DETROIT (AP) — After several weeks of talks, only one deal has been reached between the state-appointed emergency manager hired to fix Detroit’s finances and more than 50 creditors, two public pension funds and unions jockeying for their share of billions of dollars the city owes them.
The pace is frustrating for some, who are balking at the 10 cents on a dollar offered by bankruptcy attorney Kevyn Orr.
Orr told them last month that time was short on fixing a $17 billion debt load. He put the odds of a bankruptcy filing at 50-50.
Detroit- area turnaround expert James McTevia says Orr cold justify bankruptcy “if there are enough people not willing to get on the bus.”
It would make Detroit the largest city in U.S. history to seek bankruptcy protection.
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After all the problems the city has faced this year, ranging from bidding problems in major projects to the near crisis with the water supply, Mayor Carl Brewer has officially pointed his finger at city staff. The culprit from his point …
Oklahoma Department of Emergency Management spokeswoman Keli Cain said Monday that the Medical Examiner reports that eight people have died from the wintry storm.
Some Pratt shelter dogs are getting a new lease on life with the help of students from Stafford High School.
Five people, including several students, had to be taken to the hospital after a school bus crash early Monday morning.
Daycare operator saves seven children after van bursts into flames.
The Kansas Bureau of Investigation says its third-highest administrator no longer works at the agency.
The recent winter storms are forcing the Hutchinson Salt Company to ramp up production.