Detroit's Emergency Manager To Meet With Creditors
Creditors, bond holders and unions are meeting with Detroit's state-appointed emergency manager Friday to hear his plan to keep the city out of Chapter 9 bankruptcy.
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Creditors, bond holders and unions are meeting with Detroit's state-appointed emergency manager Friday to hear his plan to keep the city out of Chapter 9 bankruptcy.
Kevyn Orr made the comment at a public meeting to discuss his plans for staving off bankruptcy and reducing $15 billion in unfunded municipal obligations.
Detroit's emergency manager is hoping to avoid bankruptcy for the city by trying to settle debts with creditors for just pennies on the dollar.
At the policy conference on Mackinac Island, Detroit Mayor Dave Bing was asked about the threat of bankruptcy that looms over the city.
Electric sports car maker Fisker Automotive has laid off about 160 people at its California headquarters.
The Entertainment Book popular gift and, since 1962, a way for metro Detroiters to save some cash.
In less than a month, Michigan Gov. Rick Snyder will decide whether the state will take over Detroit's broken finances and send in someone to oversee the city's fiscal recovery.
Projections show Detroit's cash on hand dropping as low as $3.6 million by Dec. 21. It stood at $53 million on Friday.
American Suzuki Motor says it decided to exit the car business because of slow sales, unfavorable foreign exchange rates and high costs due to U.S. regulatory requirements
Energy Conversion Devices Inc. (OTC: ENERQ.PK) and its wholly-owned subsidiary United Solar Ovonic LLC last week announced that the United States Bankruptcy Court for the Eastern District of Michigan has confirmed its Second Amended Joint Plan of Liquidation.
John L. Smith always believed real estate development was the safest investment of all, saying "you may not make money, but you won't lose money."
A bank is extending a deadline on a bond transaction that will let the city of Detroit get most of June's revenue sharing payment from the state.
The Detroit News and Detroit Free Press report Monday that Ayanna Kilpatrick claims to owe $345,000 and have monthly expenses of over $3,900.
The sale of United Solar as a going concern won't happen. Its parent company, Energy Conversion Devices, Monday announced that the assets related to the United Solar Ovonic LLC thin, flexible solar panel business will be sold at auction June 26.
It still owes the government just under $12 billion from a $17.2 billion dollar loan it got during the financial meltdown of 2008 and '09.
Hostess Brands Inc. has told Michigan officials that it could lay off all of its 381 employees at 20 locations in the state if the company liquidates as part of its bankruptcy restructuring.
"Detroit ... couldn't survive without a manger," Patterson told attendees at an Chamber of Commerce breakfast at Oakland University on Wednesday.
Citing high debt and legacy costs, Energy Conversion Devices Inc. and its solar panel manufacturing subsidiary United Solar Ovonic LLC filed for Chapter 11 bankruptcy protection in U.S. Bankruptcy Court for the Eastern District of Michigan.
A Farmington Hills-based company that leads the nation in so-called medi-spa services and has more than 100 locations across the nation has filed for bankruptcy protection.
Creditors have their hands out as the Borders Group Inc. filed for bankruptcy and now, the line is getting longer.
The Wall Street Journal is reporting that the private equity firm that tentatively agreed to purchase bankrupt Ann Arbor-based Borders Group is having second thoughts.
Gov. Rick Snyder tells reporters in Lansing that he is not going to let Detroit or any other Michigan city fall into bankruptcy.
Pontiac's Emergency Manager has written a letter to Executive Brooks Patterson asking for a meeting to discuss the possibilities of merging the city with the county.
Marchionne was reminded of a 2008 op-ed column in which Romney urged the federal government to force automakers into a "managed bankruptcy."
Now that the emergency financial manager bill has passed, how many schools should expect to have the new law applied to their districts?
Noah Syl Johnson is accused of asking the clerk, "Hey man – where your Quran at? Whose side you on? Christian, or Muslim?"
Microsoft said it's investigating an issue impacting access to Microsoft 365 and its Teams app.
Just in time for the Thanksgiving holiday, AAA reported Monday that gas prices in Michigan have dropped 12 cents since last week.
A Michigan State University engineering professor and undergraduate student have designed and produced a 3D-printed helmet earhole insert that helps to drown out crowd noise for some players on the school's football team.
Airports and highways are expected to be jam-packed during Thanksgiving week, a holiday period likely to end in another record day for air travel in the U.S.
Noah Syl Johnson is accused of asking the clerk, "Hey man – where your Quran at? Whose side you on? Christian, or Muslim?"
