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Published 5 months ago

10 years after filing for bankruptcy, Detroit boasts balanced budget, improved services

Summary by Fox Business
Detroit's newly hired emergency manager, Kevyn Orr, stood before reporters in March 2013 and issued a warning to city creditors, unions, vendors and others: "Don’t make me go to bankruptcy court. You won't enjoy it." On July 18, 2013, the restructuring expert did just that, making Detroit the largest city in the U.S. to file for bankruptcy. What followed was months of negotiations, federal court hearings and an unlikely coming together of founda…
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10 years after filing for bankruptcy, Detroit boasts balanced budget, improved services

Detroit's newly hired emergency manager, Kevyn Orr, stood before reporters in March 2013 and issued a warning to city creditors, unions, vendors and others: "Don’t make me go to bankruptcy court. You won't enjoy it." On July 18, 2013, the restructuring expert did just that, making Detroit the largest city in the U.S. to file for bankruptcy. What followed was months of negotiations, federal court hearings and an unlikely coming together of founda…

5 months ago·United States
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Crain's NYCrain's NY

MTA projects five straight years of balanced budgets in pandemic reversal

A tax boost, fare hikes and spending cuts will help solve funding gaps, the agency said

5 months ago
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