Detroit Bankruptcy

Detroit has a total of 63,000 LED lights facilitated by the Detroit Public Lighting Authority. However, this does not include the public lights covering alleyways and other small areas of a city.  Approximately 10,000 public lights are used to light up the city’s darkest areas. Thousands of inoperable lights in Detroit signify the city’s mismanagement, […]

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There are a number of new developments happening around the downtown Detroit that it may be hard to identify exactly when Detroit started its turnaround.  People will probably consider the city’s municipal bankruptcy as the turning point but some observers think that it would undermine the groundwork laid before the municipality’s bankruptcy. In 2007, a […]

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Detroit is making significant recovery from bankruptcy, according to the state commission overseeing the finances of the city.  It was declared that the city meets the requirements to emerge from municipal bankruptcy.  This would be a step toward concluding state supervision. The announcement was made after the 2014 to 2015 budget of the city was […]

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Philadelphia has been advised by Pennsylvania Intergovernmental Cooperation Authority (PICA) to take necessary measures needed to combat its $5.7 billion pension deficit despite hesitation that the city will suffer the same fate as Detroit. An organization was assigned with the task of preventing the state from going bankrupt and it urged the mayor, council and […]

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The fire department of Detroit has gone through difficult times as the city is slowly emerging from its bankruptcy ordeal.  Formerly the fourth largest city in the nation, Detroit’s population has dwindled over the past years. Craig Dougherty, a veteran of the Fire Department for almost 38 years, was appointed as the deputy fire commissioner […]

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Four bond issues were signed off by the Detroit City Council in order to get cash and pay some of the city’s creditors. This is probably how the city is going to fund its bankruptcy exit plan as well. The council approved the public auction or privatization $5.5 billion of sewer and water revenue replacing […]

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Detroit Water and Sewerage Department provides services to 700,000 people and 4 million residents in the southeast of Michigan. However, it has approximately $6 billion in debt. Officials of the water system started a massive shut down campaign in March, cutting supply to 500 customers each month. About 7,500 customers have lost service in April […]

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Retirees and city workers voted for pension cuts in the restructuring plan of Detroit. This is an important step to exiting from the biggest municipal bankruptcy in the nation’s history. The city announced the result of voting that lasted for two months. Judge Steven Rhodes must still hold a trial next month to determine if […]

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Creditors submitted their final votes on Detroit’s debt restructuring plan last Friday. The total tally of votes is expected to be filed with the federal court on July 21. According to some of the parties involved in the bankruptcy proceedings, based on the updates they got during the voting period, the plan was well received […]

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The City of Detroit and Detroit Police Officers Association have made a tentative deal on salary, retention payments, health care and pensions. After nine months of negotiations, the agreement was announced by a mediation team. The details of the agreement were not revealed. According to a person familiar with the talks, the police union got […]

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