Friday, June 14 2013 10:25 PM EDT2013-06-15 02:25:13 GMT
A team led by a state-appointed emergency manager said Friday that Detroit is defaulting on about $2.5 billion in unsecured debt and is asking creditors to take about 10 cents on the dollar of what the city owes them.
A team led by a state-appointed emergency manager said Friday that Detroit is defaulting on about $2.5 billion in unsecured debt and is asking creditors to take about 10 cents on the dollar of what the city owes them.
Friday, May 24 2013 12:07 PM EDT2013-05-24 16:07:12 GMT
Officials say the Detroit Institute of Arts' collection could be sold to help satisfy creditors if the financially troubled city of Detroit seeks bankruptcy protection.
Officials say the Detroit Institute of Arts' collection could be sold to help satisfy creditors if the financially troubled city of Detroit seeks bankruptcy protection.
Thursday, March 28 2013 11:56 AM EDT2013-03-28 15:56:34 GMT
Michigan's tougher emergency manager law takes effect Thursday. However, its opponents are seeking to block it in federal court, saying the measure is unconstitutional.
Michigan's tougher emergency manager law takes effect Thursday. However, its opponents are seeking to block it in federal court, saying the measure is unconstitutional.
Tuesday, March 26 2013 11:22 PM EDT2013-03-27 03:22:01 GMT
On the day Kevyn Orr takes over the management of the city, Fox 2's Charlie LeDuff goes back 40 years for a unique look back at the time Detroit elected its first African-American mayor.
On the day Kevyn Orr takes over the management of the city, effectively removing Mayor Dave Bing and the Detroit City Council from power, Fox 2's Charlie LeDuff goes back 40 years for a unique look back at the time Detroit elected its first African-American mayor.
Monday, March 25 2013 11:14 PM EDT2013-03-26 03:14:42 GMT
As Detroit's new EFM takes the reigns, young adults with a vested interest in the city are concerned about the future. However, the governor wants them to know they can be part of the change and the solution.
As Detroit's new emergency financial manager takes the reigns, young adults with a vested interest in the city are concerned about the future. However, the governor wants them to know they can be part of the change and the solution.
Monday, March 25 2013 9:18 PM EDT2013-03-26 01:18:49 GMT
Kevyn Orr, Detroit's new financial emergency manager, met with several city leaders during his first day on the job, but not everyone is thrilled with his arrival.
Kevyn Orr, Detroit's new financial emergency manager, met with several city leaders during his first day on the job, but not everyone is thrilled with his arrival.
Monday, March 25 2013 7:23 PM EDT2013-03-25 23:23:58 GMT
Detroit's EMS and police departments are getting a much needed shot in the arm from the corporate world. There will be new ambulances in the next four to five months and 100 new patrol cars within 60 to 90 days.
Detroit's EMS and police departments are getting a much needed shot in the arm from the corporate world. There will be new ambulances in the next four to five months and 100 new patrol cars within 60 to 90 days.
Monday, March 25 2013 12:56 PM EDT2013-03-25 16:56:46 GMT
Fox 2's Maurielle Lue reports protestors are still gathering, waving flags and signs against Detroit's new E.F.M. (Emergency Financial Manager).
Fox 2's Maurielle Lue reports protestors are still gathering, waving flags and signs against Detroit's new E.F.M. (Emergency Financial Manager). Despite the snow and chilly temperatures, the protest was strong for more than half an hour.
DETROIT (WJBK) -
Detroit City Council President Charles Pugh said he met with Governor Rick Snyder to make the case for a modified consent agreement with strict state oversight instead of an emergency manager.
Pugh, who is not seeking re-election, said he is concerned about how an emergency manager would affect the upcoming election and the selection of city leaders, who will be in place for the next several years.
Pugh also said he is not in favor of take legal action against the state. He is hoping the governor will hear his plea and reconsider.
"There is probably no city that's more financially challenged in the entire United States," the governor said last week when he declared Detroit in financial emergency with a cash flow deficit of nearly $100 million and billions in long-term liabilities.
The governor has not yet revealed his pick for an emergency manager, but he has told reporters it's a person with extensive financial and legal backgrounds and a track record of making decisions.
Meantime, a group of state representatives and union leaders gathered Monday to voice their opposition to a state takeover, insisting Detroit can solve this financial crisis on its own. They plan to ask the attorney general to intervene.
"I feel like a guy in the bank, who has had a gun stuck in his back by a robber, who says, 'Listen, I'm going to help you, but first I got to take all your money,'" said Rep. Fred Durhal. "We're going to fight him in city hall. We're going to fight him in the state Capitol. We'll fight him in the courts. We're going to fight him."
