Posted on 07/18/2013 1:27:38 PM PDT by tcrlaf
DETROIT (AP) -- Detroit has become the largest city in U.S. history to file for bankruptcy.
State-appointed emergency manager Kevyn Orr on Thursday asked a federal judge permission to place the city into Chapter 9 bankruptcy protection.
(Excerpt) Read more at hosted.ap.org ...
Before I left Sacramento, Aerojet Rocketdyne was one of my customers. Their Rancho Cordova facility is a shadow of what it once was. The ruins of the old McDonnell Douglas plant nearby stood out in an overgrown field.
Aerospace manufacturing in CA is dying off.
I surfed to Freep.com and got the Detroit Free Press website.
Headline: Detroit files thousands of pages of documents in bankruptcy, lists 100,000 creditors
Per FoxNews this morning, Detroit’s population has dropped to the 1903 level of 700,000, down from an all-time high of 2 million during its heyday.
100,000 creditors and a population of 700,000.
The city of Detroit has gone bankrupt. Not the automakers. Or so it can be said.
Perhaps the Communist in Chief will become the receiver of Detroit, and set it up as another DC, called the District of Detroit. Then perhaps the district of Flint, then the district of California, until we are all one happy Soviet Union.
One of the captions says Apollo/United Artist Theatre (1985). Hmmm
I live in California.
It is not 1992 anymore.
Only if the unions & socialist RAT bastard demoRATs are kept out of the process, which will never happen with radical leftist Amerika haters 0dumb0, Holder & soon to be the new Labor Secretary, the incredible hate-filled, racist, anti-business Perez (who was head of the Civil Rights department under Holder).
I don't think that too many businesses or ground floor investment groups will want to re-invest in Detroit, knowing that the unions & socialists will instantly re-appear as soon as a hint of recovery would start to take place.
“Well...our POTUS Jarrett isn’t a dummy...considering Detroit is probably the first of a long list of cities going belly up...
Every democrat city would have their hand out...”
Plus she is a believer in overwhelming the system. By not sending funding to any of the cities, you will have an entire industry of government workers clamoring for major CHANGE! Meaning, it will be a wonderful time to transition into full out Marxism.
They’re already investing.
“3.Incorporate new and more viable communities within Wayne County from the former Detroit.”
Can you expound on what you mean with this? Does “incorporate” mean absorb surrounding suburbs? If so, then I am not sure that is viable. The cities that would be supportive of that are all BK (just not filed yet) too. The cities that are not broke would get major push back from their residents....
Already incorporated suburbs, if they chose, could annex the unincorporated portions of the former Detroit.
There are a lot of ways it could go.
Aha, that is the opposit of what I guessed. Thank you for the clarification. That actually makes more sense to me.
“The farming is valuable, and the shale oil is very valuable.”
CA will eventually go BK, it is a foregone conclusion. you point out these once valued industries, however the liberals are doing there damned best to destroy them. They have been causing water shortages for farmers for a few years now and are also about to tax the crap out of the oil porduced in CA.
Both will be devestating and will speed up the coming BK.
” That would be great. Create a greenline separating the city equally (demographis, income, resources, etc.). One side goes to socialists, unions, etc. The other side becomes Michigan’s Hong Kong - free open trade; very, very low regulation and taxation.
Measure progress in 1 year, 3 years, and 10 years out.”
In 3 years, the difference would be like night and day. Great idea!
“100,000 creditors and a population of 700,000.”
The borrower is slave to the lender. That means each “massa” has 7 slaves! I doubt that the Detroit residents would understand....
“Christy said some of it is going to the schools to upgrade their technology.”
I’d imagine they have to use that on damaged schools down there; it would be illegal for them to use it for uses other than intended by the donors. Not that they wouldn’t try, but he wouldn’t admit it publicly.
“The key is to get out before the tipping point.”
The mortgage situations have made that difficult for many people; even if they aren’t “underwater”, nobody wants to buy the houses. They know they are just buying a piece in a huge IOU to public employees (present & retired); and if they aren’t having children anyway, why bother? They keep their freedom & mobility instead (while the collective complexion of the country darkens).
.....”it would be illegal for them to use it for uses other than intended by the donors”......
Illegal? LOLOLOL .....[The first suit filled was for 100 million for ONE child....who heard swearing over the loud speaker and is psycologically /emotionally injured)
The Newtown-Sandy Hook Community Foundation had decided $7.7 million should go to the victims and 11.5 million to the community.... The governor disagrees.
Posted by Davis Dunavin (Editor), July 16, 2013 at 12:18 am
None of the $7.7 million has been given out due to a battle with the Sandy Hook Community Foundation over the amount the families will get, how much goes to the community, and the process being used, according to NBC News.
The Courant reported on July 11 that the families of each of the 26 victims of the Sandy Hook school shootings would receive $281,000 in donated funds under a draft proposal.
The families are saying they shouldn’t have to fight for what is rightfully theirs.
Republicans should use that as their official Greeting card...lololol
Laughing at your mistakes...I still do that too as the formula is very sensitive.....I don’t use photo bucket.
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