How did Detroit get to the point where it became the largest U.S. city to file for bankruptcy and what will keep the city from further fiscal irresponsibility?
Part of the plan is to cut the pensions of general retirees by 4.5 percent, while some retirees say that they are worried that the city could fall into debt and file for bankruptcy again.
“People will long remember that when Detroit arrived at this troubling hour…”
A judge on Friday approved Detroit’s plan to get out of bankruptcy, ending the largest public filing in U.S. history.
The judge overseeing Detroit’s bankruptcy is ready to decide whether the city’s plan to regain solvency is a good one.
Most of donation will be used for the DIA’s $100 million commitment to the so-called grand bargain. The rest will go toward reinstalling the museum’s Japanese collection in a new gallery.
A deal has been reached between the city of Detroit and its public school district Tuesday — in the form of a trade.
A judge will decide next week whether Detroit’s plan is fair and feasible in the largest public bankruptcy in U.S. history.
Michael Bolton has been working on the documentary for about two years and expects the film should be completed in early 2015.
A key component of what’s known as the Grand Bargain is a deal to help protect pensioners as Detroit goes through bankruptcy. That deal depends on the Detroit Institute of Art reaching its $100,000,000 fundraising goal.