Q&A: Detroit's Chapter 9 bankruptcy

Jul 18, 2013 Full story: Reno Gazette-Journal 22

Now, Detroit will chart new territory in municipal bankruptcy law. The case that began Thursday is expected to establish legal precedent in many areas.

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too much

Warren, MI

#2 Jul 19, 2013
I have been saying Detroit is a hell hole for years now but no one would listen. This bankruptcy filing proves it.

Oh wait didn't Obama bail out Detroit? No he bailed out his Union buddies.

“i hope we can change this!”

Since: Aug 08

usa

#3 Jul 19, 2013
this is what happens to ALL welfare states...
the system works until they run out of other people's money...
of course union thuggery and AMAZINGLY corrupt politicians helped...

(Obama would bail Detroit out...but there's nothing in it for him!)
lolol

Albuquerque, NM

#4 Jul 19, 2013
now the entire nations taxpayers get to pick up the tab for the pensions that the bankrupcy exempts the detroit city from paying. gubbmint unions, aren't they the bomb.
See the Light

El Paso, TX

#5 Jul 19, 2013
Didn't taxpayers bail out Detroit once before? The Democrat officials that are running the city havd run it into the groung. You fools should have listened to Mitt Romney!
Lamer

Hopkins, MN

#6 Jul 19, 2013
See the Light wrote:
Didn't taxpayers bail out Detroit once before? The Democrat officials that are running the city havd run it into the groung. You fools should have listened to Mitt Romney!
and you should read a newspapper... The repubs in control of the state have appointed a economic manager to deal with Detroits fiscal problems. He has been in charged for all of 2013 and then some. And wasnt mitt lambasted by those very same detroit companies when he tried to lie to the american people about them moving to china?
Lamer

Hopkins, MN

#7 Jul 19, 2013
PS: Kevyn Orr is the emergency financial manager who was appointed by the state.

“Come Home America!”

Since: Nov 11

Claymont, Delaware 19809

#8 Jul 19, 2013
Our Grand Cities like Detroit can make a great comeback . I'd love to see the hundreds of thousands of smaller state , city, and local governments become more able to cooperate with our United States Congress on pursuing President Barack Obama 's call for a unified Climate Action Plan for the United States. "A resilient, efficiency-driven economy re-imagines America’s cities in a way that capitalizes on four key characteristics:

Resource efficiency – Using the least amount of energy and other resources to create a good and productive quality of life for all citizens

Location efficiency – Smart development that concentrates housing, transit, jobs and amenities in a way that delivers fast, convenient, equitable and affordable connections

Landscape efficiency – Adjustment to urban terrains and land-use patterns that can productively absorb rainfall, avoid flooding, and recharge the aquifer

Distributed infrastructure – Decentralized and redundant systems, especially energy and transportation, that focus on local supply and demand" http://www.cnt.org/news/2013/06/26/climate-ch...
See the Light

El Paso, TX

#9 Jul 19, 2013
Detroit should have recovered from being bailed out last time.They reap what they sow. But never fear-Obama will force taxpayers to bail you out again. And after a while you'll fail again.
Who

Wyoming, MI

#11 Jul 19, 2013
This is what us happens when a city is run by blacks, this is what is looks like when you have a city full of takers and no producers.

Why do you think the POTUS is such a failure?

This is what liberal demoKKKrats want the WHOLE USA to look like.

Enjoy the "diversity".

“Come Home America!”

Since: Nov 11

Claymont, Delaware 19809

#12 Jul 19, 2013
Who wrote:
This is what us happens when a city is run by blacks, this is what is looks like when you have a city full of takers and no producers.
Why do you think the POTUS is such a failure?
This is what liberal demoKKKrats want the WHOLE USA to look like.
Enjoy the "diversity".
You aren't being objective if you don't blame the creditors for helping to cause a lot of Detroit's bankruptcy problems. Now the creditors are in denial of their own responsibility for causing Detroit's decline in refusing to meet Mr. Orr halfway on dealing positively to rejuvenate Detroit as a beautiful, livable city. When a city loses over a quarter of its population and the loss of city revenue needed to maintain adequate city services ,ambulance, fire, police, health and social services like mass transit and off-street urban parking , any city would be doomed to slow death. "Orr chronicled the city’s economic collapse in a detailed plan presented to creditors June 14 — a proposal that drew criticism from some who said the cuts were too deep and did not include the sale of city assets, including Belle Isle and a Detroit Institute of Arts collection. He proposed paying most of the money owed to secured creditors while pension funds, unions and unsecured bondholders would receive, in some cases, as little as 10 cents on the dollar.

