The city of Detroit and its retirees were able to reach an agreement over health care benefits Friday …
“Our focus has been to help Detroit regain a strong economic footing,” said Kevyn Orr.
“It’s important to note that the DIA is not in bankruptcy, in fact it is functioning extraordinarily well.”
The W.K. Kellogg Foundation is giving $40 million to prevent the sale of Detroit art and help city retirees.
“This is a settlement. This is not a bailout, and I want to be very, very clear about that,” the governor said.
Orr had promised a plan by January, but negotiations between Detroit and creditors have changed the timetable.
“People would be most understanding if we’re talking about protecting pensioners vs. bailing out a city. And I think that’s what our conversation is mostly going to be about.”
Reaching an agreement is considered a key step as the city comes up with a sweeping plan to exit bankruptcy.
Vice President Joe Biden says the U.S. auto industry’s resurgence since the 2009 federal bailout provides a strong basis for a Motor City recovery.
A petition has been filed in the Court of Appeals against Judge Rhodes’ eligibility ruling.