Clearly there is more to come. Detroit City Council meets at 10:00 a.m. Tuesday. We're told that they will discuss this issue, and, of course, Fox 2 will be there.
Monday, June 17 2013 5:55 PM EDT2013-06-17 21:55:56 GMT
A new search for the remains of Jimmy Hoffa is underway in northern Oakland County. Armed with a search warrant, the FBI moved in Monday morning and started digging in Oakland Township.
A new search for the remains of Jimmy Hoffa is underway in northern Oakland County. Armed with a search warrant, the FBI moved in Monday morning and started digging in Oakland Township.
Friday, June 14 2013 7:45 PM EDT2013-06-14 23:45:59 GMT
Thousands of police and fire retirees could face painful cuts to their pension and healthcare benefits because Detroit does not have the money to live up to its obligations.
Thousands of police and fire retirees could face painful cuts to their pension and healthcare benefits because Detroit does not have the money to live up to its obligations.
Friday, June 14 2013 6:31 PM EDT2013-06-14 22:31:19 GMT
Highland Park police shut down an adult bookstore where they say illegal sex was also for sale. Fox 2 talked to a former security guard about the things he witnessed.
Highland Park police shut down an adult bookstore where they say illegal sex was also for sale. Fox 2 talked to a former security guard about the things he witnessed.
Thursday, June 13 2013 8:19 PM EDT2013-06-14 00:19:03 GMT
Vandals target a popular place for children in Detroit. They broke in and damaged a recreation center on the city's east side, and it is bad timing for a local sports league.
Vandals target a popular place for children in Detroit. They broke in and damaged a recreation center on the city's east side, and it is bad timing for a local sports league.
Thursday, June 13 2013 6:51 PM EDT2013-06-13 22:51:57 GMT
Detroit's police and fire pension board makes a controversial move. The board's former attorney was indicted in a bribery scandal. They have now voted in a new attorney loosely connected to the scandal himself.
Detroit's police and fire pension board makes a controversial move. The board's former attorney was indicted in a bribery scandal involving Kwame Kilpatrick. They have now voted in a new attorney loosely connected to the scandal himself.
Wednesday, June 19 2013 11:26 PM EDT2013-06-20 03:26:37 GMT
Mitchell Young's trial got underway on Wednesday. He is accused in the murder of Robert Cipriano and the beatings of Robert's wife, Rose, and son, Sal.
Mitchell Young's trial got underway on Wednesday. He is accused in the murder of Robert Cipriano and the beatings of Robert's wife, Rose, and son, Sal.
Wednesday, June 19 2013 9:52 PM EDT2013-06-20 01:52:15 GMT
The Detroit Red Wings and city officials on Wednesday announced a $650 million plan for a new arena development for the NHL team in Detroit's downtown entertainment and sports district.
The Detroit Red Wings and city officials on Wednesday announced a $650 million plan for a new arena development for the NHL team in Detroit's downtown entertainment and sports district.
Wednesday, June 19 2013 9:39 PM EDT2013-06-20 01:39:53 GMT
The state's school superintendent and treasurer could dissolve a deficit-ridden district and send the students to nearby schools under legislation narrowly approved Wednesday by a divided Michigan Senate.
The state's school superintendent and treasurer could dissolve a deficit-ridden district and send the students to nearby schools under legislation narrowly approved Wednesday by a divided Michigan Senate.
Wednesday, June 19 2013 9:33 PM EDT2013-06-20 01:33:24 GMT
Gov. Rick Snyder on Wednesday cut short his trade trip to Israel to return home and lobby reluctant fellow Republicans to expand Medicaid to more Michigan adults...
Gov. Rick Snyder on Wednesday cut short his trade trip to Israel to return home and lobby reluctant fellow Republicans to expand Medicaid to more Michigan adults, as the clock ticked before lawmakers break for the summer.
Wednesday, June 19 2013 9:21 PM EDT2013-06-20 01:21:00 GMT
Dequindre-Emery Playlot had become grossly overgrown. George Bearid said enough is enough and began mowing on Sunday. Now several neighbors have joined the effort to clean up the park.
Dequindre-Emery Playlot had become grossly overgrown. George Bearid said enough is enough and began mowing on Sunday. Now several neighbors have joined the effort to clean up the park.
Wednesday, June 19 2013 8:03 PM EDT2013-06-20 00:03:28 GMT
"I don't blame the clerk," Mike Duggan said as he ended his mayoral bid. Two courts ruled he cannot be on the ballot because he had not lived in Detroit for a year when he filed.
"I don't blame the clerk," Mike Duggan said as he ended his mayoral bid. Two courts ruled he cannot be on the ballot because he had not lived in Detroit for a year when he filed.
Detroit City Council President Charles Pugh and Michigan Governor Rick Snyder (Credit: Fox 2 News)
