http://www.nbcnews.com/business/stuck-reverse-detroit-edges-closer-bankruptcy-1C8149698 (http://www.nbcnews.com/business/stuck-reverse-detroit-edges-closer-bankruptcy-1C8149698)
I think we all know where this is going. There will be a plea for a bailout from Washington. Detroit will receive much attention because of the demographics mentioned in the article. It is clear the U.S. Governemnt does not have the funds for any city or state bailouts. To pursue a bailout option opens a can of worms that is not sustainable.
Two excerpts from SSM's link says it all.
"Detroit Council Member JoAnn Watson, who along with two other members of the city's all-black City Council has been resisting reform measures, said she is still hopeful of a federal bailout or an injection of state money that she claims the city is owed."
"One of the city's biggest challenges is its complex set of labor agreements with a whopping 48 bargaining units that represent most of the city's workforce."
Maybe the Fed bailout will come in with the next shipment of free cell phones.
This could be a lethal bliow to any chances for any reform. A compromise needs to be made in order to get labor agreements finalized. A bailout of more money is not going to solve the problem, the money will come and the money will go and the same situation will arise, except maybe even worse. These council members need to stop taking easy ways out and do what they were elected in to do in the first place and that is to reach a agreement no a SOLID agreement with the unions.
This is due to that blockheaded Council woman or whatever screaming about bringing home the bacon.
Billy
There is no amount of money that could right the ship that is SS Detroit. It should be bulldozed.
Quote from: The Boo Man... on January 29, 2013, 05:55:40 PM
There is no amount of money that could right the ship that is SS Detroit. It should be bulldozed.
I agree, there are hundreds of acres in Detroit that should be leveled and just start over with New Politicians. Why Why Why do so many think the Fed. Gov. should just write them a check for no reason other then they spend to much money? :confused:
Quote from: The Stranger on January 30, 2013, 05:24:21 AM
I agree, there are hundreds of acres in Detroit that should be leveled and just start over with New Politicians. Why Why Why do so many think the Fed. Gov. should just write them a check for no reason other then they spend to much money? :confused:
They think that, because that's the hope of all these bankrupt blue states and municipalities. They hope the Feds will take the money from those areas that haven't wasted their money, and give it to them. It's my belief that the attempted bailout of the failing blue model areas will be the beginning of our next civil war.