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Detroit Financial Emergency

Here's What Orr's Pension Cuts To Workers Look Like

Crain's Detroit | Posted 08.21.2013 | Detroit

Detroit workers not already vested in a city pension would be excluded and many retirees would be moved to federal health-care programs under cost cut...

WATCH: Will Detroit Go Broke?

Posted 08.18.2013 | Detroit

What can Detroit learn from New York City, Vallejo, CA and other cities around the country that have faced bankruptcy? Municipal finance experts from ...

Detroit Is Doing Something That's Never Been Tried Before

Reuters | Posted 08.17.2013 | Detroit

June 17 (Reuters) - Detroit's default and debt restructuring plan are precedent-setting in the U.S. municipal market, Moody's Invest...

The Creditors Are Coming To Town

Reuters | Posted 08.14.2013 | Detroit

DETROIT, June 14 (Reuters) - Detroit's creditors will begin to learn on Friday morning what they can recover without driving the fin...

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...

Detroit Pays Out Millions In The Courts

Reuters | Posted 08.04.2013 | Detroit

By Steve Neavling DETROIT, June 5 (Reuters) - Once teeming with 1.9 million people during its industrial peak in the 1950s, Detroit is...

He Fought For EM Law, Now He's Fighting For DIA?

The Huffington Post | Kate Abbey-Lambertz | Posted 05.31.2013 | Detroit

With the future of Detroit's beloved art museum at risk, newly proposed legislation would theoretically protect it from creditors, were the cash-strap...

Detroit's Finances Are Even Worse Than Imagined

AP | COREY WILLIAMS | Posted 07.13.2013 | Detroit

DETROIT — The first report by Detroit's emergency manager declares that the city is broke and at risk of running completely out of money –...

Who Ya Gonna Call? Not The City

AP | COREY WILLIAMS | Posted 07.09.2013 | Detroit

DETROIT -- Detroit may be broke but it will soon have a first-rate motor pool, featuring 23 new ambulances and a fleet of 100 new police cars. Some ci...

Detroit Mayor Announces GOOD News

Posted 03.26.2013 | Detroit

Detroit Mayor Dave Bing announced new funding for EMS and the police department Monday. A group of businesses led by Roger Penske's Penske's Corpo...

Source: Snyder's Top Pick For Detroit EFM Has History With Chrysler

Reuters | Posted 05.13.2013 | Detroit

By Steve Neavling DETROIT, March 12 (Reuters) - A bankruptcy expert who collected more than $1 million in fees in Chry...

Can City Council Change Snyder's Mind?

AP | DAVID EGGERT | Posted 05.12.2013 | Detroit

LANSING, Mich. — Detroit City Council members on Tuesday made a longshot appeal of the state's declaration that the city has no adequate plan to...

How Will Detroit's Mayor Go Down In History?

AP | COREY WILLIAMS | Posted 03.08.2013 | Detroit

DETROIT -- In basketball and in business, Dave Bing never side-stepped a challenge. But the overwhelming weight of Detroit's financial problems and o...

WATCH: Dissecting Detroit's Meltdown On HuffPost Live

HuffPost Live | Posted 03.04.2013 | Detroit

On Friday, Gov. Rick Snyder (R) declared that the city of Detroit is in a state of "financial emergency." He will most likely appoint an emergency ...

LIVE UPDATES: More On Snyder's 'Financial Emergency' Announcement

Posted 03.02.2013 | Detroit

Michigan Gov. Rick Snyder (R) will make an announcement about the future of Detroit at noon on Friday. It's widely thought that he will agree with...

State Partnership Needed to Address Detroit's Fiscal Crisis but EFM Not the Answer

Gary A. Brown | Posted 04.24.2013 | Detroit
Gary A. Brown

Without a doubt we need the support and accountability that a State of Michigan partnership offers. We cannot address our legacy obligations alone. And, as Detroit goes, so goes Michigan.

Detroit 's Future Rests On Snyder's Desk

AP | COREY WILLIAMS | Posted 04.22.2013 | Detroit

DETROIT — In less than a month, Michigan Gov. Rick Snyder will decide whether the state will take over Detroit's broken finances and send in som...

Mayor: 'I Am Not Surprised' By City's Financial Emergency

Posted 02.19.2013 | Detroit

After a review team appointed by the state of Michigan found Detroit to be in a "financial emergency," Mayor Dave Bing said he was "not surprised." ...

Detroit Has 'Financial Emergency': State Review Team

AP | COREY WILLIAMS | Posted 04.21.2013 | Detroit

DETROIT — A state-appointed review team has determined Detroit is in a financial emergency, paving the way for Republican Gov. Rick Snyder to ap...