Friday, June 14, 2013

Detroit’s Creditors Asked to Accept Pennies on the Dollar

DETROIT — An emergency manager who was sent to reverse the fortunes of this financially troubled city asked some of its creditors on Friday to accept pennies on the dollar as he laid out his plan for tackling Detroit’s staggering debt, kick-starting negotiations that could determine whether the city is headed to bankruptcy court. 
Read the rest here.

1 comment:

lannes said...

Can't this new broom, Bobby Orr, see what will happen in Detroit after he shores up its financial
collapse? It will just revert to its old ways because the same inept
people will still be there!