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Detroit files for bankruptcy
Posted: Thu Jul 18, 2013 1:39 pm
by DSUrocks07
http://www.usatoday.com/story/news/nati ... y/2552819/
The city of Detroit has filed for bankruptcy protection, becoming the largest city in U.S. history to do so.
State-appointed Emergency Manager Kevyn Orr on Thursday asked a federal judge permission to place the city into Chapter 9 bankruptcy protection.
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.
Detroit Emergency Manager Kevyn Orr, who in June released a plan to restructure the city's debt and obligations that would leave many creditors with much less than they are owed, has warned consistently that if negotiations hit an impasse, he would move quickly to seek bankruptcy protection.
So the slow train finally goes over the cliff.
Re: Detroit files for bankruptcy
Posted: Thu Jul 18, 2013 1:40 pm
by Ibanez
Thanks conks.
Did I do that right?
Re: Detroit files for bankruptcy
Posted: Thu Jul 18, 2013 2:15 pm
by DSUrocks07
Re: Detroit files for bankruptcy
Posted: Thu Jul 18, 2013 3:42 pm
by Chizzang
If a tree falls in the forest...
Re: Detroit files for bankruptcy
Posted: Thu Jul 18, 2013 3:48 pm
by Ibanez
I read this book a few months ago. It's a great read.
Re: Detroit files for bankruptcy
Posted: Thu Jul 18, 2013 5:12 pm
by D1B
Fucking conks.
Re: Detroit files for bankruptcy
Posted: Thu Jul 18, 2013 5:26 pm
by BDKJMU
D1B wrote:**** conks.
Fuc***g donks. **** that cesspool that is Detroit. And **** the unions who are responsible along with those donk leaders for running that city into the ground. Dumb ***** voters were stupid enough to give donks 100% power in that city for decades. They reap what they sow.
And your boy Barry aint going to be able to use taxpayer $$$ to pour down that sh**hole to bail them out either.
Re: Detroit files for bankruptcy
Posted: Thu Jul 18, 2013 6:55 pm
by Bronco
Re: Detroit files for bankruptcy
Posted: Thu Jul 18, 2013 7:19 pm
by kalm
BDKJMU wrote:D1B wrote:**** conks.
Fuc***g donks. **** that cesspool that is Detroit. And **** the unions who are responsible along with those donk leaders for running that city into the ground. Dumb ***** voters were stupid enough to give donks 100% power in that city for decades. They reap what they sow.
And your boy Barry aint going to be able to use taxpayer $$$ to pour down that sh**hole to bail them out either.
Yeah, I'm sure it's all their fault.
Re: Detroit files for bankruptcy
Posted: Thu Jul 18, 2013 7:21 pm
by ASUG8
Another rustbelt city bites the dust and more mass migration to the Southern states.
Re: Detroit files for bankruptcy
Posted: Thu Jul 18, 2013 7:26 pm
by kalm
Bronco wrote:
Good thing Rick Snyder and his emergency managers were able to save Detroit!
Re: Detroit files for bankruptcy
Posted: Fri Jul 19, 2013 7:04 am
by Baldy
kalm wrote:Bronco wrote:
Good thing Rick Snyder and his emergency managers were able to save Detroit!
To many decades of "progressive" control to recover.
Not to worry. Detroit is to big to fail.
Re: Detroit files for bankruptcy
Posted: Fri Jul 19, 2013 8:47 am
by ALPHAGRIZ1
Re: Detroit files for bankruptcy
Posted: Fri Jul 19, 2013 8:52 am
by ASUMountaineer
kalm wrote:BDKJMU wrote:
Fuc***g donks. **** that cesspool that is Detroit. And **** the unions who are responsible along with those donk leaders for running that city into the ground. Dumb ***** voters were stupid enough to give donks 100% power in that city for decades. They reap what they sow.
And your boy Barry aint going to be able to use taxpayer $$$ to pour down that sh**hole to bail them out either.
Yeah, I'm sure it's all their fault.
How could it be...D1B has already told us that it was 100% the fault of conks.
Re: Detroit files for bankruptcy
Posted: Fri Jul 19, 2013 8:52 am
by Ivytalk
As Herman Cain might say, Detroit has filed a "Chapter 9-9-9!"