Instead of paying creditors in full, Orr said he would use $1.25 billion over the next decade to buy police cars and fire trucks, replace broken street lights, tear down burned-out homes, fight blight and improve city services.

Orr said he wants to stabilize the city, woo new residents, provide essential city services, lower property taxes and transfer costly departments, including the water and sewerage, to an outside group."

From The Detroit News: http://www.detroitnews.com/article/20130718/M...

Mr. Orr has chosen the viable option in creditor sacrifices and increased city revenue for a stimulus/investment spending plan for redesigning Detroit. Living with the investment plan today will pay off handsomely in the near future as it has worked in San Francisco, Portland, Philadelphia , Baltimore , and even once-bankrupted New York City.

Since: Mar 09

The Left Coast

#13 Jul 19, 2013
Detroit is too big to fail. We must bail them out again. The first thing we need to do is give all 12,900 city workers a big raise and increase their pensions.
Who

Wyoming, MI

#14 Jul 19, 2013
frontporchreactionary wrote:
<quoted text>You aren't being objective if you don't blame the creditors for helping to cause a lot of Detroit's bankruptcy problems. Now the creditors are in denial of their own responsibility for causing Detroit's decline in refusing to meet Mr. Orr halfway on dealing positively to rejuvenate Detroit as a beautiful, livable city. When a city loses over a quarter of its population and the loss of city revenue needed to maintain adequate city services ,ambulance, fire, police, health and social services like mass transit and off-street urban parking , any city would be doomed to slow death. "Orr chronicled the city’s economic collapse in a detailed plan presented to creditors June 14 — a proposal that drew criticism from some who said the cuts were too deep and did not include the sale of city assets, including Belle Isle and a Detroit Institute of Arts collection. He proposed paying most of the money owed to secured creditors while pension funds, unions and unsecured bondholders would receive, in some cases, as little as 10 cents on the dollar.
Instead of paying creditors in full, Orr said he would use $1.25 billion over the next decade to buy police cars and fire trucks, replace broken street lights, tear down burned-out homes, fight blight and improve city services.
Orr said he wants to stabilize the city, woo new residents, provide essential city services, lower property taxes and transfer costly departments, including the water and sewerage, to an outside group."
From The Detroit News: http://www.detroitnews.com/article/20130718/M...
Mr. Orr has chosen the viable option in creditor sacrifices and increased city revenue for a stimulus/investment spending plan for redesigning Detroit. Living with the investment plan today will pay off handsomely in the near future as it has worked in San Francisco, Portland, Philadelphia , Baltimore , and even once-bankrupted New York City.
What's the point of spending million after million on things the brown people will only destroy?

You get rid of the brown people, Detroit will heal itself.

“Come Home America!”

Since: Nov 11

Claymont, Delaware 19809

#15 Jul 21, 2013
Who wrote:
<quoted text>
What's the point of spending million after million on things the brown people will only destroy?
You get rid of the brown people, Detroit will heal itself.
'Rick Perry has been advertising Texas' willingness to win the race to the bottom--as if him being Governor weren't proof enough. Seriously, he's been on the radio trying to woo jobs away from Illinois and California by telling business owners, basically, come to Texas where we don't regulate you at all. Then he went after New York, which got comedian Lewis Black riled up.....'
http://www.thedailyshow.com/watch/wed-july-17...

I really have to wonder which Big Oil mogul 's ass Governor Rick Perry crawled out of--he's leading from behind Texas down the same development road , oil and car dependency,that Detroit took a hundred years ago. After Governor Rick Perry gave Oil , AG, and Fertilizer factory owners free run of the state house and closed women health clinics, the governor might as well close the schools next because any kids who actually survive child birth won't need to go to school. They'll have to get cheap jobs to help poor parents make enough to pay for the basics of survival, food, clothing, and housing.

“Come Home America!”

Since: Nov 11

Claymont, Delaware 19809

#16 Jul 21, 2013
Governor Rick Perry ought to be learning from states like New York instead of trying to steal jobs from it.'Matt Bevi takes a look at the NYCEDC's major accomplishments before and after Seth Pinsky took over. No other city in the U.S. has an economic development agency that’s quite as powerful as New York’s has been over the last five years.— at New York, NY' Here are just a few of the accomplishments. "1991

Two city entities, the Public Development Corporation (PDC) and the Financial Services Corporation (FSC), combine to form the New York City Economic Development Corporation. Prior to merging the two groups had worked together, with the PDC overseeing the sale and lease of city-owned property and the FSC helping firms find money for city-backed projects.

