Detroit unions hear Orr's debt restructuring plans - New York News

Detroit unions hear Orr's debt restructuring plans

Posted: Updated:
  • Detroit unions hear Orr's debt restructuring plansMore>>

  • Let It Rip: Detroit EM's plan for city pension funds

    Let It Rip: Detroit EM's plan for city pension funds

    Thursday, June 20 2013 11:45 PM EDT2013-06-21 03:45:00 GMT
    Kevyn Orr has unveiled a plan that would dramatically change the pensions for city retirees and is starting with an investigation. DPOA President Mark Diaz, political consultant Greg Bowens and Alexis Wiley discuss.
    Kevyn Orr has unveiled a plan that would dramatically change the pensions for city retirees and is starting with an investigation. DPOA President Mark Diaz, political consultant Greg Bowens and Alexis Wiley discuss.
  • Detroit BankruptcyMore>>

  • Detroit files plan to fix debt, leave bankruptcy

    Detroit files plan to fix debt, leave bankruptcy

    Friday, February 21 2014 12:49 PM EST2014-02-21 17:49:57 GMT
    Detroit's emergency financial manager filed a plan Friday that would bring the city out of bankruptcy, providing a detailed look at what the Motor City would look like when it finally sheds its financial burdens.
    Detroit's emergency financial manager filed a plan Friday that would bring the city out of bankruptcy, providing for the first time a detailed look at what the Motor City would look like when it finally sheds its financial burdens.
  • Gov. Snyder: 'Detroit's comeback is underway'

    Gov. Snyder: 'Detroit's comeback is underway'

    Friday, February 21 2014 11:35 AM EST2014-02-21 16:35:28 GMT
    Gov. Rick Snyder issued the following statement today on the filing of a plan of adjustment by  Detroit Emergency Manager Kevyn Orr that is part of the city's restructuring.
    Gov. Rick Snyder issued the following statement today on the filing of a plan of adjustment by  Detroit Emergency Manager Kevyn Orr that is part of the city's restructuring under Chapter 9 of the U.S. Bankruptcy Code.
  • $350 million on the table for Detroit, judge needed to approve Barclay's loan

    $350 million on the table for Detroit, judge needed to approve Barclay's loan

    Wednesday, November 6 2013 3:03 PM EST2013-11-06 20:03:18 GMT
    On Tuesday, the city of Detroit asked a federal judge to approve its deal to borrow up to $350 million to help the city pay off some of its debts and to provide city services.
    On Tuesday, the city of Detroit asked a federal judge to approve its deal to borrow up to $350 million to help the city pay off some of its debts and to provide city services.
DETROIT (AP) -

Union leaders are meeting with members of Detroit emergency manager Kevyn Orr's team to hear plans to cut into health care benefits and pensions as part of city debt restructuring.

The Thursday meeting at City Hall follows a session Orr held last week where he asked Detroit's creditors and debt holders for deep concessions.

Orr has warned that without millions of dollars in concessions on bond and pension debt the city risks going into municipal bankruptcy.

Orr is a bankruptcy expert, and Michigan hired him in March to fix Detroit's finances. The city's budget deficit is approaching $380 million. Orr has said long-term debt could top $17 billion.

He also issued an order Thursday for an investigation into possible waste, fraud and corruption in the city's employee benefit programs.

  • Local NewsLocal NewsMore>>

  • Rifle seized after squirrel shooting in Milford

    Rifle seized after squirrel shooting in Milford

    Thursday, April 17 2014 8:48 AM EDT2014-04-17 12:48:12 GMT
    Connecticut State NewsConnecticut State News
    Police say they found an unregistered assault rifle and three large-capacity magazines in the home of a Milford man accused of shooting a squirrel.  James Toigo has been charged with unlawful discharge of a firearm, cruelty to an animal, reckless endangerment, breach of peace, failure to register an assault rifle and possessing large-capacity magazines.
    Police say they found an unregistered assault rifle and three large-capacity magazines in the home of a Milford man accused of shooting a squirrel.  James Toigo has been charged with unlawful discharge of a firearm, cruelty to an animal, reckless endangerment, breach of peace, failure to register an assault rifle and possessing large-capacity magazines.
  • Harlem politician Basil Paterson dead

    Harlem politician Basil Paterson dead

    Thursday, April 17 2014 8:41 AM EDT2014-04-17 12:41:03 GMT
    Basil Paterson, the father of former New York Governor David Paterson, died Wednesday night at the age of 87. The trailblazing Democratic politician from Harlem served in the state Senate, as deputy mayor of New York City, as secretary of state of New York and was appointed by the New York Senate as a commissioner of the Port Authority of NY and NJ. In 1970, he ran for lieutenant governor, the second black nominee of a major party for statewide office in New York.
    Basil Paterson, the father of former New York Governor David Paterson, died Wednesday night at the age of 87. The trailblazing Democratic politician from Harlem served in the state Senate, as deputy mayor of New York City, as secretary of state of New York and was appointed by the New York Senate as a commissioner of the Port Authority of NY and NJ. In 1970, he ran for lieutenant governor, the second black nominee of a major party for statewide office in New York.
  • Fund raises thousands for exonerated NYC man

    Fund raises thousands for exonerated NYC man

    Thursday, April 17 2014 8:20 AM EDT2014-04-17 12:20:44 GMT
    A recently exonerated New York man who spent nearly 25 years behind bars for a killing that happened while he was at Disney World is getting help from dozens of well-wishers contributing to an online fund for him. About 70 people gave a total of more than $3,400 to the campaign for Jonathan Fleming by Wednesday. Fleming was released last week after a judge dismissed the 1989 case, with Brooklyn prosecutors' assent.
    A recently exonerated New York man who spent nearly 25 years behind bars for a killing that happened while he was at Disney World is getting help from dozens of well-wishers contributing to an online fund for him. About 70 people gave a total of more than $3,400 to the campaign for Jonathan Fleming by Wednesday. Fleming was released last week after a judge dismissed the 1989 case, with Brooklyn prosecutors' assent.
Powered by WorldNow
Didn't find what you were looking for?
All content © Copyright 2000 - 2014 Fox Television Stations, Inc. and Worldnow. All Rights Reserved.
Privacy Policy | Terms of Service | Ad Choices