Re: Detroit files for bankruptcy
Posted: Fri Jul 19, 2013 8:59 am
by blueballs
During the most recent presidential campaign 0bama chided Romney for suggesting that Detriot be "allowed to go into bankruptcy."
What say you now Mr. President?????????????????
Just a classic result of a liberal utopia that ran out of other peoples' money.........
Re: Detroit files for bankruptcy
Posted: Fri Jul 19, 2013 9:01 am
by kalm
Ivytalk wrote:As Herman Cain might say, Detroit has filed a "Chapter 9-9-9!"
I read that in Hermaine's voice!
Re: Detroit files for bankruptcy
Posted: Fri Jul 19, 2013 9:07 am
by LeadBolt
Napalm.
Re: Detroit files for bankruptcy
Posted: Fri Jul 19, 2013 10:04 am
by ALPHAGRIZ1
blueballs wrote:During the most recent presidential campaign 0bama chided Romney for suggesting that Detriot be "allowed to go into bankruptcy."
What say you now Mr. President?????????????????
Just a classic result of a liberal utopia that ran out of other peoples' money.........
And yet they are so stupid they will come up with excuses about why it wasn't their fault. Idiots
Sent from my DROID BIONIC using Tapatalk 2
Re: Detroit files for bankruptcy
Posted: Fri Jul 19, 2013 11:11 am
by slycat
Theres a bunch of people who relocated from Michigan down here in Texas. Detroit just carried all their eggs in one basket and are now paying the piper. Pittsburg reinvented themselves after the stell industry. Time for Detroit to be about more then cars.
Re: Detroit files for bankruptcy
Posted: Fri Jul 19, 2013 11:13 am
by slycat
blueballs wrote:During the most recent presidential campaign 0bama chided Romney for suggesting that Detriot be "allowed to go into bankruptcy."
What say you now Mr. President?????????????????
Just a classic result of a liberal utopia that ran out of other peoples' money.........
This is coming from all these pensions that are dragging the city into debt. Just wait 5-10 more years when the boomers start really collecting SS. SS has been known as a problem for decades and every leader crosses their fingers hoping it won't hit until their term is up.
Re: Detroit files for bankruptcy
Posted: Fri Jul 19, 2013 11:21 am
by Chizzang
This one can fairly easily be pinned on Unions and Liberal politicians pandering to the union vote
Ironically our congress also quite literally functions as a union
a) It's everybody else, not me attitude
b) Zero accountability while holding themselves to the lowest possible standard
c) inexplicable salary money for life
Congress: America's most dysfunctional Union
How could Detroit survive under the control of rampage workers Unions and being pandered to by Congress
that is a sure thing disaster right there
Re: Detroit files for bankruptcy
Posted: Fri Jul 19, 2013 11:24 am
by ASUMountaineer
ALPHAGRIZ1 wrote:blueballs wrote:During the most recent presidential campaign 0bama chided Romney for suggesting that Detriot be "allowed to go into bankruptcy."
What say you now Mr. President?????????????????
Just a classic result of a liberal utopia that ran out of other peoples' money.........
And yet they are so stupid they will come up with excuses about why it wasn't their fault. Idiots
Sent from my DROID BIONIC using Tapatalk 2
Paging D1Backjon in 5...4...3...
Re: Detroit files for bankruptcy
Posted: Fri Jul 19, 2013 11:36 am
by slycat
Chizzang wrote:This one can fairly easily be pinned on Unions and Liberal politicians pandering to the union vote
Ironically our congress also quite literally functions as a union
a) It's everybody else, not me attitude
b) Zero accountability while holding themselves to the lowest possible standard
c) inexplicable salary money for life
Congress: America's most dysfunctional Union
How could Detroit survive under the control of rampage workers Unions and being pandered to by Congress
that is a sure thing disaster right there
They got great contracts when times were good and then can't understand why those contracts can't be better or god forbid the same when the Detroit economy crashed. It's like at my job, if the company's profit suffers over the year, there will be less raises and promotions to hand out. There may be layoffs or cutbacks.
For the record I worked for the State of Texas for four years. I got one promotion, one raise, and zero cost of lving raises. In my grop of 16 maybe 2 people a year got a raise due to budget cutbacks. So not all government programs are bloated and giving each other money all the time.
Re: Detroit files for bankruptcy
Posted: Fri Jul 19, 2013 1:32 pm
by DSUrocks07
