Tag Archives: Bankrupt

Tractors in Detroit? Farmland To Replace Urban Decay In The Motor City

Bankrupt and hemorrhaging population, the city of Detroit is banking on greener pastures to lead its rebirth.

A private company is snapping up 150 acres on the Motor City's East End -- property where more than 1,000 homes once formed a gritty neighborhood -- and turning it into what is being billed as the world's largest urban farm. Hantz Woodlands plans to start by planting trees, but hopes to raise crops and even livestock in the future, right in the midst of the once-proud city...

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Federal Bailouts For Cities Would Reward Bad Behavior

Bailouts for Cities?

Advocates for cash-strapped municipalities want Washington to clean up their mess.

Detroit's July bankruptcy filing, prompted in part by its huge worker-retirement debts, has led to calls for a federal bailout of the beleaguered city — and also, by extension, of retirement debt in other fiscally squeezed municipalities. From the New York Times to blogs and union-issued position papers, bailout supporters argue that the citizens and workers of Detroit and other troubled places aren't to blame for their retirement debts...

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