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    Detroit Files For Bankruptcy

    APS Jul 18, 2013

    1. APS

      APS Administrator Staff Member

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      BBC
       
    2. Phuturism

      Phuturism New Chatter

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      Detroit has been in a very slow nose dive since the loss of the automotive industry there. Add into the fact just about any business has been moving out of the city has left large parts of the city to rot away. A shame really as the city did have that tough as nails attitude but now its just a ghost of its former self.
       
    3. HAL WARD

      HAL WARD Getting There

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      700 thousand left from a high of 2 million tax payers, the Union retirement for city services and outright mismanagement through the years was the undoing of Detroit. It started 40 years ago when the Unions started making demands on wages in the auto industry, GM and others pretty much said ok fine if that's what you want, they started gradually moving assets and other facilities to places like Mexico. That once mighty work force was squashed. I can remember working in the 70's and asking myself how are people going to afford to buy these new cars if they aren't working, well I was right. However since that time our economy has changed from a labor force to a more knowledgeable one that works in fields other than these mainstream union jobs with the advent of the computer age. Unions are going to die as a result of all the stealing and mismanagement. There are more cities that would like to file bankruptcy and the reason is exactly the same as Detroit, California is another one of those mismanaged states that spend more than they take in, they have refused to be like the rest of the country and allow oil drilling so the residents pay out their noses for gas, I have very little sympathy for those that have consistently voted the same bunch of losers back in term after term, you would think they might learn something, but obviously not. Socialism does not work in America, it wan't structured or founded on the principals. You cannot continue to pay out all your tax base to feed people who don't work or want to work, you cannot provide health care services for people who are not legal residents and citizens, it's called Math 101.
       
    4. Grungie

      Grungie Raging Alcoholic

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      Detroit's kind of been going downhill for awhile, it has the second highest crime rate in the entire country. It's kind of a slowly decaying city.
       
    5. Demon_skeith

      Demon_skeith Chataholic

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      15bn? As in billion? damn, I herd a bunch of it's people left the city as well. Hate to live there.
       
    6. Shortie861

      Shortie861 Administrator Staff Member

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      It is quite shocking when you see things like this where a city has to file for bankruptcy. It shows just how bad things really are getting when it comes to all things financial.
       
    7. HAL WARD

      HAL WARD Getting There

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      This is more about unions getting into municipal affairs and demanding outrageous salaries and benefits for simple services and labor. The people that are retired in Detroit number around 20,000 and they will be lucky to get 10 per cent of the package that was given to them by union wheeling and dealing, now they will get a normal pension like the rest of non union America. Detroit has been the most corrupt city there is as far as city finances and management, kickbacks, payoffs and outright stealing. It really has little to do with normal activities that most municipalities deal with on a day to day basis. This town Detroit has been ran by the democrats for 50 years, what you see is the result of that, the attitude it's their money and we'll take it has now come to an end, most of us here in the USA say good riddance, the next will be a few Californian cities same situation and mismanagement, spend more than they take in cause we can. Los Angeles is already considering filing bankruptcy and the reasons are once again the very same. The taxpayers of the country are mostly located in the heartlands of the USA, they are not going to allow their tax dollars to bail out these thieves, this has nothing to do with the citizenry of these cities in trouble, outside of their voting for morons, which of course is legal.
       
    8. Grungie

      Grungie Raging Alcoholic

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      The financial problems kind of cause these big companies to move elsewhere, so when all of the major job holders in your city are gone, the people are screwed. It's "ignorable" for small towns, but with a city the size of Detroit, it's going to make a big impact.