1997

NYC EDC begins investing in the 100-acre East New York Industrial Business Zone, bringing money and 625 jobs to one of Brooklyn’s most disinvested neighborhoods.

2005

NYC EDC develops the Hunts Point Vision Plan, which lays out short-term goals for redeveloping the 690-acre Hunts Point Peninsula in the Bronx.

2006

The South Bronx Greenway, a component of the Hunts Point Vision Plan, is conceived as an ongoing process to 1.5 miles of waterfront green space to the city’s poorest borough, along with greening projects along 8.5 miles of Bronx Streets. The Greenway helps put Bronx activist Majora Carter and her group, Sustainable South Bronx, on the map.

2008

Mayor Bloomberg appoints Seth Pinsky, a former investment analyst and lawyer, as president of NYC EDC.

2009

Citi Field, which replaced Shea Stadium as the home of the New York Mets, opens in Queens. The adjacent neighborhood of Willets Point, hitherto known mainly for its abundance of auto repair shops and lack of sidewalks, becomes the target for a major redevelopment. The result is NYC EDC’s Willets Point Development Plan, an effort to rebuild 62 acres in the neighborhood with a hotel, retail and 2,500 housing units. The development is among the more controversial in the city due to concerns about eminent domain and displacement of the many working-class businesses in the area.

A four-years-in-the-making effort to redevelop Coney Island gets underway when NYC EDC releases an RFP for 6.5 acres of property in the amusement park, land that the city had finally acquired for $95 million in a deal arranged by NYC EDC. The first stage of the project, Luna Park, opens the following year. The second stage, a section of the park called Scream Zone, opens in 2011. Now that a revamped amusement park is up and running, the city has eyed the neighborhood at large for future projects."
http://nextcity.org/daily/entry/a-timeline-of...
Who

Wyoming, MI

#17 Jul 21, 2013
frontporchreactionary wrote:
Governor Rick Perry ought to be learning from states like New York instead of trying to steal jobs from it.'Matt Bevi takes a look at the NYCEDC's major accomplishments before and after Seth Pinsky took over. No other city in the U.S. has an economic development agency that’s quite as powerful as New York’s has been over the last five years.— at New York, NY' Here are just a few of the accomplishments. "1991
Two city entities, the Public Development Corporation (PDC) and the Financial Services Corporation (FSC), combine to form the New York City Economic Development Corporation. Prior to merging the two groups had worked together, with the PDC overseeing the sale and lease of city-owned property and the FSC helping firms find money for city-backed projects.
1997
NYC EDC begins investing in the 100-acre East New York Industrial Business Zone, bringing money and 625 jobs to one of Brooklyn’s most disinvested neighborhoods.
2005
NYC EDC develops the Hunts Point Vision Plan, which lays out short-term goals for redeveloping the 690-acre Hunts Point Peninsula in the Bronx.
2006
The South Bronx Greenway, a component of the Hunts Point Vision Plan, is conceived as an ongoing process to 1.5 miles of waterfront green space to the city’s poorest borough, along with greening projects along 8.5 miles of Bronx Streets. The Greenway helps put Bronx activist Majora Carter and her group, Sustainable South Bronx, on the map.
2008
Mayor Bloomberg appoints Seth Pinsky, a former investment analyst and lawyer, as president of NYC EDC.
2009
Citi Field, which replaced Shea Stadium as the home of the New York Mets, opens in Queens. The adjacent neighborhood of Willets Point, hitherto known mainly for its abundance of auto repair shops and lack of sidewalks, becomes the target for a major redevelopment. The result is NYC EDC’s Willets Point Development Plan, an effort to rebuild 62 acres in the neighborhood with a hotel, retail and 2,500 housing units. The development is among the more controversial in the city due to concerns about eminent domain and displacement of the many working-class businesses in the area.
A four-years-in-the-making effort to redevelop Coney Island gets underway when NYC EDC releases an RFP for 6.5 acres of property in the amusement park, land that the city had finally acquired for $95 million in a deal arranged by NYC EDC. The first stage of the project, Luna Park, opens the following year. The second stage, a section of the park called Scream Zone, opens in 2011. Now that a revamped amusement park is up and running, the city has eyed the neighborhood at large for future projects."
http://nextcity.org/daily/entry/a-timeline-of...
Yeah, and maybe he should even start telling us how much soda we can drink or force people to use the stairs in all GR's tallest buildings.

Bloomberg is an ASS!

“Come Home America!”

