@ VST: That money would allow Detroit to make current payments while working on
a permanent solution - so yes, it is more than enough to prevent the
bankruptcy.Additionally, if Michigan is prevented from short-selling
Detroit's assets - and were made to make up the difference on the assets it
has already sold for a fraction of their value - than even more would be in
place to prevent the bankruptcy.
Who says ridiculous pensions aren't available in the private sector? I read
where management walks away from companies with tens of millions too often.
There are excesses in the private and the public sector.Pensions for
the most part have been earned and should be honored where possible. In Detroit
it may not be possible.There is talk that Detroit doesn't want
to sell their billion dollar plus art collection. Of course for them not to sell
it in bankrupsy would be wrong. No one should hang on to art rather than pay
what they owe.
The low information left has scrambled to find a way to blame everyone but
Detroit and it's irresponsible politicians. Somehow MSNBC and the left wing
will find a way to blame Bush. What would they do without good ol' W? The
first step in solving the problems in Detroit is admitting the cause and the
comments here indicate that sticking their heads deeper in the sand is their
More willful ignorance from the right.
@ VST: WXYZ Channel 7 local ABC affiliate - google "heart of money debate
between Detroit and the state" - the story is from a year ago, but the issue
has not been resolved. The story talks about changes to the state's
revenue sharing act for tax proceeds and how much was promised to Detroit that
they have not received.
To "Ultra Bob" fortunately the Utah Constitution, section 14 does not
allow for the state, counties, or cities to get into too much debt. You should
give the Utah Constitution a read, and see how else Utah protects itself from
becoming another Detroit.
Right now I am involved in the support of 4 separate families of my kin. Our
ability to help these people comes from the savings we put away before
retirement for our retirement. At the rate of use we will probably be broke in
2 to 3 years. Which of our families should cities emulate? One of
the articles about Detroit spoke about the Detroit Institute for Arts.
Creditors are wanting the city’s art collection to be considered in the
recovery effort. The art collection is said to be worth about $2,000,000,000.00
(2 billion). Should we wonder just how much of the 18 billion dollar bankruptcy
belongs to the Arts, and all the other non-government activities that rob the
taxpayer. When bankruptcy comes to Utah will our leaders blame the
employees and their pay or will they remember the overbuild and under utilized
public transit, the zoo, the Broadway theatre, the Arts, and all the scams they
used to rob the taxpayer.
To those of you blaming Walmart for "using the welfare programs" so that
they can pay their employees less, you are totally wrong.The walmart
employees are using the welfare programs so that they don't have to improve
themselves.Why get an actual job skill that would get them higher
paying jobs, when they can work Walmart and get welfare? Where is the incentive
to go take classes in welding, nursing, automotive repair, or become an
apprentice if you can work at Walmart and collect benefits from the
government?The problem isn't Walmart paying minimum wage for
jobs that take no skill, the problem is people with no skills wanting to say
No one could afford to work at Walmart without food stamps and Medicaid and rent
subsidies. We are ALL paying so that Walmart can stay in business and make the
Waltons the richest family in the solar system. The idiots who rejoice at low
Walmart prices don't realize they are paying a VERY high price in terms of
social costs. Personally, I couldn't be paid to walk into a Walmart, even
though I'm subsidizing them through my taxes just like everybody else.
Thanks, Maudine for bringing some sanity to this discussion. Mayor Bing is
doing a fantastic job, but corruption in state government is killing him.
Actually, the Detroit bankruptcy is a manufactured (in other words not real)
crisis created by the Republican Governor of Michigan who is selling bits and
pieces of Detroit off to his buddies at a fraction of their value and who has
been pushing for private management of public assets even though the voters
voted against that. Additionally, the state of Michigan owes more
than enough money to Detroit for Detroit to pay their bills, but, again, in an
effort to get private control of public assets, collection of that money is
being ignored or mismanaged. Yes, Detroit has problems - but nothing
in this letter is pertinent to real life.
Maverick,you mean it was the car company execs that were running the city,
not the elected officials?The car company execs signed all the deals
with the city's unions? Really?you think it's fair to pay
someone for 40-50 years (20 years working, 20-30 years retirement) for only 20
years' service?One can only draw those conclusions by listening
solely to msnbc. Is 43% a majority yet?
Prices are higher for food, gas and other stuff in Nevada because of Pension
costs? Seriously? Try using facts next time - prices are higher in Nevada
because it is in the middle of nowhere. All fuel has to be either trucked in or
piped in over very long distances. Likewise for food and all other consumables.
Property taxes are less than Utah, but it is true - our sales tax is higher -
but only because we don't pay a state income tax. Nevada also suffers -
and even more so than Utah - from the Federal Govt owning all of the land,
making it non-taxable to support our schools.
Why is Wal-Mart successful in the marketplace when they pay minimum wages
compared to Smith's and other local business?========= Seriously?WalMart?Communist China's biggest
client?Perhaps it's because WalMart pays it's employees so
low, that Taxpayers subsides their $138 Billion quarterly earnings via
Government Food Stamps and Government Housing for it's employees?and local businesses like Smith's doesn't.
Really? Praising Walmart?For one, they are a completely different
industry than cars.Secondly, all their stuff is made in east Asia. And in
sweat shops. Does that make you feel better jim?Thirdly, and perhaps most
relevant, most Walmart employees are on food stamps. So while your bash the
government and praise Walmart please remember that Walmart is essentially
saying; "Jim, please subsidize our salaries. Because we aren't going to
pay our employees liveable wages. Please pay for our employees' food."
Walmart passes on the cost onto all of us "whether we shop there or not.
It's an ingenious plan. We all pay to subsidize walmart's existence.
And folks like you praise them.
Really? Now it's the teachers' fault that Detroit is bankrupt? Not
those at thr top who drove their car companies into the ground or over a
cliff?Once again, it's too easy to just blame unions, teachers,
and police for Detroit's problems. That's the problem when
you merely listen to fox.In reality, the problem goes much deeper
and includes *gasp* extremely poor management from private sector leadership
(you know, the infallible ones). The problems extend towards race issues,
automization, and lack of diversification. You cannot build your entire economy
based on one industry. But go ahead Jim. Blaming the unions and the
teachers on all of life's ills has always been an easy target for the GOP
rather than look at the big picture. To ahead and promote your anti-government
agenda and use these tragedies to your advantage. Lets continue to cut food
stamps so people starve, slash taxes for the rich, wage wars for oil and big
business, and keep feeding the rich what little the rest of us have.