Friday, June 14 2013 10:25 PM EDT2013-06-15 02:25:13 GMT
A team led by a state-appointed emergency manager said Friday that Detroit is defaulting on about $2.5 billion in unsecured debt and is asking creditors to take about 10 cents on the dollar of what the city owes them.
A team led by a state-appointed emergency manager said Friday that Detroit is defaulting on about $2.5 billion in unsecured debt and is asking creditors to take about 10 cents on the dollar of what the city owes them.
Friday, May 24 2013 12:07 PM EDT2013-05-24 16:07:12 GMT
Officials say the Detroit Institute of Arts' collection could be sold to help satisfy creditors if the financially troubled city of Detroit seeks bankruptcy protection.
Officials say the Detroit Institute of Arts' collection could be sold to help satisfy creditors if the financially troubled city of Detroit seeks bankruptcy protection.
Thursday, March 28 2013 11:56 AM EDT2013-03-28 15:56:34 GMT
Michigan's tougher emergency manager law takes effect Thursday. However, its opponents are seeking to block it in federal court, saying the measure is unconstitutional.
Michigan's tougher emergency manager law takes effect Thursday. However, its opponents are seeking to block it in federal court, saying the measure is unconstitutional.
Tuesday, March 26 2013 11:22 PM EDT2013-03-27 03:22:01 GMT
On the day Kevyn Orr takes over the management of the city, Fox 2's Charlie LeDuff goes back 40 years for a unique look back at the time Detroit elected its first African-American mayor.
On the day Kevyn Orr takes over the management of the city, effectively removing Mayor Dave Bing and the Detroit City Council from power, Fox 2's Charlie LeDuff goes back 40 years for a unique look back at the time Detroit elected its first African-American mayor.
Monday, March 25 2013 11:14 PM EDT2013-03-26 03:14:42 GMT
As Detroit's new EFM takes the reigns, young adults with a vested interest in the city are concerned about the future. However, the governor wants them to know they can be part of the change and the solution.
As Detroit's new emergency financial manager takes the reigns, young adults with a vested interest in the city are concerned about the future. However, the governor wants them to know they can be part of the change and the solution.
Monday, March 25 2013 9:18 PM EDT2013-03-26 01:18:49 GMT
Kevyn Orr, Detroit's new financial emergency manager, met with several city leaders during his first day on the job, but not everyone is thrilled with his arrival.
Kevyn Orr, Detroit's new financial emergency manager, met with several city leaders during his first day on the job, but not everyone is thrilled with his arrival.
Monday, March 25 2013 7:23 PM EDT2013-03-25 23:23:58 GMT
Detroit's EMS and police departments are getting a much needed shot in the arm from the corporate world. There will be new ambulances in the next four to five months and 100 new patrol cars within 60 to 90 days.
Detroit's EMS and police departments are getting a much needed shot in the arm from the corporate world. There will be new ambulances in the next four to five months and 100 new patrol cars within 60 to 90 days.
Monday, March 25 2013 12:56 PM EDT2013-03-25 16:56:46 GMT
Fox 2's Maurielle Lue reports protestors are still gathering, waving flags and signs against Detroit's new E.F.M. (Emergency Financial Manager).
Fox 2's Maurielle Lue reports protestors are still gathering, waving flags and signs against Detroit's new E.F.M. (Emergency Financial Manager). Despite the snow and chilly temperatures, the protest was strong for more than half an hour.
SOUTHFIELD, Mich. (WJBK) -
Governor Rick Snyder introduced Kevyn Orr to reporters Thursday afternoon shortly before he became Detroit's new emergency financial manager.
"We are going to turn around the City of Detroit through teamwork and collaboration," said Snyder.
Mayor Dave Bing is hopeful.
"Today marks the beginning of us bringing health back to the City of Detroit," he said.
However, not everyone is as optimistic or enthusiastic about the new EFM.
"This is nothing but a takeover. This is so unfair. Snyder is not for the people," said a protester.
Joining Huel Perkins and Charlie Langton on our panel to discuss:
Rev. Charles Williams II, a preacher, activist and president of the local National Action Network.
Maxine Jones, a fellow Detroiter, homeowner and business owner, who lives in what she calls one of the most dangerous parts of the city. She doesn't care whether it's the mayor, the council or an EFM in charge. She just wants Detroit to be a safe city.
And Bertram Marks, a lawyer, preacher and the lead attorney for The Council of Baptist Pastors.
Plus, now that Detroit has an emergency financial manager, Charlie Langton took "Let It Rip" on the road to ask people in the city whether they feel their vote still means anything.
Click on the videos above to watch this edition of "Let It Rip." Plus, post your thoughts in the "Comments" section below.
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Let It Rip
