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Detroit was...wait for it...

Corruptbuddha

Corruptbuddha

Governor
...'badly run'?

LOL.

http://www.nytimes.com/2013/03/12/u...sis-was-long-coming.html?pagewanted=all&_r=2&

But recent findings from a state-appointed review team and interviews with past and present city officials also suggest a city that over the years was remarkably badly run.
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You're kidding, right? :D

Love this bit -

“This was bad decisions piled on top of each other,” Gary Brown, the Detroit City Council president pro tem, said the other day. “It has all been a strategy of hope. You keep borrowing where every piece of collateral is already leveraged. You have no bonding capacity — you’re at junk status. You’re overestimating revenues and not managing the resources. Now the chickens have come home to roost.”
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Emphasis added

None of the decisions, experts here say, will be simple, and some wonder whether Detroit can be saved at all. Some 700,000 residents now live in this vast 139-square-mile city that once was home to nearly two million people. That number may fall to close to 600,000 by 2030 before the population begins to rise again, one regional planning group projects. By pushing costs into the future while its population is shrinking, Detroit has left the people least able to pay with the biggest share of its bills.

“Detroit is a microcosm of what’s going on in America, except America can still print money and borrow,” Mr. Boyle said.
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This is what happens when people incapable of leadership, are placed in leadership positions.
 
buddha - michigans governer has appointed a bankruptcy attorney to oversee detroits finances.

the SAME attorney who was appointed to oversee the Chrysler bankruptcy (for real)

possible outcome - Fiat takes over the detroit government, and downsizes it, with a total loss to shareholders/residents of their investment to date? this is what happened to chrysler
 
"The city was borrowing from restricted funds and keeping unclaimed property that it was required to turn over to the state."

That is a good one, too. so, essentially, they were stealing. Literally.... Unbelievable. But, you know - we should put our faith in Government. They will do right by us and protect us and look out for us.....

connie
 
as seen on tv said:
buddha - michigans governer has appointed a bankruptcy attorney to oversee detroits finances.

the SAME attorney who was appointed to oversee the Chrysler bankruptcy (for real)

possible outcome - Fiat takes over the detroit government, and downsizes it, with a total loss to shareholders/residents of their investment to date? this is what happened to chrysler
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I wonder if a cyborg police officer will rise to fight off the city's corporate owners :)
 
It could make for some good Movies. HEY - wait a minute. Maybe there is an idea to solve this revenue problem. They are probably only using about 1/3 of the city as it is. Maybe they could lease out the rest to Hollywood to use in films where they have to blow things up. Those Hollywood types are very good at cleaning something up when they are done blowing it up - so win/win. Blight and unoccupied buildings are destroyed, the city gets some revenue.... maybe they can angle for a cut of the profits.....

connie
 
Detroit was a cesspool, even back in the 1970s. I went there once, in 1976, and was promptly mugged. Never been there since, never had ANY desire to go there since. Never WILL go there, if I have anything to say about it.
 
I think the Democrats would just as soon ignore and try to forget some of their more egregious failures like Detroit, Chicago, Los Angeles (and all of southern California, in general), Philadelphia, Oakland, New Orleans, et al. Basically any large city run by Democrats is guaranteed to be a dismal failure financially, politically, socially and morally.
 
Yes, our closest major city, Baltimore will be bankrupt in 10 years if major changes aren't made. At least they were smart enough to actually commission such a study. I will say after many years of really shitty management - Mayor Stephanie Rawlings Blake is actually a smart woman. What can she do with the bunch of loosers who are her city counsel and in high ranking positions - not so sure. But, she has been at least making a serious effort. They have at least identified that the looming pensions and under-accounting for those pensions is a serious problem. There isn't much to do about it. And, they are trying to raise revenues.

