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The City of Detroit has filed for Bankruptcy

Discussion in 'Off-topic Zone' started by ABQCOWBOY, Jul 18, 2013.

  1. ABQCOWBOY

    ABQCOWBOY Moderator Staff Member

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    Motor City Files for Bankruptcy

    Detroit filed for the largest municipal bankruptcy in U.S. history Thursday after steep population and tax base declines sent it tumbling toward insolvency.

    The filing by a state-appointed emergency manager means that if the bankruptcy filing is approved, city assets could be liquidated to satisfy demands for payment.

    Click on this link to read the entire story:
    http://www.foxnews.com/
  2. Supercowboy1986

    Supercowboy1986 Active Member

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    Wow i didnt think a city could file for bankruptcy. Crazy.
  3. BigDGarciaFan

    BigDGarciaFan Member

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    will that effect Wolverine home games(games r always packed) and the NHL Winter Classic(schedule for new years day 2014)?
  4. joseephuss

    joseephuss Well-Known Member

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    I doubt it. Detroit has been struggling for years and it hasn't impacted the Wolverine home games.

    If you have money it may be time to buy land in downtown Detroit. You can get it cheap. Unfortunately, I don't think it will be worth much until decades from now, so you may have to sit on it a while.

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