Last week, Reuters reported that a company called Art Capital expressed its willingness to loan the city $4 billion if it uses its artwork as collateral. In fact, the Detroit Institute of Arts' collection may be worth even more.
Every business, including my own, has its own self-sustainment as its primary goal; yet, we Detroiters tend to include in our personal goals a desire - a need - to help Detroit.
Jamaal calls himself a 'working artist,' which spans a broad spectrum. One of America's most talented and recognized slam poets, he has expanded his talents as a writer and performer to the page.
How long and how much would it take to train a critical mass of native-born Americans to qualify for the jobs Detroit needs to bring its economy out of the tank? What happens if we do nothing but import a new middle class?
I believe Fernando Palazuelo, the new owner of the Packard Plant, is going to be successful beyond our expectations in his goal of redeveloping the Packard for several reasons you may not have thought of.
Mayor Duggan cannot rest his laurels on mere trash pick up and snow removal. He has got to attack poverty in Detroit head on.
A deal still has to be made to rescue the city and all stakeholders should have some say if the end result is to sustain a vibrant and viable city.
Why would the Department of Public Works consider removing a traffic light in an area so close to highest concentration of jobs and workers? It's not rocket science. This intersection no longer endures the volume of traffic to justify a stoplight.
The Los Angeles Auto Show is a somewhat quiet affair for the Detroit Three. But the auto show that is in the city where General Motors, Ford and Chrysler all covet better sales, is not without news and a few meaningful curtain raisers.
The question for Marchionne, and those possibly teed up to buy the shares of the storied automaker is this: Is Chrysler a "buy"?
As Detroit has made a game of comparing ourselves to other cities, we've too often overlooked what makes us special and unique on our own terms. Park Avenue is a good example.
Is Detroit a basket case? Indeed, many of us who work and live in the Detroit metropolitan area are becoming thoroughly annoyed with the tears of the media. It seems as if many Americans are using us to deflect other unsolved problems by implying that "we are not as bad as Detroit."
As the federal government shutdown grips the nation, many people in local communities feel disgusted and powerless to change what's happening. But we needn't despair. Here are three basic steps individuals and groups in communities can take immediately to combat head-on the ill effects of the shutdown.
Do you think the damage from the pending bankruptcy of the city of Detroit will be limited to Detroit? Think again. Detroit is partly the victim of economic trends far beyond its control, the downsizing and outsourcing of the auto industry and the collapse of the sub-prime bubble, to name just two. And yes, the city has suffered from corrupt and inept local government. But leaving Detroit to a bankruptcy process that favors investment bankers over local pensioners will neither provide a fair outcome nor contain the damage. It is a travesty that the federal government and the Michigan state government are not sending Detroit a lifeline. Other cities and states stand to lose both public services and pension benefits as this trend spreads. Chicago, which just suffered three levels of bond-downgrading, looks to be next.
It is also unthinkable to leave out the birth of the automotive industry. Both my father and my husband's dad began their careers working for the greats of General Motors. I was almost 17 before I knew that people drove cars made in foreign countries.
A community is made up of much more than just dollars and cents. Don't get me wrong: Detroit must make hard financial decisions. There's no way to hide from them or put them off any longer. But don't sell the soul of the community in the process.