Posted on 09/01/2013 4:18:05 AM PDT by Kaslin
MI ping.
IBTIBTFADP
(In Before The “I’d Buy That For A Dollar” Picture)
“The workforce is there; the work just needs to be attracted”
doubtful
They would probably get much less than expected because as is said that many valuable works don’t go up for sale at one time, so there just wouldn’t be the money available to pay normal market prices for all of the collection.
It would be a fire sale which is appropriate; Detroit is burning down around the city government’s ears while they fight over the ashes.
Sad to say, but the next time a minority group in this country proves itself capable of self-government will be the first time. Detroit will continue to rot away and be a good background set for apocalypse movies until the residents decide to make themselves and their city successful. In the meantime it will just be a place for the good-intentioned or conniving to exploit some government to throw more money into.
More work for bureaucrats who have failed to do that for the last 70 years or so. “Hey, bring jobs to Detroit and we will give you a tax break.”
That’ll work. /sarc
Detroit they always said, has a lot of potential. Selling off the works at the DIA will not directly solve the problem but it is a start and you are correct. No city wishes to relinquish her treasury of arts but Detroit does not have a choice. In order to facilitate such a program, an OUTSIDE contractor must be brought in to sell off the goods BUT the funds must be secured NOT BY city officials rather, held in a special redevelopment fund for the city.
The bottom line however must be significantly reducing the crime problems by pumping tons into the Police force so they can enforce and clean up the streets. Once the streets are safe, business will come in and the city will truly experience some kind of Renaissance. Until then, nobody wants to go or work there...
I would sell some of it but you’ve got to have an eye on the future. One suggestion I heard from Roger Penske recently was the possibility of privatizing the museum itself, selling some of the art and putting the rest into the federal system or even renting the art out to other museums. Penske said that selling the art is a little like selling the wheels off your car.
As far as the creditors are concerned, they are as guilty as the city council and unions. They kept loaning money with every intent of the feds stepping in and giving them a taxpayer funded bailout. I’m not completely unsympathetic. I would use an old school solution of turning over vacant properties to the creditors (tax free) and they will find a way of making them profitable. Oil and gas leases alone will amount to a sizable chunk of change. I would also go after the ill gotten gains of criminal city council members.
There is no hope for Detroit.
“The bottom line however must be significantly reducing the crime problems by pumping tons into the Police force so they can enforce and clean up the streets. Once the streets are safe, business will come in and the city will truly experience some kind of Renaissance. Until then, nobody wants to go or work there... “
Unless there are fundamental changes made any money received by selling off assets will be sucked up in very short order by the current corrupt city politicians and unions. So, I thinking why bother?
BTW I see from the local news this morning that Kevyn Orr has fired one of two pension fund managers.
The old saying about land is true, “They aren’t making any more of it.” It has value. It could be sold off not to people/companies looking to build but to create new cities. This would free it from the corruption of Detroit’s government and the hindrance of its taxes/regulation.
This is painfully naive. The land has no value precisely because of the people who live there and those who govern it.
Going into the not too distant future there will not be a need for so much land due to the worldwide drop in fertility rates.
There is plenty of land to be had in better governed jurisdictions.
I just read Detroit is about to demolish 4,000 structures.
That only leaves about 66,000 empty buildings and homes.
That’s the point. The auction is held OUTSIDE of city officials control. They forfeited their right to a say on any matter a long time ago. No, it must be independent of the Detroit city council.
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