Black People : Detroit's Bailout: Real Or Hype?

Discussion in 'Black People Open Forum' started by chuck, Nov 8, 2014.

  1. chuck

    chuck Well-Known Member MEMBER

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  2. Kemetstry

    Kemetstry going above and beyond PREMIUM MEMBER

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    :bs: Where are the jobs? None of the new developments guarantee locals work.





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  3. chuck

    chuck Well-Known Member MEMBER

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    Considering what the sister retiree brought up during her interview, I am also starting to believe you and/or my former black detroit neighbors have awfully short memory spans, etc.

    I. e., the agenda-- after the Detroit Rebellion of 1967-- was DISINVESTMENT--by the white powers that be, as regarded most (if not all) of the white private sector, etc.

    So, also don't you and others black Detroiters--not let the present republican white governor etc. blame it all on past black elected officials--including detroit's first black mayor--Coleman A. Young-- and/or the other party who was in power-- at the time....

    FYI
     
  4. chuck

    chuck Well-Known Member MEMBER

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  5. chuck

    chuck Well-Known Member MEMBER

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    As I said before: If they can get away with this here, they're try this where you are too, posters...

    FYI
     
  6. KingSango

    KingSango Banned MEMBER

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    Detroit sits in a very strategic economic position. Its geographic locations finds Detroit as one the few Midwestern cities with a coastal outlet in which trade ships can harbor. What happened to Detroit is the U.S government shut it down by engineering White Flight and economic oppression of Blacks. When someone speaks of the U.S government causing all these urban gentrification events like Detroit and St.Louis don't everybody suddenly get quiet. Uncle Sam is the issue not your local munipalities. Billions is spent on institutions that social engineer racial, economic and poltictical disparities. To fight this is futile, the damage is so extensive it will take Federal undoing that's if you can get them out of the way first. The U.S loves undermining Black development. The U.S loves to war against Black power.
     
  7. Kemetstry

    Kemetstry going above and beyond PREMIUM MEMBER

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    Hackel critical of Detroit bankruptcy ‘celebration'
    [​IMG]
    This July 17, 2013 aerial photo shows the city of Detroit. On Friday, Nov. 7, 2014, federal bankruptcy judge Steven Rhodes approved Detroit’s plan to exit bankruptcy is fair and feasible. AP Photo/Paul Sancya
    By Jeff Payne, The Macomb Daily

    [​IMG]
    Mark Hackel
    What played out on a crowded podium in Detroit Friday didn’t sit well with Macomb County’s top elected official.
    While a collection of elected and appointed players were celebrating Detroit’s emergence from bankruptcy, Macomb County Executive Mark Hackel was critical of their tone.
    His comments came after a judge on Friday approved Detroit’s plan to get out of bankruptcy, ending the largest public filing in U.S. history and launching the city into a turnaround that will require discipline after years of corruption, budget-busting debt and an exodus of residents.
    #AD_text{ font-size: 11px; color: #999999; }
    Advertisement
    Judge Steven Rhodes announced his decision from the bench.
    “The court confirms the plan,” Rhodes said within seconds of entering court. He urged the audience to be prepared for a long explanation.
    Detroit is cutting the pensions of general retirees by 4.5 percent, erasing $7 billion of debt and promising to spend $1.7 billion to demolish scores of dead buildings, improve public safety and upgrade basic services, among other key steps.
    Hackel took issue with the lack of mention of those who were impacted by proceedings, specifically pensioners and suburban water users. Most Macomb County municipalities are hooked into the water and sewer system previously owned and operated by Detroit. They will now be serviced by the Great Lakes Water Authority, an entity that Hackel says was “forced” on the suburbs, which will have a vote on a regional board.
    “It should be a lesson learned, not a celebration,” Hackel said of the response officials had to Rhodes’ ruling. “This was all contrived. A lot of people suffered as a result of this.”
    The case concluded in just under 16 months, lightning speed by bankruptcy standards. The success was largely due to a series of deals between Detroit and major creditors, especially retirees who agreed to accept smaller pension checks after the judge said they had no protection under the Michigan Constitution.
    No significant critics were left by early October. Bond insurers with more than $1 billion at stake repeatedly argued for the sale of valuable art but dropped that plea and settled for much less.
    It took more than two years for a smaller city, Stockton, California, to get out of bankruptcy. San Bernardino, a California city even smaller than Stockton, still is operating under Chapter 9 protection more than two years after filing.
    Rhodes had to accept Detroit’s remedy or reject it in full, not pick pieces. His appointed expert, Martha “Marti” Kopacz of Boston, said it was “skinny” but “feasible,” and she linked any future success to the skills of Mayor Mike Duggan and the city council and a badly needed overhaul of technology at city hall.
    The most unusual feature of the plan is an $816 million pot of money funded by the state, foundations, philanthropists and The Detroit Institute of Arts. The money will patch holes in Detroit’s pension funds, prevent even deeper cuts to retirees and avert the sale of city-owned art at the world-class museum.
    Michigan Gov. Rick Snyder appointed Kevyn Orr as emergency manager in March 2013, giving him extraordinary authority to fix the city’s finances.
    With more square miles than Manhattan, Boston and San Francisco combined, Detroit didn’t have enough tax revenue to reliably cover pensions, retiree health insurance and buckets of debt sold to keep the budget afloat.
    The city has a population of 688,000, down nearly 30 percent from 2000 and an even longer descent from 1.2 million in 1980.
    Duggan, in office less than a year, is the fourth mayor since 2008 when Kwame Kilpatrick resigned in scandal. A dreadful debt deal under Kilpatrick that locked Detroit into a high interest rate when rates were falling during the recession contributed to the bankruptcy.
    On the west side of Dequindre Road, in Oakland County, Hackel’s counterpart had a different take.
    Oakland County Executive L. Brooks Patterson said there must have been a “collective sigh of relief” across southeast Michigan Friday after U.S. Bankruptcy Judge Steven Rhodes approved Detroit’s plan to exit bankruptcy protection.
    “It’s obviously a bright future for Detroit and I wish Mayor (Mike) Duggan and the city council well as they face the remaining challenges,” Patterson said. “I would be remiss if I didn’t congratulate Gov. Rick Snyder for his courageous leadership, and certainly recognition goes to (Detroit Emergency Manager) Kevyn Orr for his deft handling of such a complex case.”
    The decision ends the largest public filing in U.S. history and launches the city into a turnaround that will require discipline after years of corruption, budget-busting debt and an exodus of residents.





