Marcus Hudson: Brace yourself for bankruptcy, Detroiters

Jun 30, 2013 Read more: Detroit Free Press

Kevyn Orr's plan for Detroit was as expected: Bondholders -- averaging secured and unsecured -- likely will receive roughly 90 cents on the dollar, workers are being hammered, and Detroit's best asset -- the Detroit Water & Sewerage Department -- is essentially up for hock.

Read more
Pete

Livonia, MI

#1 Jun 30, 2013
This analysis sounds accurate to me. Orr planned on waltzing in here and using most of the city assets and income to project a rosy future, leaving those who supported the city in the lurch at 10 cents on the dollar less legal costs. Let a judge decide who gets what. As long as Obama is not the judge, equity might just prevail.

Explain to me how Gary Brown with his background could be worth anything like $225,000 per year. Orr is proving to be a very profligate character when it comes to spending city funds.

Tell me when this thread is updated:

Subscribe Now Add to my Tracker

Add your comments below

Characters left: 4000

Please note by submitting this form you acknowledge that you have read the Terms of Service and the comment you are posting is in compliance with such terms. Be polite. Inappropriate posts may be removed by the moderator. Send us your feedback.

River Rouge Discussions

Title Updated Last By Comments
News Livonia traffic stop results in burglary arrest 2 hr Steve 1
News The 25 Most Dangerous Cities in the U.S. Are Mo... (Nov '10) 4 hr TOASTER 19,740
News Authorities search for Detroit man missing sinc... 7 hr Ni Brian Adam 2
Fear The Walking Dead in The War on Culture 10 hr Culture Auditor 1
Alabama DL Taylor charged with domestic violenc... Tue ray 1
News Feds done managing Detroit public housing Tue reality is a crutch 1
News Judge who was shot plans march against violence Tue Free Kwame 3
More from around the web

River Rouge People Search

Addresses and phone numbers for FREE

Personal Finance

Mortgages [ See current mortgage rates ]