Since: Nov 11

Claymont, Delaware 19809

#18 Jul 21, 2013
Who wrote:
<quoted text>
Yeah, and maybe he should even start telling us how much soda we can drink or force people to use the stairs in all GR's tallest buildings.
Bloomberg is an ASS!
You'd rather be taking orders on how to live and work from your Corporate Masters then elected representatives who are your own public servants.

“Come Home America!”

Since: Nov 11

Claymont, Delaware 19809

#19 Jul 21, 2013
For you, 'Who', you rather be a slave than a free individual.
Who

Wyoming, MI

#20 Jul 21, 2013
frontporchreactionary wrote:
<quoted text> You'd rather be taking orders on how to live and work from your Corporate Masters then elected representatives who are your own public servants.
Whatever looney tunes...

"Corporate masters" and who might those be? Let me guess - "big oil man" or "rich people".

So you think the liberal demoKKKrats telling you what you can eat and drink, and where to go is 'freedom'- I'm here to you you're a fucking idiot who doesn't know his ass from his elbow.

I bet you didn't even get to choose what color Obamaphone you got, but you THINK you're free and have choices because the liberals pick out a few colors and allow you to choose one. That's how stupid you are.

So do tell me all about my "corporate masters".

“Come Home America!”

Since: Nov 11

Claymont, Delaware 19809

#21 Jul 21, 2013
Who wrote:
<quoted text>
Whatever looney tunes...
"Corporate masters" and who might those be? Let me guess - "big oil man" or "rich people".
So you think the liberal demoKKKrats telling you what you can eat and drink, and where to go is 'freedom'- I'm here to you you're a fucking idiot who doesn't know his ass from his elbow.
I bet you didn't even get to choose what color Obamaphone you got, but you THINK you're free and have choices because the liberals pick out a few colors and allow you to choose one. That's how stupid you are.
So do tell me all about my "corporate masters".
I forgot. Who, you don't have a job ;do you? Your old Corporate Master laid you off years ago when they chose to outsource American jobs to China and India to take advantage of those countries cheap labor power in exchange for re-locating plant and granting China first call on any new patents on invention technology. Who is hiding that he lost his job during the big President George W Bush swindle of the average American family.
too much

Warren, MI

#22 Jul 28, 2013
frontporchreactionary wrote:
<quoted text>You aren't being objective if you don't blame the creditors for helping to cause a lot of Detroit's bankruptcy problems. Now the creditors are in denial of their own responsibility for causing Detroit's decline in refusing to meet Mr. Orr halfway on dealing positively to rejuvenate Detroit as a beautiful, livable city. When a city loses over a quarter of its population and the loss of city revenue needed to maintain adequate city services ,ambulance, fire, police, health and social services like mass transit and off-street urban parking , any city would be doomed to slow death. "Orr chronicled the city’s economic collapse in a detailed plan presented to creditors June 14 — a proposal that drew criticism from some who said the cuts were too deep and did not include the sale of city assets, including Belle Isle and a Detroit Institute of Arts collection. He proposed paying most of the money owed to secured creditors while pension funds, unions and unsecured bondholders would receive, in some cases, as little as 10 cents on the dollar.
Instead of paying creditors in full, Orr said he would use $1.25 billion over the next decade to buy police cars and fire trucks, replace broken street lights, tear down burned-out homes, fight blight and improve city services.
Orr said he wants to stabilize the city, woo new residents, provide essential city services, lower property taxes and transfer costly departments, including the water and sewerage, to an outside group."
From The Detroit News: http://www.detroitnews.com/article/20130718/M...
Mr. Orr has chosen the viable option in creditor sacrifices and increased city revenue for a stimulus/investment spending plan for redesigning Detroit. Living with the investment plan today will pay off handsomely in the near future as it has worked in San Francisco, Portland, Philadelphia , Baltimore , and even once-bankrupted New York City.
Nice try but I don't think you get it.
Detroit has been run by blacks ever since they elected a black mayor in the 70's.
Who then told all the suburbs stay North of eight mile. We don't want you here.
This might help you to understand some of what has gone wrong with Detroit.

Half of Detroit property owners don't pay taxes
News analysis finds $246.5M in taxes went unpaid last year
From The Detroit News: http://www.detroitnews.com/article/20130221/M...

Delinquency is so pervasive that 77 blocks had only one owner who paid taxes last year, The News found. Many of those who don't pay question why they should in a city that struggles to light its streets or keep police on them.
From The Detroit News: http://www.detroitnews.com/article/20130221/M...

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