Two children are dead and three other people are injured after a fire in Canton Township Sunday evening.
Microsoft said it's investigating an issue impacting access to Microsoft 365 and its Teams app.
Just in time for the Thanksgiving holiday, AAA reported Monday that gas prices in Michigan have dropped 12 cents since last week.
A 71-year-old Oakland County woman has been convicted for her role in a health care kickback scheme that costed Medicare $1.4 million, according to the U.S. Department of Justice.
Local UAW members claim Stellantis is to blame for roughly 4,000 layoffs this fall, not poor market conditions.
Ford said Wednesday most of the job cuts would come in Germany and would be carried out in consultation with employee representatives.
On average, a 15-gallon tank of gas will cost Michiganders $46, which is $12 less than what they were paying from 2023's highest price in August.
General Motors announced Friday it was laying off nearly 1,000 salaried workers worldwide.
General Motors is laying off about 1,000 workers worldwide, shedding costs as it tries to compete in a crowded global automobile market.
Chuck Woolery was inducted into the American TV Game Show Hall of Fame in 2007 and earned a daytime Emmy nomination in 1978.
Cynthia Erivo, Ariana Grande, AMC and fans react to the debate over in-theater singing during "Wicked."
The 10-day event will feature Racing Day presented by the Detroit Grand Prix on Jan. 17, 2025.
Downtown Detroit will begin to be a lot brighter just in time for the Christmas season.
Tickets go on sale to the general public via Ticketmaster on Tuesday, Nov. 26.
Microsoft said it's investigating an issue impacting access to Microsoft 365 and its Teams app.
Airports and highways are expected to be jam-packed during Thanksgiving week, a holiday period likely to end in another record day for air travel in the U.S.
Chuck Woolery was inducted into the American TV Game Show Hall of Fame in 2007 and earned a daytime Emmy nomination in 1978.
Tortilla strips sold in grocery stores across the U.S. have been recalled due to concerns about an undeclared wheat allergen.
Democrats say they're concerned or scared Trump will threaten their rights, but fewer than half feel motivated to oppose him.
The school district introduced therapy dogs two years ago, and things have gone so well that it decided to add six more dogs.
Lattes and other espresso-based drinks may not be available at some McDonald's restaurants due to a glitch with coffee machines.
CDC data shows rates of Mycoplasma pneumoniae have surged in babies.
A WARN notice says that an agreement between the hospital and the Secretary of Health and Human Services would be terminated because the hospital was not in compliance with some of the Medicare Conditions of Participation.
A number of homes in parts of Metro Detroit are seeing elevated levels of lead in their drinking water, according to officials.
A Michigan State University engineering professor and undergraduate student have designed and produced a 3D-printed helmet earhole insert that helps to drown out crowd noise for some players on the school's football team.
The Detroit Lions beat the Indianapolis Colts 24-6 on Sunday, extending their winning streak to nine games.
Franz Wagner had 30 points, nine rebounds and eight assists, and the Orlando Magic beat the Detroit Pistons 111-100 for their eighth win in nine games.
A goal by the Bruins' Brad Marchand midway through the third period proved to be enough for Boston to beat the Detroit Red Wings 2-1 Saturday night.
Kalel Mullings ran for 92 yards and a career-high three touchdowns, leading Michigan to a 50-6 win over Northwestern on Saturday to make the defending national champions eligible for a bowl.
Hackel, the former Macomb County Sheriff, said the results of the 2024 contest are giving him more confidence than ever that he has the right stuff and resumé to be governor.
How did the Democrats lose so many races at once?
In Michigan, the Democrats have control of the governor's mansion and both state houses.
In Michigan, the Democrats now have control of the governor's mansion and both state houses.
Both party chairs also talked about the ground game as each looks for independent voters and those who haven't voted in a while they hope to inspire to show up on Nov. 5.
Essence Atkins and Tetona Jackson talk about the new CBS sitcom "Poppa's House," which airs Mondays at 8:30 p.m. on CBS Detroit and Paramount+.
Cornerstone Community Financial Credit Union has tips for not breaking your budget on Black Friday.
Just in time for the holiday season, Biggby Coffee has several festive mocktails.
Kick off your holiday shopping in Wyandotte for Small Business Saturday.
The sight was a common one for Andrew Kolpacki. For many a Sunday, he would watch NFL games on TV and see quarterbacks putting their hands on their helmets, desperately trying to hear the play call from the sideline or booth as tens of thousands of fans screamed at the tops of their lungs.