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Detroit May File For Bankruptcy Overnight
07-18-2013, 11:11 PM #1
Shadow Mrs. Buckwheat
Posts:12,782 Threads:1,182 Joined:Feb 2011
The City of Detroit is in final preparations to file for federal bankruptcy as early as Friday morning, several sources told the Free Press today.

The filing would begin a 30- to 90-day period that will determine whether the city is eligible for Chapter 9 protection and define how many claimants might compete for the limited settlement resources that Detroit has to offer. The bankruptcy petition would seek protection from creditors and unions who are renegotiating $18.5 billion in debt and other liabilities.

http://www.zerohedge.com/news/2013-07-18...bankruptcy

Bad news Friday, nothing to see here, move along coffeetime.gif
07-18-2013, 11:26 PM #2
Shadow Mrs. Buckwheat
Posts:12,782 Threads:1,182 Joined:Feb 2011
City of Detroit files for Chapter 9 bankruptcy

http://www.usatoday.com/story/news/natio...y/2552819/

07-18-2013, 11:27 PM #3
Octo Mother Superior
Posts:42,609 Threads:1,469 Joined:Feb 2011
I thought they already did that. Or am I having a massive déjà vu?

blink.gif
07-18-2013, 11:35 PM #4
j browsing Member
Posts:5,158 Threads:1,098 Joined:Jul 2012
this has been going on for years..the council keeps fighting with the state and has sued the state all a bunch of bs..they ARE bankrupt and don't want to file they want the other taxpayers in mi to bail them out. they will have to take a cut in city pensions and that is a large issue with them..other towns in mi have gone thru hard times but somehow the morons in the D think they should have some golden saviourgaah.gif

"when life gives you lemons..throw them at someone"...Grumpy Cat good.png
07-18-2013, 11:36 PM #5
j browsing Member
Posts:5,158 Threads:1,098 Joined:Jul 2012
opps guess they didn't file another lawsuit..so it's belly up for them glad I moved out of that area

"when life gives you lemons..throw them at someone"...Grumpy Cat good.png
07-18-2013, 11:40 PM #6
j browsing Member
Posts:5,158 Threads:1,098 Joined:Jul 2012
they did get offered a deal so many cents on the dollar but the council turned it down

"when life gives you lemons..throw them at someone"...Grumpy Cat good.png
07-19-2013, 12:20 AM #7
j browsing Member
Posts:5,158 Threads:1,098 Joined:Jul 2012
http://www.detroitnews.com/article/20130...|FRONTPAGE right from the D

"when life gives you lemons..throw them at someone"...Grumpy Cat good.png
07-19-2013, 04:38 AM #8
Shadow Mrs. Buckwheat
Posts:12,782 Threads:1,182 Joined:Feb 2011
BO has been asked to help Detroit, but how long until he runs out of other people's money?
07-19-2013, 05:05 AM #9
Tacolover II Member
Posts:427 Threads:59 Joined:Feb 2011
Other Peoples Money with Danny Devito and Arnie chuckle.gif

I have driven across the bridge from Ontario to Detroit Michigan many times. I gas up on the Canadian side being more expensive not having to stop in Detroit. I'm sure there are nicer areas of Detroit than I have seen however my rule of thumb is not to shut the motor off until I get to Ohio...Even then it is brief/gas stop only, same rules apply once I get to some Southern areas. The movie Deliverance comes to mind....kirk_and_spock_love.gif
07-21-2013, 06:51 AM #10
Below Average Genius Member
Posts:1,789 Threads:137 Joined:Apr 2013
The city owns the actual Howdy Doodie puppet. It's part of an art museum's inventory.

They say it won't be sold off. (Me thinks they will be in for a shock regarding that opinion.) Meanwhile Howdy is not on display, but stored in a warehouse!

That is typical "government think." They won't sell it, but no one can see it!

Pray for me. hug.gif



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