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financial crisis


Detroit City Council Talks Appeal, Mayor Expects Emergency Financial Manager

Mayor Dave Bing and Detroit City Council are planning their next move ahead of Monday’s deadline to request a hearing in hopes of convincing Gov. Rick Snyder to change his mind that Detroit needs an emergency financial manager.

WWJ Newsradio 950–03/06/2013


Half Of Detroit Property Owners Didn’t Pay 2011 Taxes

Records show that nearly half of the owners of Detroit’s 305,000 properties failed to pay their tax bills last year, exacerbating the city’s financial crisis.

WWJ Newsradio 950–02/21/2013


State Review Team Finds ‘Financial Emergency’ In Detroit

A state review team has determined that a “financial emergency” exists in Detroit, and that no plan is in place to resolved it.

WWJ Newsradio 950–02/19/2013


Detroit Board OKs Furlough Days To Cut Costs

Detroit’s Financial Advisory Board has voted for furlough days on about 600 unionized city employees as officials work to avert a possible state financial oversight.

WWJ Newsradio 950–02/12/2013


Snyder Wants 2 Percent Bump In Education Funding

Michigan Gov. Rick Snyder will propose giving public schools, universities and community colleges two percent more overall funding in the next school year.

WWJ Newsradio 950–02/07/2013


Clock Ticks Down For Decision On Detroit Finances

Detroit’s fiscal future could soon be out of its hands if a team of state officials determines that the nation’s former auto and manufacturing giant is so firmly entrenched in a financial emergency that it cannot climb out on its own.

WWJ Newsradio 950–01/11/2013


Audit: Detroit’s Deficit Grew To Nearly $327M

An audit says Detroit’s accumulated general-fund deficit is nearly $327 million.

WWJ Newsradio 950–01/03/2013


Michigan Governor Signs New Emergency Manager Law

Gov. Rick Snyder has signed a law that gives distressed communities the ability to choose an emergency manager or other remedies to fix their finances.

WWJ Newsradio 950–12/27/2012

(credit: Justin Sullivan/Getty Images)

Poor Make Do As Detroit Struggles To Stay Afloat

More than 200,000 Detroit residents living below the poverty level struggle every day to avoid their own personal fiscal cliffs. When you grow up poor in Detroit, strategies must be developed to survive.

WWJ Newsradio 950–12/26/2012


Review: Detroit Not Reaching Consent Deal Targets

A preliminary review of Detroit’s finances has determined that the city is not on target to fulfill promises to the state that allowed the city to avoid having an emergency manager appointed to oversee it, the state Treasury Department said Friday.

WWJ Newsradio 950–12/15/2012