Detroit bankruptcy

7:17 am
Fri July 18, 2014

Detroit Emergency Manager Says Services are Improving, but More Progress is Needed

Kevyn Orr says change still may not be felt in city's neighborhoods
City services are starting to improve one year after Detroit filed the nation's largest municipal bankruptcy. But residents and city officials agree significant work remains to reverse decades of deterioration. Emergency Manager Kevyn Orr points to progress that includes a drop in violent crime; an infusion of new fire trucks, ambulances and police cruisers; and more efficient private garbage collection.
7:16 am
Wed July 16, 2014

Bankruptcy Judge Criticizes Detroit Water Shutoffs

Judge Steven Rhodes says it may not be in his authority to address water shut offs.
Detroit's program to cut off water to residents who have not paid their bills has given the city a bad reputation in the eyes of the world and U.S. Bankruptcy Judge Steven Rhodes is using his courtroom to demand that the city better address the problem.
9:33 pm
Sun July 13, 2014

A Year Into Detroit Bankruptcy, October Exit Looks Realistic

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.
6:21 am
Thu July 10, 2014

Detroit Institute of Arts Collection Valued Between $1.1-Billion and $4.6-Billion

Wide range is reflection of uncertainty of art market
A New York art investment firm brought in to appraise the full collection at the Detroit Institute of Arts puts its total value between $1.1 billion and $4.6 billion. Artvest Partners principal Michael Plummer was hired by the DIA and the city to prepare an expert report on the museums value in response to claims by some creditors that an earlier Christies appraisal grossly undervalued the collection.
7:11 am
Wed July 9, 2014

Detroit Reaches Deal With Police Union With Bankruptcy Hearing Scheduled

Trial over city's bankruptcy filing is scheduled for next month
Detroit The city reached an agreement late Tuesday with a key police union that could speed the citys exit from bankruptcy and shorten next months trial over Detroits debt-cutting plan. Though negotiations toward a five-year deal continue, the city and Detroit Police Officers Association reached agreement on wages, health care, retention payments and pensions.