financial crisis

State Appoints Emergency Manager To Fix Lincoln Park's FinancesMichigan has officially named an emergency manager to help balance the budget in Lincoln Park after city leaders rejected a consent agreement.
State Rejects Draft Of Wayne County Debt PlanWayne County could face the prospect of a state-appointed emergency manager.
Pontiac School District OKs Consent Agreement, Avoids EMThe Pontiac School District is facing a roughly a $38 million deficit.
Creditors File Objections To Detroit BankruptcyThe city's biggest employee union, retirees and even a few dozen residents filed objections Monday to Detroit's request for bankruptcy protection.
Governor: Pontiac Schools In Financial EmergencyThe district’s general fund deficit for the 2012 fiscal year was $37.7 million, having quadrupled since 2009.
DIA Promises Fight To Protect ArtThe museum says they'll take legal action if needed to block any potential sale of works from its collection as part of Detroit's municipal bankruptcy filing.
Judge Appoints Mediator For Detroit BankruptcyA mediator has been appointed to help resolve issues related to Detroit's bankruptcy filing.
Records Detail Fees For Detroit Turnaround EffortThe tab includes billing $275 an hour for a 22-year-old financial analyst who graduated from college last year.
3 Governments In Mich. Pull Planned Bond SalesThe decisions come amid concern that Detroit's bankruptcy will make it more difficult for communities to borrow money.
Detroit Bankruptcy Another Setback For UnionsIf the city's gambit succeeds, it could jeopardize an important bargaining tool for unions, which often have deferred higher wages in favor of more generous pensions and health benefits.
Judge Holds First Hearing In Detroit BankruptcyA judge is expected to make a key decision, Wednesday afternoon. in the Detroit bankruptcy case.
Feds Showing Little Enthusiasm For Detroit BailoutThere seems little appetite from either Democrats or Republicans in Washington for a federal rescue of the birthplace of the automobile industry.