Detroit files for Bankruptcy

[valo403]

Originally Posted by Senator Clay Davis

As to what happens now, the city will liquidate whatever assets it can to make some cash. So anything city owned is fair game pretty much.

Interesting aspect of this I learned this morning, because this is Chapter 9, which is reserved for municipalities, and not your typical corporate or personal bankruptcy there's no way that the courts can compel the city to liquidate anything. An example is the significant art holdings of the city (remember it was at one time pretty damn rich), there's no way that the courts can make the city sell those holdings off to cover debt.

[PsYcNeT]

Originally Posted by valo403

Interesting aspect of this I learned this morning, because this is Chapter 9, which is reserved for municipalities, and not your typical corporate or personal bankruptcy there's no way that the courts can compel the city to liquidate anything. An example is the significant art holdings of the city (remember it was at one time pretty damn rich), there's no way that the courts can make the city sell those holdings off to cover debt.

It really wouldn't be a bad idea however...

[Bertuzzied]

Originally Posted by valo403

With a blitzkrieg or something? You don't just "take over" other municipalities. I'm sure Detroit would have loved to have amalgamated the cities to its north and west, but it's not that simple.

Toll Booths for the parasitic tax!

[Locke]

Originally Posted by WhiteTiger

Why would Calgary want those cities?

Because they're using Calgary infrastructure without paying for it.

[bizaro86]

Originally Posted by Northendzone

perhaps calgary should amke a note of this and just take over okotoks, langdon and airdrie sooner rather than later

So your position is the detroit suburbs should pay for the downtown?

sorry meant to quote sebc

[Locke]

Originally Posted by bizaro86

So your position is the detroit suburbs should pay for the downtown?

sorry meant to quote sebc

Not directed at me, but an idea:

That depends. Do they work in downtown Detroit? If Detroit were not to exist would that suburb exist?

There is, or should be, a requirement to pay for something from which you derive value. Its basic double-entry, it cant be all take and no give or else whatever you're taking from is going to die and likely, you along with it.

See: Detroit.

[nik-]

Originally Posted by SebC

I'm sure everything would be peachy if they were just amalgamated.

Well obviously not as the job losses would still be there, but it would help.

[valo403]

Originally Posted by Locke

Not directed at me, but an idea:

That depends. Do they work in downtown Detroit? If Detroit were not to exist would that suburb exist?

There is, or should be, a requirement to pay for something from which you derive value. Its basic double-entry, it cant be all take and no give or else whatever you're taking from is going to die and likely, you along with it.

See: Detroit.

Probably not, that's part of the problem. It's not just that people moved their homes to the suburbs, the jobs moved out there too.

The problem with imposing costs onto those from the suburbs in a situation like Detroit is that it simply presents another reason not to go to Detroit. There are plenty of business parks in the suburbs. One of the reasons I support government contributions to the arena and stadium developments in Detroit is that they have created something that actually causes people to go to the city and spend money. Detroit needs to draw people in, not push them away. With the debt load they had that was becoming virtually impossible.

[Locke]

Originally Posted by valo403

Probably not, that's part of the problem. It's not just that people moved their homes to the suburbs, the jobs moved out there too.

The problem with imposing costs onto those from the suburbs in a situation like Detroit is that it simply presents another reason not to go to Detroit. There are plenty of business parks in the suburbs. One of the reasons I support government contributions to the arena and stadium developments in Detroit is that they have created something that actually causes people to go to the city and spend money. Detroit needs to draw people in, not push them away. With the debt load they had that was becoming virtually impossible.

Its a chain reaction that was set off a long time ago. Detroit's structure kept giving people incentives to leave and the impending bomb that was their accumulated debt was the signal to the rats to flee the sinking ship.

I'm not implying that people should be required to pay for something they dont use or to burden people with the costs accrued by others (looking at you Miami-Dade) but contributing for 'fair-use' shouldnt be an imposition.

[valo403]

Originally Posted by Locke

Its a chain reaction that was set off a long time ago. Detroit's structure kept giving people incentives to leave and the impending bomb that was their accumulated debt was the signal to the rats to flee the sinking ship.

I'm not implying that people should be required to pay for something they dont use or to burden people with the costs accrued by others (looking at you Miami-Dade) but contributing for 'fair-use' shouldnt be an imposition.

Well Detroit's structure didn't really give people an incentive to leave. What gave people an incentive to leave was a working class city with wealthy suburbs seeing the industry that supported much of that working class collapse, leading to poverty and decay. Not to mention the issue of white flight.

[Hack&Lube]

That was the structure...

Detroit should be abandoned.





And Delta City be built in it's place!

[Bertuzzied]

On the news yesterday it said the average response time for a major police emergency was 58 minutes. and some random guy waiting for the bus says sometimes they are 2-3 hours late.

[Locke]

Originally Posted by Bertuzzied

On the news yesterday it said the average response time for a major police emergency was 58 minutes. and some random guy waiting for the bus says sometimes they are 2-3 hours late.

Where do they have to go? Work? Hahaha! Not likely!

[troutman]

Should states and provinces be able to force metro areas to amalgamate into one municipality?

[macker]

14 Arsons per day :
http://www.reuters.com/article/2013/...96C06E20130713

http://www.youtube.com/watch?v=xNnAvTTaJjM fight fire with fire NERDS

[CaptainCrunch]

The two major questions are, is there a chance of a federal government bailout. Especially considering their mayor is a democrat. Can the United States afford to see a major city go down like this.

How big is the court case going to be here. The fastest way to cut spending in a city with very few remaining services is to cut wages, cut jobs and to cut the existing pensions. There's no way the people with pensions don't file a lawsuit over this.

The only other way to generate revenue is to massively increase taxation. But with over half of its population gone and 78,000 buildings abandoned do you double? triple? tax rates. Start charging pay as you go services, where cops ask for your credit card when they get to your house?

I haven't followed the story closely, but Detroit shrinking down to 700,000 people is shockingly grim. After the announcement yesterday how many more people leave?

[Locke]

Originally Posted by CaptainCrunch

The two major questions are, is there a chance of a federal government bailout. Especially considering their mayor is a democrat. Can the United States afford to see a major city go down like this.

How big is the court case going to be here. The fastest way to cut spending in a city with very few remaining services is to cut wages, cut jobs and to cut the existing pensions. There's no way the people with pensions don't file a lawsuit over this.

The only other way to generate revenue is to massively increase taxation. But with over half of its population gone and 78,000 buildings abandoned do you double? triple? tax rates. Start charging pay as you go services, where cops ask for your credit card when they get to your house?

I haven't followed the story closely, but Detroit shrinking down to 700,000 people is shockingly grim. After the announcement yesterday how many more people leave?

My understanding is that even that number is a very generous estimate.

[Bertuzzied]

Aren't the suburbs afraid that the people in the city will evenutally get desperate enoough, go nuts and raid the suburbs?

[Robbob]

Originally Posted by Bertuzzied

Aren't the suburbs afraid that the people in the city will evenutally get desperate enoough, go nuts and raid the suburbs?

That is where the giant dome comes in handy.

It is sad seeing some of those old building just wasting away.

[stampsx2]

Detroit needs to clean up their crime to get the taxpayers back into the city. Crime got out of control and company's took their buisness out of town.

They could start with offering a 1% business tax. At least it's something.



In 2011 Detroit was:

Violent crime: 2nd
Murder: 2nd
Robbery: 4th
Aggravated assault: 1st
Property crime: 7th
Vehicle theft: 2nd
Burglary: 7th
Rape: 15th