by Jeremy Loudenback After a year in which stories about cities facing bankruptcy from Detroit to San Bernadino were widely reported, it’s no secret that the fiscal health of many local governments is still on shaky ground. According to Janney Montgomery Scott analyst Tom Kozlik, the financial outlook for U.S. local Read more…
by Jeremy Loudenback The judge in Detroit’s bankruptcy case is already having a big impact on how other cities on the brink of bankruptcy deal with employee public pensions. According to a ruling by Judge Steven Rhodes last week, Detroit’s public pensions will not protected by state laws during bankruptcy proceedings, a Read more…
by Jeremy Loudenback In July, the city of Detroit found itself in trouble again, attracting the headlines that have earned it an ugly reputation for urban and social dysfunction. After he was appointed by Michigan Gov. Rick Snyder, Kevyn D. Orr, the city’s non elected emergency manager, decided to file for Chapter Read more…