Experts Split On Detroit's Fiscal Recovery Options
In less than a month, Michigan Gov. Rick Snyder will decide whether the state will take over Detroit's broken finances and send in someone to oversee the city's fiscal recovery.
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In less than a month, Michigan Gov. Rick Snyder will decide whether the state will take over Detroit's broken finances and send in someone to oversee the city's fiscal recovery.
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.
Students probably don't want to even think about the first day of school for the next school year but it's coming.
The project, called "The Stories of Us," invites communities across the country to reflect on their past, present, and future.
A bomb threat to Fifth Third Field in Toledo resulted in a federal grand jury indictment against a Southeast Michigan man.
Two women are accused of assaulting a Pittsfield Township restaurant employee during an altercation that included throwing food and a plate.
Former Warren police officer James Burke, who was charged with manslaughter in a 2024 high-speed crash that killed two men, has been found not guilty of all charges.
The opening of the Gordie Howe International Bridge over the Detroit River is officially delayed, the bridge authority said Thursday.
A Farmington Hills man was arrested on second-degree murder in the case of a man found dead in a Farmington Hills city park.
Former Warren police officer James Burke, who was charged with manslaughter in a 2024 high-speed crash that killed two men, has been found not guilty of all charges.
The threat of severe weather continues into Thursday for much of the Great Lakes and Midwest, including in Metro Detroit.
Two women are accused of assaulting a Pittsfield Township restaurant employee during an altercation that included throwing food and a plate.
The United Auto Workers announced on Wednesday a tentative agreement with American Axle in Three Rivers, Michigan, ending a 10-day strike.
American Axle, which is headquartered in Detroit, is a Tier 1 supplier to General Motors. UAW members have launched a strike at its Three Rivers site.
The UAW became known for fighting for higher wages, improved benefits and safer working conditions for workers across the auto industry.
Stellantis unveiled a nearly $70 million five-year strategic plan with the launch of new vehicles — including hybrids and EVs — over the next five years.
From classic cruisers to new memories still being made, the Woodward Dream Cruise remains a celebration of Michigan's automotive culture.
The project, called "The Stories of Us," invites communities across the country to reflect on their past, present, and future.
The 29th annual Michigan Lottery Arts, Beats & Eats festival kicks off Labor Day weekend in Royal Oak.
Joe Negri, known to many as Handyman Negri on "Mr. Rogers' Neighborhood," has died at the age of 99, just days shy of his 100th birthday.
Stephen Colbert, former host of "The Late Show," is helping raise money for the Michigan nonprofit Monroe Community Media after appearing on a broadcast of the organization's community access program "Only in Monroe" earlier this month.
President Trump said he is considering replacing the Freedom 250 concert series with a rally after many artists dropped out.
Multiple floors of the Pentagon were locked down for several hours Thursday morning and hazmat crews were deployed for what authorities had described as a "hazardous materials incident."
Many have watched recently released UFO videos, but most still think the government knows more than it is saying.
The U.S. men's national soccer team, which last appeared at the 2022 World Cup, will face Paraguay to kick off its 2026 World Cup.
Byron Buxton hit his 20th home run of the season, Royce Lewis also connected and the Minnesota Twins beat the Detroit Tigers 6-4 on Wednesday night.
After years of construction and decades of planning, the Gordie Howe International Bridge appears to be closer than ever to opening.
New data from Flint's Rx Kids program shows an 18% reduction in preterm births and a 27% drop in low birth weights, and Detroit officials say they expect similar results as enrollment nears 3,000 families.
Feldman Automotive and the Wahlberg family teamed up to launch the outing six years ago, growing it into one of the region's top charity golf events.
Now out of the hospital, Tavaun Clark says he's focused on recovering and getting back to what he loves most, playing football this summer.
According to the U.S. Attorney's Office, the two people are accused of providing federal authorities with false statements after arriving at the McNamara Terminal on Jan. 25, 2026.
West Nile virus has been detected among mosquitoes in two locations near Grand Rapids, the Kent County Health Department said.
The U.S. men's national soccer team, which last appeared at the 2022 World Cup, will face Paraguay to kick off its 2026 World Cup.
Byron Buxton hit his 20th home run of the season, Royce Lewis also connected and the Minnesota Twins beat the Detroit Tigers 6-4 on Wednesday night.
Dillon Dingler had two homers among his four hits and drove in four runs, leading the Detroit Tigers to a 10-4 win over the Minnesota Twins.
2026 will be the final year for the Rocket Classic in Detroit.
Detroit Red Wings captain Dylan Larkin has requested a trade by submitting a three-team list of desired destinations, a person familiar with discussions confirmed to The Associated Press.
Four leaders appear in one-on-one conversations on CBS Detroit's Michigan Matters this Sunday to discuss their political futures and the road ahead in the 2026 midterms.
Bob Riney, president and CEO of Henry Ford Health, headlines Michigan Matters this Sunday, along with three other community champions who discuss important issues dissected at the Mackinac Policy Conference.
It's the fourth year the Detroit Grand Prix has been on the streets of the Motor City after moving from Belle Isle.
This week on Michigan Matters, the roundtable talks about the governor's race and the impact of former Detroit Mayor Mike Duggan.
The roundtable discusses the impact of rising gas prices and friction at the federal level with Canada and the U.S., and how it affects tourism.
The opening of the Gordie Howe International Bridge over the Detroit River is officially delayed, with no date given for allowing traffic to use the new border crossing between the U.S. and Canada.
A Livingston County organization is wasting no time preparing kids with what they need for the upcoming school year.
A new national storytelling initiative is launching in Detroit, giving people a chance to share their personal experiences through public art and a speech-to-story platform ahead of America’s 250th anniversary.
The Farmington Hills Police Department has arrested a 23-year-old Farmington Hills man after a man's body was found on May 3 at Woodland Hills Park.
Former Warren police officer James Burke, who was charged with manslaughter in a 2024 high-speed crash that killed two men, has been found not guilty of all charges.