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Thread: Detroit Files for Largest Municipal Bankruptcy in US History

  1. #101
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    Re: Detroit emergency manager files bankruptcy

    Detroit is like a living hell.

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    Re: Detroit emergency manager files bankruptcy

    Quote Originally Posted by joko104 View Post
    Anyway, the actual history of the death of American auto industry is popularly blamed on unions, when the real greater blame lays with the Greenies and the "OMG CARS ARE DANGEROUS!" folks. It was the end of the decades long the truly great design, creatively and uniquely American history and love-affair with the automobile. Cars actually used to have STYLE!
    Now that is bull****. The American auto industry did not innovate and change with the times, that is why they failed.

    The only American car company that did not fail was Ford, and that is solely due to the fact that Ford had a big stake overseas in Europe where regulations forced them, and European and Japanese car makers, to innovate and improve their cars.

    And that all happened while GM and Chrysler pushed out the same crap cars in a new design year after year.
    PeteEU

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    Re: Detroit emergency manager files bankruptcy

    Where's OCP when Delta City needs them?


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    Re: Detroit Files for Largest Municipal Bankruptcy in US History

    Quote Originally Posted by Dr. Chuckles View Post
    Even running around Detroit ten years ago, you got a clear idea why they chose that as the setting for Robocop. The cass corridor looks like something from an urban warzone in africa
    Yep. Every time I hear of Detroit having more problems, i think of that 1987 film. Someone saw the writing on the wall...

    Plot:

    In the near future, Detroit, Michigan is on the verge of collapse due to financial ruin and unchecked crime. The mega-corporation Omni Consumer Products (OCP) enters into a contract with the city to run the police force. OCP plans to demolish "Old Detroit" and redevelop it as a high-end utopia called "Delta City." To address the city's crime, OCP tests several projects to engineer robotic law enforcement. During a presentation of a project spearheaded by the senior president, Dick Jones (Ronny Cox), the ED-209 enforcement droid malfunctions and kills a junior executive. With Delta City's construction scheduled to begin within months, the OCP Chairman (Dan O'Herlihy) immediately advances an alternative put forth by an ambitious, middle-ranking executive named Bob Morton (Miguel Ferrer). Morton calls his cyborg project "RoboCop."

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    Re: Detroit Files for Largest Municipal Bankruptcy in US History

    Quote Originally Posted by LowDown View Post
    Yes, there's no question that the latter groups you mention will contribute nothing to the recovery, and that has to be consitered.
    So if you were the judges, what would you do regarding people on pensions for city work?
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    Re: Detroit Files for Largest Municipal Bankruptcy in US History

    Quote Originally Posted by haymarket View Post
    So if you were the judges, what would you do regarding people on pensions for city work?
    It's a crappy situation, to be sure. But Bondholders come first in a bankruptcy - that's the law.
    Last edited by cpwill; 07-19-13 at 07:50 AM.

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    Re: Detroit Files for Largest Municipal Bankruptcy in US History

    Quote Originally Posted by cpwill View Post
    It's a crappy situation, to be sure. But Bondholders come first in a bankruptcy - that's the law.
    Ah yes - serve the needs of the rich corporations over the needs of the common people. Got it.
    __________________________________________________ _
    There are two novels that can change a bookish fourteen-year old's life: The Lord of the Rings and Atlas Shrugged. One is a childish fantasy that often engenders a lifelong obsession with its unbelievable heroes, leading to an emotionally stunted, socially crippled adulthood, unable to deal with the real world. The other, of course, involves orcs.... John Rogers

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    Re: Detroit Files for Largest Municipal Bankruptcy in US History

    Quote Originally Posted by rabbitcaebannog View Post
    Tax payers and teachers got screwed over. Teachers that went to retire after 30 years received an average pension of $23,000 to live off of until they died. Of course, that got them half a year and then they went on welfare. I suppose you could say poor tax payers because they ended up paying out for welfare until these teachers died. Pension systems (that are not corrupt) save the tax payers money. Just a fact.
    According to what I read, in 1991 it was $25,000, but whatever. How much do you think the average Social Security recipient receives today?? $14,760 a year. What's the maximum a Social Security recipient can receive today? $30,000. Today. Why are public sector workers not a part of the system that's good enough for everyone else?

    Pretty sure most people know the answer to that...
    The devil whispered in my ear, "You cannot withstand the storm." I whispered back, "I am ​the storm."

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    Re: Detroit Files for Largest Municipal Bankruptcy in US History

    Quote Originally Posted by haymarket View Post
    Ah yes - serve the needs of the rich corporations over the needs of the common people. Got it.
    1. No. Whose interests are served are irrelevant (or should be) to a judge. What the law is is what matters - and the law is pretty clear. Bondholders come first. Otherwise, other municipalities will find it increasingly difficult and costly to borrow, and more of them will go into bankruptcy, and more public workers will suddenly find their pensions disappearing. Your proposed policy will have the opposite of the effect you are hoping to achieve.

    2. Alot of those bondholders are retirees themselves, or pension funds that pay out to retirees. Not a little bit of your argument comes down to "we should screw over private sector retirees in order to better benefit public sector retirees".

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    Re: Detroit Files for Largest Municipal Bankruptcy in US History

    Quote Originally Posted by rabbitcaebannog View Post
    Is she a teacher or administrator? I'd like to see that link.
    She was a teacher with administrative responsibilities. I'm sorry I can't give you that for privacy reasons.
    The devil whispered in my ear, "You cannot withstand the storm." I whispered back, "I am ​the storm."

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