Who is next!


Governor Rick Snyder Authorizes Detroit Bankruptcy Filing

Gotta keep the gravy train rollin'...

Lawsuits are flying faster than a shyster circus on crystal methedrine. Unions of course simply cannot see why the city should NOT pay off on pensions the same thieving trash union scumbags have wasted over the years. (Ask the UAW about their Black Lake luxury "conference center," where only union VIPs ever get to play golf.)

Neither Detroit paper expects this to be quickly resolved. The 6th Circuit will name a judge to hear this case, hopefully (but not guaranteed to be) from OUTSIDE Day-twah so the illusion of impartiality is maintained.

QuoteBusiness leaders said Thursday Detroit's long-awaited bankruptcy filing was necessary to get the city on stronger financial footing, and Wall Street analysts don't think it will have major implications for the $3.7 trillion municipal bond market.

"We look at this as going into surgery," Detroit Regional Chamber President and CEO Sandy K. Baruah said in a telephone interview. "No one looks forward to it, no one says it's going to be painless, but at the end of the day, you know you have to do it."

Executives at major firms based in Detroit, including General Motors Co. and DTE Energy, said the filing would have no impact on their day-to-day operations.

Peter Hayes, who heads BlackRock's Municipal Bonds Group, which oversees $114 billion in municipal bond assets, said the timing was a surprise. But he downplayed the impact on the broader financial market.

"The negotiations from here are likely to be long and complex, offering no resolution or clarity perhaps for years," Hayes said. "Ultimately, it's important for market participants to understand that Detroit is the exception and not the rule. This is first and foremost a Michigan issue, not a systemic municipal market issue."

http://www.detroitnews.com/article/20130718/AUTO01/307180117/Business-leaders-expect-escape-major-impact-from-Detroit-bankruptcy?odyssey=tab|topnews|text|FRONTPAGE

Awesome!  I think if every city just declared bankruptcy and shred the unions, we would be on a comeback.  Maybe that's the solution!!  Step one is breaking free of the union stranglehold.

Quote from: taxed on July 19, 2013, 12:21:05 AM
Awesome!  I think if every city just declared bankruptcy and shred the unions, we would be on a comeback.  Maybe that's the solution!!  Step one is breaking free of the union stranglehold.

Yeah right.

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I appolgize as I started another thread on this topic before I saw this one. It has a lttle bit of a different angle as to how the rank and file might respond and how the unions will go nuts. Administrators, it certainly would not offend me to combine the two.