Long-suffering Detroit finally turns to bankruptcy

Return To Article
Add a comment
  • 4601 Salt Lake City, UT
    July 20, 2013 9:14 a.m.

    Bringing Mitt Romney into the discussion on the miserable failure of Detroit and it's corrupt politicians is the ultimate liberal fantasy. Little wonder the current left wing regime has trouble facing reality. They are seldom correct, but never in doubt.

  • Mister J Salt Lake City, UT
    July 19, 2013 1:18 p.m.

    to Lost in DC

    We are finally headed in the right direction just need some traction but that is near impossible w/ an Ivy Leaguer as POTUS.

    Maybe, I'm still irritated as my portfolio is now where it was 5 yrs ago (sarcastic thanks to Wall ST).

    I should know better to use sarcasm w/ conservatives. I keep violating Einstein's definition of insanity.

    As I've seen elsewhere, "Conservatives. Always right; NEVER correct."

    p.s. You totally whiffed on Hank's Analogy about Iacocca.

  • 2 bits Cottonwood Heights, UT
    July 19, 2013 12:18 p.m.

    I hope we can resist the temptation to turn this unfortunate situation into yet another partisan bickering match.

    I hope this serves as a wake-up call to all metropolises with huge unfunded liabilities the city fathers just kept kicking down the road, hoping they are retired and gone before the growth curve turns they run out of taxing or borrowing power and have to pay all the retirement benefits they promised to keep getting re-elected.

    We can't just keep promising huge benefits we can't afford to pay just to get the Unions off our back, or in order to stay in office.

    This will sound partisan, but I don't think it is. Since Detroit is in need of a "turn-around" and Mitt Romney is supposed to be the king of business turn-arounds... it would be interesting if he would take on Detroit as a project (like he did the SLC Olympics). And if he could turn them around... I suspect the people who hate him now... would hate him still.

    Partisan venom and party rhetoric runs deeper than anything today.

  • lost in DC West Jordan, UT
    July 19, 2013 11:36 a.m.

    Utah is conservative, so we DON’T have paved roads? Educated kids? No utilities? Really?? Liberals, with their designs to put unions and their own jobs first, HAVE been the problem.

    Hank Pym,
    Chrysler received not ONE PENNY from the feds in the 1980s. the feds guaranteed Chrysler's loans, but since Chrysler paid them off, the feds did not have to honor that guarantee. Not one penny from the treasury was used to bail-out Chrysler in the 1980s under Iacocca

    LDS? lib
    GM and Chrysler DID fail. Didn’t you read about their bankruptcies? Or did msnbc just no tell you?

  • lost in DC West Jordan, UT
    July 19, 2013 11:34 a.m.

    Have YOU looked at the jobs reports?

    7.6% unemployment is NOTHING to crow about.

    MORE people are working part time or in temp jobs than ever before.

    Employment is 2 million BELOW its peak

    Income is 2.8% LOWER across all income brackets.

    Yeah, tell the long-term unemployed, the under-employed, the part timers, the temps, just how wonderful the jobs reports are.

    From the DN yesterday, “wages have fallen the most in low paying jobs”

    “lower-wage American workers have accounted for the lion's share of the jobs created since the 2007-2009 Great Recession”

    “the greatest number of jobs being added to the economy are in the same exact sectors where wages have decreased the most.”

    “mid-wage jobs accounted for 60 percent of the jobs lost in the recession, they made up only 22 percent of the recovery. In contrast, low-wage jobs were 21 percent of recession losses, but comprised 58 percent of recovery growth.”

    So do you REALLY want to crow about BO’s abysmal jobs results?

  • LDS Liberal Farmington, UT
    July 19, 2013 10:28 a.m.

    And if Mitt Romney had won the election,
    this would be happening all over America.

    Remember what Mitt Romney said about the Auto Industry --
    Let them fail!

    BTW --
    I don't suppose America outsourcing and off-shoring manufacturing had ANYTHING to do with this.

    George Romney must be spinning in his grave.

