Detroit's cash crunch: Report highlights role of debt and legacy costs
A recent report from the Citizens Research Council of Michigan highlights a sometimes overlooked part of Detroit’s current fiscal crisis: the city’s debt and legacy costs.According to the report,...
View ArticleDetroit mayoral candidate accuses state of inflating city's debt
A Detroit mayoral candidate says a state financial review team vastly overstates the city’s debt burden—and their motives are political.Lisa Howze, a former state representative and an accountant, says...
View ArticleBattle heats up over funding, control of Detroit pension funds
The battle over control of Detroit’s two pension funds is heating up, with big consequences for city retirees and other creditors as the city creeps closer to possible bankruptcy.Detroit has two...
View ArticleOrr cancels Detroit bus tour as creditors pull out
Detroit emergency manager Kevyn Orr has cancelled a planned bus tour for the city’s Wall Street creditors.Some of those creditors are in Detroit this week to meet with Orr, and to take a look at some...
View ArticleThis week in Michigan politics: Consolidating schools, creditors' bus tour,...
This week in Michigan politics, Jack Lessenberry and Emily Fox discuss the proposal to consolidate school districts into county-wide systems, the canceled bus tour for Detroit creditors, and the new...
View ArticleDetroit City Council has no alternative to $350M loan plan to pay off city's...
DETROIT (AP) - The Detroit City Council has decided not to push an alternative to a $350 million loan designed to help the city pay off some of its massive pension debt.Council members on Friday...
View ArticleDetroit is not the only city in Michigan facing enormous budget challenges
All eyes are on Detroit this week, following Tuesday’s historic ruling on Detroit’s eligibility for bankruptcy. For those living outside the city, it's easy to separate themselves from Detroit's...
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