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Old 12-04-2013, 07:36 AM
 
Location: Va. Beach
6,384 posts, read 4,227,857 times
Reputation: 2273

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Ok, Detroit used to be home to over 1.8 million people, has lost over 1 million people. That's a LOT of tax revenue. They have more debt than income, and they have been approved for bankruptcy.

Detroit bankruptcy moves forward as judge rules city can shed debt | Fox News

This is what caught my eye...

Quote:
Marcia Ingram, a retired clerical worker, said she may need to find work but added: "How many folks are going to hire a 60-year-old woman?"
Retired at 60? I wish I could do that! And for her question, there are MANY companies that hire older people who are good at their jobs. The company I work for has people ranging from their teens all the way to retirement age, and older. The company I work for focuses on YOU the person, and the job you are doing, not how old you are. In fact there are companies who prefer an older person, because heir work ethics tend to be of a higher caliber than many of today's younger generation. (Before you start griping about that comment, I said MANY, not ALL).

This also caught my eye -

Quote:
Much of the trial, which ended Nov. 8, focused on whether Orr's team had "good-faith" negotiations with creditors before the filing, a key step for a local government to be eligible for Chapter 9. Orr said four weeks were plenty, but unions and pension funds said there never were serious across-the-table talks.
I think that speaks volumes. the Unions, and Pension funds are worried? OMG! They should have started worrying, and preparing for this ages ago. This problem has been growing and growing, and all they can worry about is grabbing more money? They are part of the problem.

Unions, retirees prepare for appeal after Detroit ruled eligible for bankruptcy | MLive.com

Detroit cannot pay it's debts. HOW can these people expect it to pay money, it doesn't have?

Lesson for Union Dinosaurs: Detroit Bankruptcy - Mike Shedlock - Townhall Finance Conservative Columnists and Financial Commentary - Page full
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Old 12-04-2013, 07:42 AM
 
16,553 posts, read 11,053,156 times
Reputation: 4218
They are going to get bailed out. Wait and see.
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