But, like other major cities - they are struggling to retain a tax base. When your public schools suck and the crime rate is high, people with income and opportunities move out. It really has been a flaw - a major flaw in accounting for governmental entities that the pension obligations were so badly misaccounted for. In any other industry, in any other real of accounting - if you have a promise to pay an obligation in the future - you book that obligation - NOW. It may show as a long term obligation - but it is booked. Although in all the accounting for government is very weak in comparison with for profit companies. At least in for profit company accounting - the idea has always been that third parties ( investors/lenders) will rely on this info. By contrast the accounting for municipalities and states has always been more "informational" even though that info is used and relied upon by third parties - the actual mechanics of accounting and financial reporting are very very different. Even when I was in college and learned about the difference it struck me that accounting for governmental entities was much more lax than businesses.

connie
 
I think the Democrats would just as soon ignore and try to forget some of their more egregious failures like Detroit, Chicago, Los Angeles (and all of southern California, in general), Philadelphia, Oakland, New Orleans, et al. Basically any large city run by Democrats is guaranteed to be a dismal failure financially, politically, socially and morally
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No comment from Chief Gizzard????? Nope as usual he's distracting attention from reality on to more important news.
 
Hey the facts speak for themselves. Every big city run by Democrats is an intractable shit hole. Chubs can debate it if he wants, but facts are facts...
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k

I know his MO, he doesn't even attempt to defend the untenable fruits of dimmicrat dominion. He goes on the offense and hyper analyses the CPAC conference finding parody wherever he goes.

Oh and religion too. He can't get enough of targeting them God fearing peoples too. What else is he up to??? We shall see. Just logged on.
 
wookie-leeks said:
What else is he up to??? We shall see. Just logged on.
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The usual. Bad (but amusing) psychic predictions of other peoples' reading, listening, viewing and voting habits. Misplaced aggression toward his intellectual betters. Misidentification of opponents. Gay longing for Republican men. As I said, the usual...
 
They are removing 5000 houses per year in Detroit. I guess the summer gardens are supposed to pay off the bonds sold to perform the work? I'm having a hard time believing they can grow enough to feed themselves. This is a working budget? They are in dire straits. Everyone that could leave, did leave. Nothing but the dead and dying in my home town. (I'm from the suburbs)
 
As if they had any choice.

"Lord, don't make me so poor that I have to steal to eat"
King David
 
They are removing 5000 houses per year in Detroit. I guess the summer gardens are supposed to pay off the bonds sold to perform the work? I'm having a hard time believing they can grow enough to feed themselves. This is a working budget? They are in dire straits. Everyone that could leave, did leave. Nothing but the dead and dying in my home town. (I'm from the suburbs)​
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Never been there, but I hear the horror stories.

Then you have "Hardcore Pawn" a window into the soul of Detroit. Nothing witty or sentimental to add from our resident Michael Moore Gizzard Boy??????
 
as a surveyor I had to go into the city on occasion. This was 1985. You likely was downtown and an easy mark. But if you wanted to see the worst of it, head into East Detroit. There are whole blocks of crack houses. Not a single pane of glass survived, all boarded up, the back yards are viable scrap yards, filled with autos stolen and stripped, everyone "living" there fills the street, hanging out, doing drugs and drunk as ever, 24 hours, non-stop. If you are a white guy, and you stop for something as trivial as a red light, you are a dead white guy. That was 1985. In 1976-77 I was a senior in high school. I had a job working for my dad on Wyoming Avenue; took the John C Lodge to get to work. At that time, the gangs were still busy killing off the old white folks and driving them out of the city limits. The John C Lodge was being patrolled by state troopers, solely for murder; they didn't write speeding tickets because in the time they wrote that ticket a family of four would be pumped full of lead. It was understood that if I had a flat tire; don't change it! - just run on the rim and get the heck off the freeway. I once over heated; had to stop, the car would not run... someone stopped to help me; on the John C Lodge that was called risking your life to try and save a life. I actually lived in the city for awhile, on the far western border, but I still stood out like a golf ball in a coal bin. I cry for Detroit, like Jeremiah did for Jerusalem. Her sins caught up with her. But it once was a beautiful city.
 
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