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Detroit goes out of buisness, declares chapter 11.

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Hugo Drax said:
Omni Consumer Products is slated to provide temporary security/policing services during the period of chapter 9 negotiation since local police will be furloughed during that time.

As of 12:01 AM Friday till 12:01 AM Monday there will be no police presence in Detroit. That will be a lawless period of time until OCP takes over on Monday.
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Get ready for Fallujah Friday folks!
 
IronWing said:
Detroit is a monument to lousy local government and failed national trade policies.
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I agree 100%. All of these one way free trade policies have helped kill Detroit and severely undermine the middle class at the same time. It's amazing how many people have been sold on it only to have it undermine their very jobs....and they don't even realize it.
 
Engineer said:
I agree 100%. All of these one way free trade policies have helped kill Detroit and severely undermine the middle class at the same time. It's amazing how many people have been sold on it only to have it undermine their very jobs....and they don't even realize it.
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I don't mean to instigate/flamebait, but by 'failed free trade policy' you mean US should have embargoed Japanese's car?
 
desura said:
I always find it amusing how Maddow has this regular segment on how evil and undemocratic the Michigan emergency city manager law is.

Well, sorry guys is all.
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That's because Maddow is an idiot. Straight up idiot.
 
The auto industry's downfall is complex. I think what really sparked it was the oil crisis in the 1970s. It all boils down to American automakers not making the cars people wanted to buy. Over the years, the industry became mired in corporate corruption and union greed.
The big three realized they could do what they wanted because they were too big to fail, and too much in politicians' pockets. Little oversight was needed because they could always count on a bailout. The unions demanded college wages for unskilled labour, because higher wages mean more dues which means fatter profits for the bosses. Quality of the product declined. Even today American cars are viewed as unreliable gas guzzlers. Doesn't matter if it's still true or not. In the end, the whole system wasn't economically sustainable.

Detroit largely suffers from the same issues. The decline began long before globalization took root. Corruption is the number one issue that will have to be dealt with. Second order of business is economic diversification. Any city that bases its entire economic prospects on a single business or industry is playing with fire.
 
We will see what happens at the end of the summer. My Grandparents have been living in Detroit since the 60's and my Great Grandmother since the 30's. They have more faith in the city than I do.

Lets just see if Orr knows what he's doing.
 
Here are some facts about Detroit (from ABC News):

1. Population in 1950s = 1.8 million. Now = barely 700K => a lot less income and sale taxes and other taxes and fees for the city to function.
2. Over 78,000 empty/abandon buildings => no property tax.
3. Crimes are highest in 40 years.
4. It has one of the longest police/fire response time in the country.

You do the math.
 
andylawcc said:
I don't mean to instigate/flamebait, but by 'failed free trade policy' you mean US should have embargoed Japanese's car?
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How many cars do the Japanese import from the US vs export to and what tariffs do they impose?

Besides, it wasn't just a Japan issue. Mexico comes to mind too (I know this first hand).
 
It is a biy shocking to see pictures going down some of the former residental blocks and seeing nothing but weeds and a cut on the gutte pavement where a driveway entrance was. They've lost almost 75% of their population, major cuts/restructering should have been done years ago but that wasn't in accordance with the political leadership philosophy. News story last night said typical high profile police response incident had a standard time of response of just a hair under an hour. God forbid if you don't need the swat team how long it would take.
 
Svnla said:
Here are some facts about Detroit (from ABC News):

1. Population in 1950s = 1.8 million. Now = barely 700K => a lot less income and sale taxes and other taxes and fees for the city to function.
2. Over 78,000 empty/abandon buildings => no property tax.
3. Crimes are highest in 40 years.
4. It has one of the longest police/fire response time in the country.

You do the math.
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5. A city council comprised of the most incompetent, corrupt and stupid people that could be elected.
 
Lawyers and other professionals looking to make money from Detroit's collapse should take note of one other crucial difference: unlike in Chapter 11, which puts a premium on transparency, professionals in Chapter 9 are not required to publicize or get court approval of fee payments.
In Chapter 11, creditors, judges and regulators from the Department of Justice pore over every detail of a professional's bill, raising objections to items they deem overpriced or unnecessary. In Chapter 9, bills can stay between a law firm and its client.
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So basically all of the wrong people will profit from this....excellent.
 
Time to privatize Detroit

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