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Old 02-17-2013, 08:55 AM
 
7,237 posts, read 12,753,307 times
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Detroit can't fix crisis on its own, state-ordered financial review finds | City of Detroit | Detroit Free Press | freep.com
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Old 02-17-2013, 01:11 PM
 
Location: North of Canada, but not the Arctic
21,171 posts, read 19,774,934 times
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It amazes me how much government bureaucrats can talk about a problem before they do anything about it.
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Old 02-17-2013, 03:07 PM
 
Location: On the brink of WWIII
21,088 posts, read 29,253,358 times
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Detroit, self-destructing since 1964.
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Old 02-17-2013, 08:18 PM
 
2,210 posts, read 3,500,004 times
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Guiding Detroit through bankruptcy may be the biggest crisis any Michigan governor has faced. If Detroit were a company it would be liquidated -- there's no hope for increased revenues any time in the near future. Massive, painful cuts to services and public safety are likely despite the fact that Detroit can hardly afford them. Add to that politicians who will rile up the citizens with claims that "whitey is taking over" which could lead to civil unrest. I don't blame Snyder for moving carefully on a state takeover.
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Old 02-17-2013, 08:59 PM
 
7,237 posts, read 12,753,307 times
Reputation: 5669
Quote:
Originally Posted by Arthur Digby Sellers View Post
Guiding Detroit through bankruptcy may be the biggest crisis any Michigan governor has faced. If Detroit were a company it would be liquidated...
Chapter 9 Bankruptcy is a restructuring of one's debt, not a liquidation.


A bankruptcy judge can't uproot elected officials or sell assets without the city's consent.


Quote:
Originally Posted by Arthur Digby Sellers View Post
Massive, painful cuts to services and public safety are likely despite the fact that Detroit can hardly afford them.
Quite frankly, Detroit's FUBAR. If it cuts services more, more taxpayers citizens will flee and the city will remain morally and financially bankrupt. I'm at the point where we might as well just send the old broad through a bankruptcy, dissolve the corpse and form new, smaller municipalities. Rename downtown/midtown Gilbertown. Turn the rural areas back over to the state of Michigan for agriculture.

Quote:
In 1907, the Supreme Court decided, in Hunter v. Pittsburgh, that under the US Constitution local governments are nothing more than "convenient agencies for exercising … such powers as may be entrusted to them" by the State.
As a result, "the state may modify or withdraw all such power, may take without compensation such property, hold it for itself, or vest it with other agencies, expand or contract the territorial area, unite the whole or part of it with another municipality, repeal the charter and destroy the corporation … with or without the consent of the citizens, or even against their protest."

Last edited by 313Weather; 02-17-2013 at 09:17 PM..
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Old 02-18-2013, 04:45 AM
 
2,210 posts, read 3,500,004 times
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What I meant was that the city is so deep in debt that were it a company restructuring would not be an option.
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Old 02-20-2013, 05:43 AM
 
1,546 posts, read 2,554,181 times
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I thought Obama saved the auto industry? Detroit is supposed to be in Utopia by what we hear in the media.
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Old 02-21-2013, 11:15 AM
 
Location: Home!
9,376 posts, read 11,955,616 times
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LOL^ I thought Obama hasn't saved anything....
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Old 02-21-2013, 11:52 AM
 
Location: On the brink of WWIII
21,088 posts, read 29,253,358 times
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Quote:
Originally Posted by ClevelandMike View Post
I thought Obama saved the auto industry? Detroit is supposed to be in Utopia by what we hear in the media.
The auto industry still has a major presence in the city limits?? LOL
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