Bankruptcy

In a presentation to creditors delivered yesterday, Detroit emergency manager Kevyn Orr outlined a last-ditch effort to save the city from bankruptcy. Many creditors would have to agree to receive less than 10 cents on the dollar.

June 15, 2013 - Detroit Free Press

The Detroit Zoo's 'healthy, breeding female giraffe'? A classic Ford XD Cobra prototype? Belle Isle? Mark Stryker and John Gallagher look at some of the city-owned assets that could be sold to help pay off the city's monstrous debt.

June 3, 2013 - Detroit Free Press

The need to put Detroit under emergency management wasn't the result of a single failed strategy, but the culmination of decades of poor leadership, bad decisions, and "crossed fingers," report Monica Davey and Mary Williams Walsh.

March 12, 2013 - The New York Times

The recent bankruptcy of the California city of Mammoth Lakes - brought on by a $43 million court decision in favor of a developer - is an extreme example of the cost of land use disputes. But it's indicative of a widespread problem in the state.

September 10, 2012 - Los Angeles Times

Nate Berg takes a look at the seven biggest cities to have filed for bankruptcy in the last two decades, the largest of which officially broke the bank as of yesterday.

June 28, 2012 - The Atlantic Cities

Since declaring bankruptcy in 2008, the climb out of the budgetary depths hasn't been an easy one for the city of Vallejo, California. But, as it springs back to life, could Vallejo become a model for how to run a city in an age of austerity?

May 24, 2012 - The Washington Post

Many voices have raised concerns over municipalities defaulting on bonds during these tough economic times. But as this op-ed argues, those concerns are misguided.

March 22, 2011 - The New York Times

Budget-troubled Jefferson County, Alabama -- once thought to be on the brink of the largest municipal bankruptcy in U.S. history -- is moving forward with plans to clean up its finances.

March 11, 2011 - Reuters

The tiny city of Hamtramck, Michigan, is edging closer to bankruptcy, as budget woes grow.

December 28, 2010 - The New York Times

As the economic downturn has caused many states and municipalities to borrow large amounts of money, some worry there may be a glut of them going bankrupt.

October 18, 2010 - Governing

The economic recession is pushing many municipalities towards declaring bankruptcy.

February 22, 2010 - The Wall Street Journal

Municipal bonds are being defaulted on left and right. But the news sounds worse than it is. Few of those defaults are by cities -- for now.

August 13, 2009 - Governing

Budget issues are causing major issues for a handful of states. Neal Peirce argues these budget woes are a sign that states are making the wrong investments and that they idea of a state may be out of date.

July 12, 2009 - Citiwire

President Barack Obama has announced a $75 billion plan to help counteract home foreclosures -- a move that aims to allow more than 9 million Americans to refinance their troubled mortgages.

February 18, 2009 - The New York Times

The northern California city of Vallejo has declared bankruptcy, becoming one of few cities and the largest in the state to do so. Other struggling cities are watching closely to see if the strategy helps to save the city.

May 13, 2008 - The San Francisco Chronicle

Thousands of stores across the country face closure as the credit crisis curtails consumer spending, and chain retailers file for bankruptcy.

April 16, 2008 - The New York Times