  • Hank Pym SLC, UT
    July 19, 2013 9:42 a.m.

    to KG 9:08

    By that logic, Detroit's economy should have been corrected with the Iacocca Chrysler bailouts?

    to Ernest T. Bass

    Shame on Ralph Nader for throwing a monkey wrench into the beauty that is unrestrained capitalism.

    Not to mention, can you imagine how messed up the environment would be? Unchecked, American corporations could make what the Soviets did the Aral Sea look like childs play.

  • KG South Jordan, UT
    July 19, 2013 9:25 a.m.

    Right, Ernest. The liberals did so well saving Detroit! Maybe Detroit would be better off if it was like the rest of the US.

    So let's make government bigger, redistribute wealth, and see how that works. It worked really well for the USSR. And while we're at it, let's cut off the invisible hand, increase the red tape on developing out own natural resources, and stay out of all international affairs, especially in the Middle East. $10 per gallon for gas won't be so bad. I bet we can all get government aid to pay for it anyway.

    And to top it off, we'll strand our people in embassies, and when they are attacked, we'll call off those who might protect them, and leave them to be slaughtered.

  • Ernest T. Bass Bountiful, UT
    July 19, 2013 9:14 a.m.

    Its all the liberal's fault. What with their desire to educate kids, pave roads, provide utilities and whatnot. If only the republicans were in charge, Detroit could be like the rest of the US, with the top 1% owning 40% of everything, no middle class buying power. Imagine the auto industry, we could finally make cars without all those annoying safety regulations. Imagine the profits then!

  • KG South Jordan, UT
    July 19, 2013 9:08 a.m.

    re: Mister J

    Yes, I understand that the bailouts were for the auto industry. But, if the auto industry bailouts had worked, Detroit likely wouldn't be in the hole it is in now. My opinion is that if the auto industry had gone through a structured bankruptcy, the GM would be a lot better off, billions of taxpayer money wouldn't have been mis-allocated, and Detroit wouldn't be in such a rut.

    Of course I can see the surveys, reports, consumer confidence, etc. But those improvements are late, and not as significant as I believe they would have been if the Obama blunders had not taken place. Romney was/is better suited to get the economy back to prosperity, and not just minor improvement over the lows of the recession (which, btw, any improvement is washed out by his latest blunder, the health care law). I credit the improvement in the economy more to the market correcting itself, and less to Obama's ploys.

  • Mister J Salt Lake City, UT
    July 19, 2013 8:52 a.m.

    re: KG

    "We can see how well those bailouts did to save Detroit. Now, the city is going the bankruptcy route,"

    The bailouts were for the Auto industry.

    "Hopefully the nation's voters will wake up and realize that Obama and his administration don't have the business savvy to lead the country back to prosperity."

    Have you looked at the stock market, jobs report, consumer confidence, & recent JD Power surveys (GM & Ford are on the way back)?

    "Oh what might have been."

    With Romney @ 1600, it would have been continued Carte Blanche for Wall St and an unneeded war with Iran. If you are going to imply something, at least throw out hypotheticals.

  • KG South Jordan, UT
    July 19, 2013 8:11 a.m.

    Interesting... so if I recall, Romney said the bailouts were a bad idea, and if he had been in charge, he would have structured a bankruptcy to better prepare the auto industry to move forward. Dems thought that was a horrible idea. We can see how well those bailouts did to save Detroit. Now, the city is going the bankruptcy route, and the article quotes an official as saying "we may have to take a couple steps backward to move forward." Hopefully the nation's voters will wake up and realize that Obama and his administration don't have the business savvy to lead the country back to prosperity. Oh what might have been.

  • Mountanman Hayden, ID
    July 19, 2013 7:30 a.m.

    The fruits of socialism!

  • DN Subscriber Cottonwood Heights, UT
    July 19, 2013 6:49 a.m.

    Detroit was once a great and prosperous city.

    Then, they elected liberal Democrats who ran it into the ground, spending more money than they had, making promises about pensions and other give away programs that they knew (or should have known) they could not possibly fulfill, tolerated criminal activity, accepted failing teachers and schools, and encouraged the lifestyle of dependency.

    Exactly the same things the liberal Democrats are doing to the country, but a nation cannot just declare bankruptcy.

    Will we learn any lessons from Detroit in time to save the country?