Detroit Bankruptcy chronicle of an announced death or | Financial percent of change - latest news in Finance, Banking, Economy, Real Estate and IT
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READ HERE Salad with cabbage
Detroit percent of change Bankruptcy sometime automotive capital of the world and one of the most prosperous cities in the world, is a chronicle of an announced death since the 90s of last century, when the industrial crisis percent of change and added depopulation and a corrupt administration, writes in Saturday EFE a review.
Thursday took what everyone considered by many inevitably Detroit percent of change request placement under bankruptcy protection for a debt of 18.5 billion dollars. If the bankruptcy court will be authorized, it will produce the greatest suspension of payments in American history.
City authorities hope will pave the way bankruptcy recovery of the city. Bankruptcy may be the opportunity 'to end the 60 years of decadence', said Friday the governor of Michigan, Rick Snyder, who warned, however, that it is possible that creditors may not recover any money. 'Since 2000, the city lost 28% of the population spend 38% of budget percent of change to pay past obligations such as pensions, "said turn the emergency manager of the city, Kevyn Orr.
Snyder and Orr appeared before the media on Friday to explain the request for placement under bankruptcy protection, Orr recommended and approved Thursday percent of change by Snyder. Snyder himself declared a state of emergency in March financial Detroit and designates the Orr as administrator.
Meanwhile, percent of change a judge in Michigan Detroit on Friday urged authorities to withdraw the request percent of change for bankruptcy on the grounds percent of change that the measure would reduce retirement benefits are protected by law and would violate the state constitution. But after the decision of Judge Rosemarie Aquilina, Michigan Attorney General Bill Schuette, has appealed and asked that the process be done urgently percent of change to obtain authorization as soon as bankruptcy.
Detroit, which had a population of over 1.8 million, now has just over 700,000 inhabitants and an unemployment rate of 16%, 8.4 percentage points more than the national average (7.6 %). In addition, 40% of public lighting does not work, only a third of municipal ambulances respond to emergency calls and 70,000 homes are abandoned. Entire neighborhoods are deserted, while in others, people living in uncertainty, given that the police have the means to respond percent of change to calls for help or requests adequate protection. "We tried to overcome this situation in the past four years. But it was very, very hard, 'said Mayor Dave Bing.
Meanwhile, buses used for public transport to reach even an hour late at stations and firefighters try to avoid as much as possible hydraulic ladders because there is money to certify their security. Green areas are overgrown with weeds and are financed, like museums, the peripheral area residents money as rich as a ring surrounding the indigent Detroit. Criminal cases have dramatically increased in the city, so that small business have emerged bounty hunters, the few that seem to flourish in a city full of shops with broken windows. percent of change Less prosperous city of Detroit is limited to imposing headquarters of General Motors and Greektown casinos Greek neighborhood.
After declaring bankruptcy, starting a period of 30 to 90 days after which a federal judge will determine whether the city can to shield public bankruptcy, Chapter 9, Section 11 statutory provision that applies only to municipalities. percent of change The aim is to enable them to restructure their debts, or to establish a priority order for the payment of creditors, some of whom will recover some of the money, percent of change while others - nothing.
Detroit was the victim of a vicious circle of agony caused progressive manufacturing industry, which led to an exodus of population, which resulted in lower revenues to the municipal percent of change added sensational cases of corruption. Founded in 1701 by the French explorer Antoine Laumet Mothe, Sieur Cadillac, Detroit has grown constantly, especially after the region have established headquarters 'Big Three' automobile industry, General Motors, Ford and Chrysler. In the 60's of last century occurred 'Motown', percent of change f
Subscribe to: Newsletter | Articles | Reviews | News by email
Information in English
READ HERE Salad with cabbage
Detroit percent of change Bankruptcy sometime automotive capital of the world and one of the most prosperous cities in the world, is a chronicle of an announced death since the 90s of last century, when the industrial crisis percent of change and added depopulation and a corrupt administration, writes in Saturday EFE a review.
Thursday took what everyone considered by many inevitably Detroit percent of change request placement under bankruptcy protection for a debt of 18.5 billion dollars. If the bankruptcy court will be authorized, it will produce the greatest suspension of payments in American history.
City authorities hope will pave the way bankruptcy recovery of the city. Bankruptcy may be the opportunity 'to end the 60 years of decadence', said Friday the governor of Michigan, Rick Snyder, who warned, however, that it is possible that creditors may not recover any money. 'Since 2000, the city lost 28% of the population spend 38% of budget percent of change to pay past obligations such as pensions, "said turn the emergency manager of the city, Kevyn Orr.
Snyder and Orr appeared before the media on Friday to explain the request for placement under bankruptcy protection, Orr recommended and approved Thursday percent of change by Snyder. Snyder himself declared a state of emergency in March financial Detroit and designates the Orr as administrator.
Meanwhile, percent of change a judge in Michigan Detroit on Friday urged authorities to withdraw the request percent of change for bankruptcy on the grounds percent of change that the measure would reduce retirement benefits are protected by law and would violate the state constitution. But after the decision of Judge Rosemarie Aquilina, Michigan Attorney General Bill Schuette, has appealed and asked that the process be done urgently percent of change to obtain authorization as soon as bankruptcy.
Detroit, which had a population of over 1.8 million, now has just over 700,000 inhabitants and an unemployment rate of 16%, 8.4 percentage points more than the national average (7.6 %). In addition, 40% of public lighting does not work, only a third of municipal ambulances respond to emergency calls and 70,000 homes are abandoned. Entire neighborhoods are deserted, while in others, people living in uncertainty, given that the police have the means to respond percent of change to calls for help or requests adequate protection. "We tried to overcome this situation in the past four years. But it was very, very hard, 'said Mayor Dave Bing.
Meanwhile, buses used for public transport to reach even an hour late at stations and firefighters try to avoid as much as possible hydraulic ladders because there is money to certify their security. Green areas are overgrown with weeds and are financed, like museums, the peripheral area residents money as rich as a ring surrounding the indigent Detroit. Criminal cases have dramatically increased in the city, so that small business have emerged bounty hunters, the few that seem to flourish in a city full of shops with broken windows. percent of change Less prosperous city of Detroit is limited to imposing headquarters of General Motors and Greektown casinos Greek neighborhood.
After declaring bankruptcy, starting a period of 30 to 90 days after which a federal judge will determine whether the city can to shield public bankruptcy, Chapter 9, Section 11 statutory provision that applies only to municipalities. percent of change The aim is to enable them to restructure their debts, or to establish a priority order for the payment of creditors, some of whom will recover some of the money, percent of change while others - nothing.
Detroit was the victim of a vicious circle of agony caused progressive manufacturing industry, which led to an exodus of population, which resulted in lower revenues to the municipal percent of change added sensational cases of corruption. Founded in 1701 by the French explorer Antoine Laumet Mothe, Sieur Cadillac, Detroit has grown constantly, especially after the region have established headquarters 'Big Three' automobile industry, General Motors, Ford and Chrysler. In the 60's of last century occurred 'Motown', percent of change f
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