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  8. Kemetstry

    Kemetstry going above and beyond PREMIUM MEMBER

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    Five Things the Mainstream Media Won't Tell You About Detroit's Bankruptcy
    Posted By Michael Jackman on Mon, Nov 10, 2014 at 11:38 AM
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    Amid all the cheerleading surrounding a "reborn" Detroit, with our local news media sounding huzzahs over a successful bankruptcy and interviewers gushing over people like Gov. Rick Snyder and Kevyn Orr as if they were celebrities, a lot of troubling facts are being lost in the shuffle. Since we figure it's our job to provide a corrective to all this, here's this morning's reply to this celebration, garnered mostly from reporting in our own weekly paper, and assembled to the best of our knowledge this morning after several cups of coffee. It's the five things about Detroit's bankruptcy nobody in the mainstream media will likely mention today.

    1) It didn't have to happen
    Bankruptcy, now portrayed as inevitable, wasn't necessary to begin with. Several years ago, Lansing got Detroit to reduce its tax rate in exchange for a promise that Detroit's revenue-sharing wouldn’t be cut. With reduced tax revenues, the city abided by the agreement and put its precious faith in Lansing to come through on its promise. Under Gov. Snyder, the revenue-sharing was cut when Lansing went back on its word, leaving the city in the lurch. Had Lansing not broken its word, many knowledgable observers say, the city would not have been pushed over the edge into bankruptcy. Even senior banking officials have acknowledged that the entire bankruptcy was not needed.

    2) Race was a potent factor in enabling the takeover of Michigan's cities by emergency managers
    As Bloomberg news reported a year-and-a-half ago, "When emergency manager Kevyn Orr arrives in near-bankrupt Detroit, almost half of Michigan’s black population will live under the rule of state overseers with little say in the governments nearest them." In Michigan, where outstate whites often view urban, African-American residents with suspicion and prejudice, it's fair to conclude that opinion would have swung in a different direction if the state's Caucasian residents bore the brunt of this selective suspension of democracy. Yet, most commentators downplayed race as a factor.

