Expert: Detroit Could Go Bankrupt Before End Of Year
Projections show Detroit's cash on hand dropping as low as $3.6 million by Dec. 21. It stood at $53 million on Friday.
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Projections show Detroit's cash on hand dropping as low as $3.6 million by Dec. 21. It stood at $53 million on Friday.
American Suzuki Motor says it decided to exit the car business because of slow sales, unfavorable foreign exchange rates and high costs due to U.S. regulatory requirements
Energy Conversion Devices Inc. (OTC: ENERQ.PK) and its wholly-owned subsidiary United Solar Ovonic LLC last week announced that the United States Bankruptcy Court for the Eastern District of Michigan has confirmed its Second Amended Joint Plan of Liquidation.
John L. Smith always believed real estate development was the safest investment of all, saying "you may not make money, but you won't lose money."
A bank is extending a deadline on a bond transaction that will let the city of Detroit get most of June's revenue sharing payment from the state.
The Detroit News and Detroit Free Press report Monday that Ayanna Kilpatrick claims to owe $345,000 and have monthly expenses of over $3,900.
The sale of United Solar as a going concern won't happen. Its parent company, Energy Conversion Devices, Monday announced that the assets related to the United Solar Ovonic LLC thin, flexible solar panel business will be sold at auction June 26.
It still owes the government just under $12 billion from a $17.2 billion dollar loan it got during the financial meltdown of 2008 and '09.
Hostess Brands Inc. has told Michigan officials that it could lay off all of its 381 employees at 20 locations in the state if the company liquidates as part of its bankruptcy restructuring.
"Detroit ... couldn't survive without a manger," Patterson told attendees at an Chamber of Commerce breakfast at Oakland University on Wednesday.
Citing high debt and legacy costs, Energy Conversion Devices Inc. and its solar panel manufacturing subsidiary United Solar Ovonic LLC filed for Chapter 11 bankruptcy protection in U.S. Bankruptcy Court for the Eastern District of Michigan.
A Farmington Hills-based company that leads the nation in so-called medi-spa services and has more than 100 locations across the nation has filed for bankruptcy protection.
Creditors have their hands out as the Borders Group Inc. filed for bankruptcy and now, the line is getting longer.
The Wall Street Journal is reporting that the private equity firm that tentatively agreed to purchase bankrupt Ann Arbor-based Borders Group is having second thoughts.
Gov. Rick Snyder tells reporters in Lansing that he is not going to let Detroit or any other Michigan city fall into bankruptcy.
Pontiac's Emergency Manager has written a letter to Executive Brooks Patterson asking for a meeting to discuss the possibilities of merging the city with the county.
Marchionne was reminded of a 2008 op-ed column in which Romney urged the federal government to force automakers into a "managed bankruptcy."
Now that the emergency financial manager bill has passed, how many schools should expect to have the new law applied to their districts?
Borders gets approval from a federal bankruptcy judge to close another 28 stores around the country.
A federal judge is expected to finalize a plan that will lead to the end of what is being called the "old" General Motors
It was a packed house inside the borders book store in Dearborn for the company's liquidation sale.
Liquidation sales get underway Saturday morning at more than 200 Borders bookstores around the country.
A group of car dealers who lost their businesses in Chrysler's 2009 bankruptcy have sued the government, claiming their dealerships were shuttered without adequate compensation.
It's been long rumored, and now it's been confirmed: Borders is ready to start the bankruptcy process.
There's yet another report that Ann Arbor-based bookseller Borders Group will declare bankruptcy.
A Saline man has died, and a Monroe woman is seriously injured, after a three-vehicle crash in Washtenaw County.
A 72-year-old woman was found in the living room of a house that was on fire Monday evening in Dearborn.
A fight broke out between the Detroit Pistons and Charlotte Hornets in the third quarter of Monday night's game, and four players were ejected.
From Martin Luther King's "I Have A Dream Speech" to Kendrick Lamar's Super Bowl Halftime Show performance in 2025, one Detroiter is connecting readers with Black history, one line at a time.
Just when you thought Michigan roads couldn't get any worse, there is a high chance they will on Tuesday.
President Trump said Monday he would block the opening of the Gordie Howe International Bridge between Detroit and Canada "until the United States is fully compensated for everything we have given them."
A Saline man has died, and a Monroe woman is seriously injured, after a three-vehicle crash in Washtenaw County.
Just when you thought Michigan roads couldn't get any worse, there is a high chance they will on Tuesday.
A fight broke out between the Detroit Pistons and Charlotte Hornets in the third quarter of Monday night's game, and four players were ejected.
A 72-year-old woman was found in the living room of a house that was on fire Monday evening in Dearborn.
