Obama monitoring Detroit's bankruptcy - New York News

Obama monitoring Detroit's bankruptcy

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    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'

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    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

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    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.

WASHINGTON (AP) -- The White House says it's standing by Detroit after it became the biggest city in America to file for bankruptcy.
 
Spokeswoman Amy Brundage says President Barack Obama and senior advisers are monitoring the situation.
 
Brundage adds that while Michigan leaders and the city's creditors understand their responsibility to solve Detroit's financial problems, the White House will continue to partner with Detroit as it tries to recover and maintain its status as one of America's great cities.
 
Thursday's filing in federal bankruptcy court was approved by Gov. Rick Snyder. The move puts the city on an uncertain path that could lead to layoffs of city workers, the sale of city assets, higher fees and cuts in such services as trash and snow removal.

  • Local NewsLocal NewsMore>>

  • Port Authority could rescind $1 NJ Transit lease

    Port Authority could rescind $1 NJ Transit lease

    Wednesday, April 23 2014 2:57 PM EDT2014-04-23 18:57:07 GMT
    NJ TransitNJ Transit
    The Port Authority of New York and New Jersey is holding its monthly board meeting, two days after it heard from a panel on what it needs to do to improve its accountability and efficiency and restore public trust.
    The Port Authority of New York and New Jersey could rescind a $1-a-year lease for a park-and-ride lot near the Lincoln Tunnel. The agency's chief of real estate and development told a committee Wednesday that it should change a deal made in 2012. Published reports have alleged that former Port Authority chairman David Samson voted to approve the lease even though his law firm did business with New Jersey Transit, which operates the park-and-ride lot.
  • Toddler falls from 3-story window, not hurt

    Toddler falls from 3-story window, not hurt

    Wednesday, April 23 2014 2:04 PM EDT2014-04-23 18:04:22 GMT
    New York City police say a 2-year-old boy fell out of a third-story window overnight but was not hurt.
    New York City police say a 2-year-old boy fell out of a third-story window overnight but was not hurt.
  • Spy device Tweets private conversations

    Spy device Tweets private conversations

    Wednesday, April 23 2014 12:41 PM EDT2014-04-23 16:41:49 GMT
    A tiny new spy device aims to automatically transcribe and Tweet overheard conversations. It's called Conversnitch.  Brian House and Kyle McDonald are behind the eavesdropping device.  They say it bridges the gap between (presumed) private physical space and public space online.
    A tiny new spy device aims to automatically transcribe and Tweet overheard conversations. It's called Conversnitch.  Brian House and Kyle McDonald are behind the eavesdropping device.  They say it bridges the gap between (presumed) private physical space and public space online.
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