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.
DETROIT (WJBK) -
State Treasurer Andy Dillon met privately with some 20 Detroit leaders on Friday to talk about the potential appointment of an emergency financial manager.
The official line was that the meeting was to help community leaders understand how the governor will approach the possible appointment, but there are some who left feeling as if not much had actually been said.
"Right now the governor's in a position where he needs to build some trust with the community," said Rev. Bertram Marks.
That may be why Governor Snyder and Dillon have been meeting with community leaders to get them on board with appointing an emergency financial manager.
Dillon hosted the latest meeting on Friday afternoon. Marks, the attorney for the Council of Baptist Pastors, was invited and sent a representative to the meeting, which he said didn't deliver what he and so many others are looking for.
"The general consensus was there was not a tremendous amount of information," Marks said.
Especially when it comes to who the governor plans to name Detroit's emergency financial manager, a decision the state insists has not been made, but insiders have said the governor knows exactly who he is going to appoint.
"Building that trust relationship absolutely requires information sharing," said Marks.
Rev. Charles Williams of the National Action Network was also invited to the meeting, but he said no thanks.
"Democracy is not for sale. It's not for sale in Detroit. It's not for sale in Pontiac [or] Flint. It's worked for hundreds of years, and I don't understand why it doesn't work now," he said.
At the end of the day, Marks said the question of whether an EFM is right for Detroit boils down to one thing and that is improving the quality of life in Detroit.
"The governor has made this decision, and therefore the governor owns this decision," said Marks. "The only way that we can measure whether this was a good or bad decision is to look at the results."
Sources have said that state officials also talked about the possibility that a number of jobs could be created under an emergency financial manager, and community leaders could have an opportunity to help fill those jobs, which has led critics to say the state is dangling carrots to get Detroiters on board.
Monday, June 17 2013 11:31 PM EDT2013-06-18 03:31:06 GMT
Detroit Emergency Manager Kevyn Orr is working on improving city services, including the streetlights. More than 40 percent of them do not work, but the Detroit Public Lighting Authority is now beginning its work.
As Kevyn Orr tries to solve Detroit's financial crisis, he is also working on improving city services, including the streetlights. More than 40 percent of them do not work, but the Detroit Public Lighting Authority is now beginning its work.
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.
Tuesday, June 18 2013 11:38 PM EDT2013-06-19 03:38:44 GMT
After initially defying federal regulators, Chrysler abruptly agreed Tuesday to recall some older-model Jeeps with fuel tanks that could rupture and cause fires in rear-end collisions.
After initially defying federal regulators, Chrysler abruptly agreed Tuesday to recall some older-model Jeeps with fuel tanks that could rupture and cause fires in rear-end collisions.
Tuesday, June 18 2013 11:29 PM EDT2013-06-19 03:29:11 GMT
An angry pastor is trying to keep his cool. He is mad at whoever tore apart his air conditioning unit to steal the copper, but he also says the entire community shares the blame.
An angry pastor is trying to keep his cool. He is mad at whoever tore apart his air conditioning unit to steal the copper, but he also says the entire community shares the blame.
Tuesday, June 18 2013 9:46 PM EDT2013-06-19 01:46:58 GMT
Nearly a hundred years ago, two girls from Detroit put a message in a bottle and threw it into the waters of the St. Clair River. Now that message is back on dry land after being found by a diver in 30 feet of water.
Nearly a hundred years ago, two girls from Detroit put a message in a bottle and threw it into the waters of the St. Clair River. Now that message is back on dry land after being found by a diver in 30 feet of water.
Tuesday, June 18 2013 7:26 PM EDT2013-06-18 23:26:33 GMT
The latest dig in the search for former Teamsters' boss Jimmy Hoffa will resume on Wednesday in an Oakland Township field. So far, crews have found two concrete slabs and animal bones.
The latest dig in the search for former Teamsters' boss Jimmy Hoffa will resume on Wednesday in an Oakland Township field. So far, crews have found two concrete slabs and animal bones.
Tuesday, June 18 2013 4:54 PM EDT2013-06-18 20:54:19 GMT
Who will open for Bon Jovi at Ford Field on July 18? Your vote will decide. 20 bands left in the Fox Rocks contest. Voting period: Now through July 10. Time to 'Fox Rocks' the vote.
Who will open for Bon Jovi at Ford Field on July 18? Your vote will decide. 20 bands left in the Fox Rocks contest. Voting period: Now through July 10. Time to 'Fox Rocks' the vote.
Tuesday, June 18 2013 12:20 PM EDT2013-06-18 16:20:44 GMT
Detroit Metropolitan Airport officials evacuated a section of the McNamara Terminal Tuesday morning after a canine picked up the scent of explosives on the apron, where planes load.
Detroit Metropolitan Airport officials evacuated a section of the McNamara Terminal Tuesday morning after a canine picked up the scent of explosives on the apron, where planes load.
State Treasurer Andy Dillon meet with Detroit community leaders on Friday. (Credit: Fox 2 News)