Union Vice President Laura Dickerson confirmed that the worker, TJ Sabula, "has no discipline on his record."
Some General Motors employees are taken aback by this year's profit-sharing checks, with it being $4,000 less than the previous one.
While many assume a "harsh" winter, or this bone-chilling, sustained cold, is the enemy of asphalt, the real culprit is temperature fluctuation.
In Metro Detroit, drivers are paying about $2.90 per gallon, which is 2 cents less than last week and 29 cents less than at the same time last year.
The winter storm that brought snow to Southeast Michigan on Sunday didn't stop car enthusiasts from leaving their homes for the final day of the 2026 Detroit Auto Show.
For the first time, a major U.S. automaker is putting a team up against the European giants of Formula One. Can Cadillac be a contender?
The 31-year-old Puerto Rican artist Bad Bunny took the stage on Sunday dressed in all white, donning a jersey with his last name, Ocasio, and the number 64.
Brad Arnold, the founder and lead singer of the 3 Doors Down has died following "his courageous battle with cancer," the rock band announced Saturday on social media.
Bad Bunny took the stage at halftime for the 2026 Super Bowl. Here's who else performed at Super Bowl 60.
Lead singer and frontman Dee Snider said he suffers from degenerative arthritis and has had several surgeries over the years.
A fight broke out between the Detroit Pistons and Charlotte Hornets in the third quarter of Monday night's game, and four players were ejected.
Cade Cunningham had 33 points and nine rebounds, and the Detroit Pistons hung on to beat Charlotte 110-104 on Monday night, snapping the Hornets' nine-game winning streak in a wild game that included a fight and four player ejections.
Tracy Scroggins, who had 60 1/2 sacks in 10 seasons as a playmaking defensive end for the Detroit Lions, has died. He was 56.
The Detroit Tigers announce that Major League Baseball will produce and distribute their local TV broadcasts this season.
Instagram's parent company Meta and Google's YouTube dispute claims that their platforms deliberately addict and harm children.
Officials announced eligibility for mothers and babies in the city of Detroit.
Two Metro Detroit representatives are among those sponsoring a bill that calls for a 32% tax on any wireless device purchased for someone age 17 and younger.
The Oakland Community Health Network will now be taking over that responsibility amidst a financial dispute between the two organizations.
Legionella testing at Oakland County government facilities has detected the bacteria in the water systems of two additional buildings.
When the temperatures plummet, and the snow starts piling up, most of us have the same instinct: retreat indoors, crank up the heat, and get cozy.
A fight broke out between the Detroit Pistons and Charlotte Hornets in the third quarter of Monday night's game, and four players were ejected.
Cade Cunningham had 33 points and nine rebounds, and the Detroit Pistons hung on to beat Charlotte 110-104 on Monday night, snapping the Hornets' nine-game winning streak in a wild game that included a fight and four player ejections.
Tracy Scroggins, who had 60 1/2 sacks in 10 seasons as a playmaking defensive end for the Detroit Lions, has died. He was 56.
The Detroit Tigers announce that Major League Baseball will produce and distribute their local TV broadcasts this season.
Here is a look at where the medal count stands for Team USA and other nations as the competition heats up at the 2026 Winter Olympics.
The roundtable discusses the impact of the high-profile game for advertisers, including Detroit-based Rocket and Redfin.
Could a new entertainment tax and a new sales tax be ahead for the Motor City?
As the 2026 Detroit Auto Show wraps up Sunday, the roundtable discusses the signature event and standout moments from the past two weeks.
Penske and Reuss address a wide range of critical issues for Detroit, Michigan and the nation.
Huntington Place CEO Bryan Crowe and his team have been preparing to welcome hundreds of thousands of visitors to the Detroit Auto Show this week.
A man is dead after he was run over with his own Jeep Compass after getting gas and returning to the vehicle to find someone else inside. Detroit Police are investigating.
President Trump has threatened to block the opening of the Gordie Howe Bridge between Detroit and Windsor. Potholes are forming early this year with the temperature swings. Other top stories and weather.
Officials say that the Ford worker who got into a heated verbal exchange with President Trump during a factory visit will keep his job.
More than a year after a 5-year-old boy died in a hyperbaric treatment chamber explosion, a key court ruling is expected on the status of some of the criminal charges. Here's a recap of the case involving the child's death at the Oxford Center.
Could it really be??? We actually are warming up a bit today!!! Not shorts or t-shirt weather but I'll take it!! Looking at mostly cloudy skies, with a high near 42. South wind 7 to 10 mph becoming west in the afternoon. Now these mild temps won't last forever as we get a little colder Wednesday through Friday but continued dry.