    3) It was pre-ordained and planned as a test case to see if governments could shed pension obligations
    Even one of the major players in the case, U.S. Judge Steven Rhodes, noted that an alternate "composite narrative" existed for the bankruptcy, in which "the bankruptcy was the intended consequence of a years-long, strategic plan." Some critics trace that narrative back to 2011 piece titled “Pensions and Chapter 9: Can Municipalities Use Bankruptcy to Solve Their Pension Woes?” that appeared in the Emory Law School’s Bankruptcy Developments Journal, authored by attorneys Jeffrey B. Ellman and Daniel J. Merrett, both employees of Jones Day. As Curt Guyette wrote, "For Ellman and Merrett, the concern wasn’t how to explore ways to keep those obligations, but rather in explaining how cash-strapped cities might evade them."
    Why did Michigan's largest city present such a tempting test case? If you could alter pension obligations in Michigan, where the matter is written into the state constitution, then you might be more likely to get away with it elsewhere.
    Then there's the way Lansing's legislature rammed through the expanded Emergency Manager legislation and implemented it right away. And when the people of Michigan voted it down in a referendum, the lame duck legislature rammed it right through again in a way it wouldn't be subject to referendum again, suggesting the players had a schedule they had to keep to. Documents later surfaced showing Jones Day was already preparing documents related to a Detroit bankruptcy even as Gov. Snyder was saying it was only a last resort.
    As Guyette reported last week, once the bankruptcy would be approved, about $7 billion of the $18 billion in liabilities will be trimmed in bankruptcy, according to the most recent news accounts. Of that $7 billion, it appears as if nearly 80 percent is being taken from retirees. This is entirely in keeping with the "composite narrative" mentioned Judge Rhodes.

    4) Democracy is not returning to Detroit
    It's surprising how, in just a few short years, the very idea of local control being taken away from a city and dangled before a populace for more than a decade has become normalized. Detroit is the first step in this process. Detroit will be run, at least superficially, as if it were a democracy, but the decisions the democratic process produces will likely be overruled by boards and commissions, who may continue to exercise a sort of veto power over the administration of the city, largely influenced by Lansing, the very entity that got Detroit into this process. There will be, among other assemblies, a nine-member oversight commission (with seven Lansing appointees) for 13 years, and probably a Lansing-appointed Transition Advisory Board to monitor Detroit City Council, and even the possibility that the city's nine-member Financial Advisory Board may continue to meet. After all, since Lansing and out-of-state lawyers went to all the trouble to set up these mechanisms of control, we imagine they'll be rather reluctant to dissolve any body that wields power over the subjects of their rule.

    5) This whole ordeal would have been impossible without the aid of the mainstream media in Detroit
    The very media personalities and journalists celebrating today with banner headlines were the ones who hewed to a narrative that the bankruptcy was about dollars and not race, and that it was inescapable, benign, and that a new day is beginning. Certainly, if they had done their job of investigating as thoroughly as such reporters as Curt Guyette and Ryan Felton did, they'd have come to much more complicated conclusions. Their daily cheerleading for Kevyn Orr and Gov. Rick Snyder exhibits some kind of new low in journalists abdicating their duty to be the skeptical interrogators of the powerful. A journalist's job, as they used to say, is "to comfort the afflicted and afflict the comfortable." This episode offers proof that, with a few exceptions, Detroit media simply don't do that anymore.




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  9. chuck

    chuck Well-Known Member MEMBER

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    Yes, I've decided to clean the slate, and/or start fresh (if not just over)...

    First of all, what is noticeable is neither of you decided to either admit or acknowledge those articles etc., which I brought to you and the other posters attention, etc.

    I. e., if you did or decide to do so, the backdrop is also what didn't just take place via the Urban Rebellion here in 1967, also what took place in the following year, as in hundreds of uprisings etc., after the cowardly murder of one of the most beloved black leaders in this nation's history, Martin Luther King, Jr.

    Ironically, both the forces behind our resistance and/or oppression got it all wrong, and the results bred the present crisis...

    Flashforward and the related issues/problems/etc., which the protests around wrongful death b. s. and the absurd notions that legalizing drugs ad naseum will resolve things, whereas the impact of booze as contrasted to drugs is an apples vs. oranges scenario, etc., also reveals the naivete of our own peoples, whereas the big lie is blacks were key players as regards what ails our people, from the getgo...

    Instead, recent facts also reveal those the other side used and misused to advance their own exploitive and oppressive means/ends/etc.

    Now, we read and hear of folk in both Central America and a particular nation in the Middleeast, they were or are a source of the world's drug trade...

    Yes, I do know what our gripes are with the first, but what is the real basis of their gripes with the second?

    My and the as well as more to the point:

    Both were and are means to their ends...

    Such is what brother Malcolm alluded to, via his famous 'Grassroots' speech...

    I have found both of you to be intelligent posters, though only when you choose to be, and as is true of all people, some also choose to be a part of the problem, rather than a part of the solution, too...

    As is also true: Some kiss up, as others attempt to stand up...

    So who do you expect to as well?

    Time will tell...

    FYI
     
  10. chuck

    chuck Well-Known Member MEMBER

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    For all of the pro black hype etc., this website's posters have gotten awfully quiet, all of a sudden!

    And, what's up with that, too?

    SMH
     
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