Analysis: Stuck in reverse, Detroit edges closer to bankruptcy

Comments (10)
Harry079 wrote:

Anyone who has lived near or in Detroit all know what killed this once great city.

Corruption on every level.

From the Water and Sewage Department to the Police, Trash Collection, Public Works, Power and Lighting, Detroit Public Schools, City Council and last but not the the Mayors Office. Corruption on top of more corruption.

Jan 28, 2013 6:10pm EST  --  Report as abuse
Yashmak wrote:

“. . .and labor costs have remained out of whack.”

Translation: “. . .and labor costs have remained uncompetitive in the global automotive market”

Jan 28, 2013 6:27pm EST  --  Report as abuse
gregbrew56 wrote:

…and a 1500 sq ft house can be had for less than $5k.

Jan 28, 2013 7:08pm EST  --  Report as abuse
SnoopyUSA wrote:

I do not believe Ford ever filed bankruptcy, as the article suggests? But that in no way is a significant contribution to Detroit’s problems. What happened with the automakers kept lots of jobs in Detroit, which probably kept it alive longer than it otherwise would have. I can’t think of anything that would save it now. Of course, the same thing is true of so many cities in the US, just Detroit is less fortunate.

Jan 28, 2013 7:10pm EST  --  Report as abuse
VultureTX wrote:

A city corrupted by Labor Union money no less.

Jan 28, 2013 7:20pm EST  --  Report as abuse
Dragos111 wrote:

They should do like all the other government agencies. Raise taxes. That seems to be the answer politicians always come up with. Oh wait, their companies and people are bankrupt. They can’t raise taxes.

OK, use the Nancy Pelosi method. Try to have the Federal Government bail them out. That way all the other states that are not bankrupt will have to pay for them. Hmmmmm… That will not work either. All the states are bankrupt, too.

OK, borrow more. Just issue debt. Hmmmmm… Nobody in his right mind will buy that debt.

Oh, what can we do? I suppose we could look at the spending side. Or, perhaps it is too late for that, too.

Seems like I see this scenario playing out someplace else, like at the Federal Government level, at every state level, at every city level, at every town and village, at every park district, library district, and school district level, too.

When are folks going to realize that government cannot go on spending the way it has been? We talk about becoming the new Greece. Heck, we are becoming the new Detroit.

Jan 28, 2013 7:52pm EST  --  Report as abuse
wthcares wrote:

gregbrew56, yah, yiou could CALL it a “house!” Idiot.

Jan 28, 2013 10:35pm EST  --  Report as abuse
Parker1227 wrote:

This is why so many conservatives are just shaking their heads, wondering how so many Americans cannot see what happens when leftist ideologues run cities, states – and now the country.

Leftist incompetence has destroyed Detroit and Chicago, and a dozen other large leftist run cities across the nation.

Obama will end up turning the whole country into a giant, corrupt big-government distopia – just like Chicago and Detroit.

Jan 29, 2013 1:16am EST  --  Report as abuse
kalamazooguy wrote:

Living on the west side of Michigan, it’s always amazing to read about Detroit’s problems which are almost always self-inflicted. They’ve had a history of corrupt mayors and as a union state, pensions and benefits are out of control yet reform is not a consideration. It’s a dirty city with significant crime, horrible inner city schools and a negative presentation well justified. None of this is surprising and when they go bankrupt…not if…it will be well earned.

Jan 29, 2013 9:03am EST  --  Report as abuse
gregbrew56 wrote:

wthcares – Check out the real-estate listings for Detroit and input a $5000 max for the results. Yes, they are mostly repos, but there are certainly some true bargains there too.

Research the facts, rather than engage in ad hominem attacks (the recourse of a weak mind).

Now who’s the idiot?

Jan 29, 2013 6:03pm EST  --  Report as abuse
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