Detroit pensions

9:33 pm
Sun July 13, 2014

A Year Into Detroit Bankruptcy, October Exit Looks Realistic

Lead in text: 
Pensioners appear to have backed "grand bargain"
One year into bankruptcy, a grand coalition emerges to move Detroit forward The grand bargain to help resolve Detroit's bankruptcy has given birth to a grand coalition - with pensioners and unions backing the city's sweeping restructuring plan.
1:36 pm
Wed May 21, 2014

State Funding to settle Detroit Bankruptcy Moves to House Floor

Lead in text: 
The state Would dedicated $195-million to Detroit and create a panel to over the city's finances
LANSING, MI -- Michigan is one step closer to consummating a " grand bargain" designed to facilitate Detroit's exit from bankruptcy, minimize pension cuts for retirees and protect prized works at the Detroit Institute of Arts.
8:23 am
Fri April 25, 2014

Bolger Wants Contribution From Unions for Detroit "Grand Bargain"

Lead in text: 
In interview, House Speaker from Marshall says other parties are at table, unions need to be there too
Dome: "Where did the idea of Unions contributing to the pension bailout come from?"Speaker Bolger: "Last week I restated my longstanding request that the unions join us at the table to help resolve the bankruptcy in Detroit. I am limited somewhat by what I can talk about from private conversations.
9:40 pm
Tue April 15, 2014

Deal Reached on Detroit Pensions

Lead in text: 
Agreement is part of larger deal to get city out of bankruptcy
Sterling Heights Retired Detroit police and firefighters would get no cut in their pension and a smaller annual cost-of-living increase under a new deal their retiree association approved Tuesday. The Retired Detroit Police and Fire Fighters Associations board voted unanimously Tuesday to support the citys latest offer to settle their claim in the bankruptcy, association president Donald Taylor said.
1:21 pm
Fri April 11, 2014

Judge Approves Settlement in Detroit Bankruptcy

Lead in text: 
Judge Steven Rhodes parties for public negotiations
Judge Steven Rhodes today approved a settlement between Detroit and two global banks over a disastrous financial bet engineered by Mayor Kwame Kilpatrick's administration. Rhodes - who had rejected two previous settlements as too generous for UBS and Bank of America - ruled that the city can pay $85 million to eliminate the disastrous pension debt interest-rate transaction known as "swaps."