Some cities may need to be pushed into bankruptcy, while others may just need a healthy dose of private-sector medicine, said TransPro Consulting CEO Mark Aesch.» Read More
July 18- The city of Detroit is in final preparations to file for federal bankruptcy as early as Friday morning, the Detroit Free Press reported on Thursday, citing several unnamed sources.
DETROIT, July 10- With the threat of a city bankruptcy looming, Detroit city workers and retirees are pushing back against the state-appointed emergency manager, filing lawsuits to limit his options and refusing to accept demands to keep details of their discussions secret.
DETROIT, July 3- One in 10 homes in Detroit's middle class Grandmont Rosedale neighborhood has been abandoned, a low number for a city where about a fifth of properties are empty, but it still troubles retiree residents Clarenda Webb and Beverly Frederick.
June 27- Detroit's emergency manager issued a flurry of announcements on Thursday addressing union contracts, power distribution and an errant council president as he steps up the pace of efforts to tackle the city's massive $18.5 billion debt problem.
June 26- Ohio's Republican governor, John Kasich, is no fan of President Barack Obama's health reform law.
DETROIT, June 21- A Detroit official has dismissed as "lots of wild speculation" a story that Emergency Manager Kevyn Orr is considering the sale of the city's little-known collection of classic cars.
In Michigan, more than 3,500 lottery winners are also on public assistance, drawing attention to waste in a state still reeling from the nation's economic downturn.
Standard & Poor's on Friday showed its support for Michigan's takeover of Detroit by upgrading the city's credit rating to "stable" from "negative."
Bankruptcy lawyer Kevyn Orr was named Detroit's emergency financial manager.
Kevyn Orr, the attorney who managed Chrysler's 2009 bankruptcy, is reportedly Michigan Gov. Rick Snyder's top pick to be Detroit's financial emergency manager.
At the Detroit Auto Show earlier this month, luxury was in the air. Pricey new Bentleys and Maseratis glittered - including a Maserati 2014 Quattroporte with a $132,000 price tag; U.S. Cabinet Secretaries and dignitaries rubbed shoulders; and many of the well-heeled attendees ponied up for a $300-a-ticket black-tie charity ball.
From outside Michigan Republican circles, it appeared that the Republican drive to weaken unions came out of the blue - proposed, passed and signed in a mere six days.
NBC's Ron Mott reports Gov. Rick Synder has signed two bills into law that many see as a major setback for big labor.
But times are tough for unions in the Rust Belt, even in a longtime bastion like Michigan.
In exchange for operating as the state's so-called insurer of last resort _ meaning it must provide insurance coverage regardless of a customer's health status _ Blue Cross has been exempt from paying several local and state taxes.
Transportation Secretary Ray LaHood says he's ready to start funding a light rail passenger line and fast bus lines in the Detroit area if state and regional officials can finally work together on ending the metro area's status as the nation's largest without mass transit.
Transportation Secretary Ray LaHood is expected to discuss regional transit and a proposed passenger rail system in Detroit during a meeting including area officials. Rick Snyder says the governor plans to meet with LaHood, Detroit Mayor Bing and others on Monday afternoon.
DETROIT-- Members of the Detroit City Council are expected to receive an update on efforts to balance the city's budget and fix its fiscal troubles. The council's Budget, Finance and Audit Standing Committee has scheduled a discussion Wednesday afternoon at City Hall on the monthly report of the Financial Stability Agreement with the state.
DETROIT-- General Motors plans to hire up to 1,500 workers to staff a new computer technology center outside Detroit. Last month the company announced it would hire 500 people for a center in Austin, Texas. But spokeswoman Julie Huston-Rough said most carmakers strike a balance between doing computer work in the company and hiring outside firms.
Retail gasoline prices in the U.S. Midwest were as much as 50 cents higher than in the rest of the country this week, and a number of contributing factors are to blame.