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On Friday, a Michigan Circuit Judge Rosemarie Aquilina ruled Detroit bankruptcy is unconstitutional . On Friday, a circuit court judge in Ingham County ruled that Detroit’s federal bankruptcy filing violated a part of Michigan’s constitution that protects union pensions.
Avalanche of City Debt Downgrades and Eventual Bankruptcies Coming Up; Numerous Cities Bankrupt Over Pension Promises Posted by Michael Shedlock at 12:15 PM Disclaimer: The content on this site is provided as general information only and should not be taken as investment advice. All site content, including advertisements, shall not be construed as a recommendation to buy or sell any security or financial instrument, or to participate in any particular trading or investment strategy. The ideas expressed on this site are solely the opinions of the author(s) and do not necessarily represent the opinions of sponsors or firms affiliated with the author(s)
In an inevitable, anticlimactic decision today, Detroit files for bankruptcy . Detroit became the largest US city to ever file for bankruptcy on Thursday, seeking protection from its creditors as it restructures more than $18bn in debt
Visit site: Survey on Impact of Obamacare on Corporate Hiring; Businesses Far More Pessimistic vs. March
Read the article: European Car Sales Plunge to 20-Year low
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Excerpt from: Big Miss in Retail Sales vs. Expectations; Trend Change or Another "Soft Patch"?
Follow this link: Defense Department Pleads For Money It Does not Need, Then Looks For Ways to Spend; 650,000 Defense…
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Please consider Wegmans cuts health benefits for part-time workers . Et tu, Wegmans? The Rochester-based grocer that has been continually lauded for providing health insurance to its part-time workers will no longer offer that benefit.