | Posted 08.07.2013 | Detroit

By Steve Neavling DETROIT, June 7 (Reuters) - Detroit Emergency Manager Kevyn Orr plans to deliver grim news to the city's creditors n...

Clock Is Ticking For Detroit

Reuters | Posted 07.20.2013 | Detroit

By Bernie Woodall and Karen Pierog DETROIT, May 19 (Reuters) - Bond restructurings, negotiated settlements with bondholders and bond i...

'Vulture' Hedge Funds Looking To Profit On Detroit Debt

Reuters | Posted 07.08.2013 | Detroit

By Tom Hals May 8 (Reuters) - In the past two decades, a group of specialized hedge funds have transformed corporate bankruptcies, in...

Ratings Agency Hedges On Detroit Consent Agreement

Reuters | Posted 06.25.2012 | Detroit

(Adds details, background) April 25 (Reuters) - An agreement between Detroit and state of Michigan officials provides "a strong framew...

Matt Sledge

Moody's Says Detroit Financial Advisory Board Helps Avert Bankruptcy

HuffingtonPost.com | Matt Sledge | Posted 04.16.2012 | Detroit

A month after Moody's Investors Service downgraded more than $2.5 billion of Detroit's debt to below investment grade, the city is still under review ...

Detroit Sells Bonds To Raise Cash

The Huffington Post | Simone Landon | Posted 03.27.2012 | Detroit

Detroit City Council voted Tuesday to approve a bond sale and immediately free up $19 million in cash for the financially beleaguered city. In a p...

Detroit's 2nd Downgrade In 2 Days

Reuters | Posted 05.22.2012 | Detroit

(Recasts, adds legal action, union announcement, letter from Congressmen, background) March 22 (Reuters) - With no consensus on how to...

DOWNGRADED: Detroit's Debt Now 'Below Investment Grade'

AP | Posted 03.21.2012 | Detroit

DETROIT -- Moody's Investors Service has downgraded more than $2.5 billion of Detroit's debt below investment grade, possibly making it even more diff...

Bing, City Council Still Mum On Financial Progress

The Huffington Post | Simone Landon | Posted 02.01.2012 | Detroit

Detroit City Council and Mayor Dave Bing have yet to come to an agreement on how to address the city's budget deficit as the threat of a state takeove...

Culture of Spending More Money Than Detroit Generates Must Change

Gary A. Brown | Posted 02.11.2012 | Detroit
Gary A. Brown

When we fail to fix the structural costs and deliver a workable plan-of-action to pay down our debt in the City of Detroit, we jeopardize future prosperity. We must transform a spendthrift culture to one of fiscal responsibility.