Posted on 07/21/2013 3:37:48 PM PDT by lbryce
Biggest Bankruptcy in US history.
Excerpt:Reason Foundation senior analyst Shikha Dalmia says even bankruptcy can’t save Motown.
Detroit had been living on borrowed time and borrowed money for about two decades now with accumulated debt of about 18 times its annual budget, so something had to give so the issue only was detroit needed to restructure through bnkruptcy or an emergency manager.
(Excerpt) Read more at live.wsj.com ...
How the Unions Killed Detroit. Let me count the ways. Greed, greed, mismanagement, greed, greed, giving it all away, taking it all away, greed.
Lots of things killed Detroit. Liberalism, unions, etc., but one big facor is that of unfettered majority black rule.
They own the keys to the city.
Race riots and the subsequent white flight played their part. The taxpayers left taking their tax dollars with them and leaving the deadbeat non-taxpayers to suck the life’s blood from an already damaged economy. The failure of Detroit was eminent; I’m surprised it took so long.
Nope. It’s the Democrat party. The labor unions can bargain all they want. It’s the Democrat party that is the proximate cause of Detroit’s problems. The Democrat party implemented.the ACTIONS that caused Detroit’s problems. It is the machine of implementation for every awful idea the liberals and socialists and environmentalists and homosexuals and progressives come up with. In order for our nation to survive, the Democrat party must be dismantled.
With a Democrat Mayor and Democrat controlled city council uninterrupted since 1962, it is blatantly obvious that the Republicans are the only people for Detroit’s problems. Those “Democrats” were actually Republican’s pretending to be democrats so that they could introduce all of their limited government theories and pass them into law, thus destroying the financial well being of the city.
Those Republicans are very sneaky!!!
And they can't even make a decent automobile anymore because most of the money is sucked up by union contracts. It's quite a shame but they wouldn't pay any attention to the warnings, and they've been warned and warned for decades.
Greed never really ends well.
The UAW forced the automakers out of the manufacturing business into retirement and healthcare management.
The failure to adapt for decades is as much the fault of management stupidity as much as anything to do with unions.
I just don’t understand how public employee unions making political contributions to candidates is not a conflict of interest. Let’s see, the unions contribute money to the person who is sitting across from them in contract negotiations. What could possibly go wrong? These contributions should be made illegal.
To clarify:
1. The Unions and the Democratic Party are not two entirely different entities.
2. The Unions did not kill Detroit: They have likely killed all of Michigan. The union co-habitation with the Michigan political class has ensured - through alterations to the state constitution - that the public sector union pensions of Detroit and other municipalities are to be the liability of the State of Michigan. Couple that with union and racist support for a Communist approach to attracting capital and business, the likely widespread reneging on municipal bonds, general Third World style corruption, and such, and you can see why an economic death panel should simply make the obvious ruling.
Communism and its variants never work, but the clever Leftists can always follow the time-tested templates to convince the masses that it does, and then hop out with their loot and power/connections before the house of cards comes crashing down. Old story by now, but still sad.
Dagogo, my comment was completely sarcastic and not a statement of what I believe. Your comment reeks of truth!
The UAW had nothing to do with the decline of Detroit, it was its corrupt Dem controlled govt. and the cronyism that went along with it.
The decline of the neighborhoods was a direct result of the gainfully employed auto workers who eventually fled to the suburbs leaving behind houses which were eventually bought up by the same auto workers and turned into rentals for the unemployed who couldn't afford to move...
All the Chrysler plants are still active, Mound Rd., Jefferson Assy, Lynch Rd., Sterling Stamping.......
A really interesting problem here is that a good number of people in Detroit don’t feel required to pay property taxes, and this exacerbated the financial problem. The court could compel the city to collect those taxes (including back taxes) so that the bondholders AND pension funds can be paid something. So, what will happen?
Just watched your video thru the end, don't you think the title is a little bit misleading since there was not one reference to unions?
The most important thing at this point, it seems, is to seal off federal funding so the rest of us don’t have to pay for this mess that the Dems and unions created for themselves in Detroit. Pull up the drawbridge. If they want somebody, give ‘em Obama.
Jefferson Assembly is still open and going strong.
Mound Rd. is still open.
Lynch Rd. is still open
Sterling Stamping is still open
The Centerline Mopar plant is still open.......
Who ya talking about???????
Did the management of the Big 3 American Auto Companies not see this coming? Of course they did. Could they have stopped it? Well, let’s play it out in a simulation. Management tells the UAW back in the 1970s that they are going to reduce the compensation and benefits of the auto workers and no longer recognize or negotiate with the unions. What would have happened? Here’s a hint: the Democrats controlled the Congress and the Courts and for four years, the Presidency. What would those Democrats have done to the car companies and specifically the management of those companies?
Management could never win as long as there was a Democrat party.
The PROXIMATE CAUSE (look that up) of Detroit’s problems is the Democrat party. The Democrat party must be dismantled in order for our nation to survive.
Yeah, that’s exactly what I thought.
White flight from the city allowed it to be violated by heathens....
It is that simple...track any city that s experiencing white light (Atlanta is a perfect example) and you will see the same “faces” left behind and their plantation keepers make excuses...
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