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Forum Post: Another city bites the financial dust ....Detroit !

Posted 9 months ago on July 18, 2013, 7:10 p.m. EST by bidask (3)
This content is user submitted and not an official statement

Where does the fault lie?

Bad management?

Bad labor contracts?

Bad politics?

Sucker lenders?

http://www.nytimes.com/2013/07/19/us/detroit-files-for-bankruptcy.html?pagewanted=all&_r=0

You cannot pay people money you do not have.

3 Comments

3 Comments


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[-] 2 points by bidask (3) 9 months ago

Leaders of public sector unions and municipal retirees around the nation will be focused on whether Detroit is permitted to slash pension benefits, despite a provision in the State Constitution that union leaders say bars such cuts.

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[-] -1 points by TikiJ (-38) 9 months ago

You cannot pay people when all the jobs are shipped out either.

Funny your post doesnt mention offshoring.

[-] -1 points by Moonbat (-37) 9 months ago

“I wasn’t going to let Detroit go bankrupt. Or Toledo go bankrupt. Or Lordstown go bankrupt. I bet on American workers,”

Funny how things change after an election.