Friday, June 14 2013 10:25 PM EDT2013-06-15 02:25:13 GMT
A team led by a state-appointed emergency manager said Friday that Detroit is defaulting on about $2.5 billion in unsecured debt and is asking creditors to take about 10 cents on the dollar of what the city owes them.
A team led by a state-appointed emergency manager said Friday that Detroit is defaulting on about $2.5 billion in unsecured debt and is asking creditors to take about 10 cents on the dollar of what the city owes them.
Friday, May 24 2013 12:07 PM EDT2013-05-24 16:07:12 GMT
Officials say the Detroit Institute of Arts' collection could be sold to help satisfy creditors if the financially troubled city of Detroit seeks bankruptcy protection.
Officials say the Detroit Institute of Arts' collection could be sold to help satisfy creditors if the financially troubled city of Detroit seeks bankruptcy protection.
Thursday, March 28 2013 11:56 AM EDT2013-03-28 15:56:34 GMT
Michigan's tougher emergency manager law takes effect Thursday. However, its opponents are seeking to block it in federal court, saying the measure is unconstitutional.
Michigan's tougher emergency manager law takes effect Thursday. However, its opponents are seeking to block it in federal court, saying the measure is unconstitutional.
Tuesday, March 26 2013 11:22 PM EDT2013-03-27 03:22:01 GMT
On the day Kevyn Orr takes over the management of the city, Fox 2's Charlie LeDuff goes back 40 years for a unique look back at the time Detroit elected its first African-American mayor.
On the day Kevyn Orr takes over the management of the city, effectively removing Mayor Dave Bing and the Detroit City Council from power, Fox 2's Charlie LeDuff goes back 40 years for a unique look back at the time Detroit elected its first African-American mayor.
Monday, March 25 2013 11:14 PM EDT2013-03-26 03:14:42 GMT
As Detroit's new EFM takes the reigns, young adults with a vested interest in the city are concerned about the future. However, the governor wants them to know they can be part of the change and the solution.
As Detroit's new emergency financial manager takes the reigns, young adults with a vested interest in the city are concerned about the future. However, the governor wants them to know they can be part of the change and the solution.
Monday, March 25 2013 9:18 PM EDT2013-03-26 01:18:49 GMT
Kevyn Orr, Detroit's new financial emergency manager, met with several city leaders during his first day on the job, but not everyone is thrilled with his arrival.
Kevyn Orr, Detroit's new financial emergency manager, met with several city leaders during his first day on the job, but not everyone is thrilled with his arrival.
Monday, March 25 2013 7:23 PM EDT2013-03-25 23:23:58 GMT
Detroit's EMS and police departments are getting a much needed shot in the arm from the corporate world. There will be new ambulances in the next four to five months and 100 new patrol cars within 60 to 90 days.
Detroit's EMS and police departments are getting a much needed shot in the arm from the corporate world. There will be new ambulances in the next four to five months and 100 new patrol cars within 60 to 90 days.
Monday, March 25 2013 12:56 PM EDT2013-03-25 16:56:46 GMT
Fox 2's Maurielle Lue reports protestors are still gathering, waving flags and signs against Detroit's new E.F.M. (Emergency Financial Manager).
Fox 2's Maurielle Lue reports protestors are still gathering, waving flags and signs against Detroit's new E.F.M. (Emergency Financial Manager). Despite the snow and chilly temperatures, the protest was strong for more than half an hour.
Protesters plan to gather downtown Thursday evening to show their opposition to an expected emergency manager in the city.
FOX 2's Roop Raj reports protesters plan to gather at 211 Fort St. at 6 p.m. for a candlelight vigil.
On Wednesday, Detroit Mayor Dave Bing said he doesn't support an effort by the City Council to appeal Governor Rick Snyder's declaration that the city is in a financial emergency with no good plan to turn things around.
Bing said Wednesday afternoon that whether people like it or not "an emergency manager is coming to Detroit."
Detroit is facing a $327 million budget deficit.
Snyder agreed Friday with a review team's report on Detroit's financial emergency. He prescheduled a hearing date for Tuesday in case his decision was appealed.
The City Council voted 7-1 Wednesday afternoon to appeal that decision.
Bing says he "decided the fighting must stop now" and things must move forward to improve the lives of city residents.
Tuesday, May 21 2013 6:21 PM EDT2013-05-21 22:21:52 GMT
As people struggle to pick up the pieces in the areas of Oklahoma ravaged by tornadoes, we've learned some relief will be coming from right here in Michigan.
As people struggle to pick up the pieces in the areas of Oklahoma ravaged by tornadoes, we've learned some relief will be coming from right here in Michigan.
Tuesday, June 18 2013 11:08 AM EDT2013-06-18 15:08:18 GMT
Chrysler on Tuesday is expected to file papers explaining its refusal to recall 2.7 million older Jeep SUVs that are at risk of catching fire in rear-end collisions.
In one of the biggest-ever showdowns between an automaker and the government, Chrysler on Tuesday is expected to file papers explaining its refusal to recall 2.7 million older Jeep SUVs that are at risk of catching fire in rear-end collisions.
Monday, June 17 2013 5:55 PM EDT2013-06-17 21:55:56 GMT
A new search for the remains of Jimmy Hoffa is underway in northern Oakland County. Armed with a search warrant, the FBI moved in Monday morning and started digging in Oakland Township.
A new search for the remains of Jimmy Hoffa is underway in northern Oakland County. Armed with a search warrant, the FBI moved in Monday morning and started digging in Oakland Township.
Friday, June 14 2013 10:25 PM EDT2013-06-15 02:25:13 GMT
A team led by a state-appointed emergency manager said Friday that Detroit is defaulting on about $2.5 billion in unsecured debt and is asking creditors to take about 10 cents on the dollar of what the city owes them.
A team led by a state-appointed emergency manager said Friday that Detroit is defaulting on about $2.5 billion in unsecured debt and is asking creditors to take about 10 cents on the dollar of what the city owes them.
Wednesday, June 19 2013 11:26 PM EDT2013-06-20 03:26:37 GMT
Mitchell Young's trial got underway on Wednesday. He is accused in the murder of Robert Cipriano and the beatings of Robert's wife, Rose, and son, Sal.
Mitchell Young's trial got underway on Wednesday. He is accused in the murder of Robert Cipriano and the beatings of Robert's wife, Rose, and son, Sal.
Wednesday, June 19 2013 9:52 PM EDT2013-06-20 01:52:15 GMT
The Detroit Red Wings and city officials on Wednesday announced a $650 million plan for a new arena development for the NHL team in Detroit's downtown entertainment and sports district.
The Detroit Red Wings and city officials on Wednesday announced a $650 million plan for a new arena development for the NHL team in Detroit's downtown entertainment and sports district.
Wednesday, June 19 2013 9:39 PM EDT2013-06-20 01:39:53 GMT
The state's school superintendent and treasurer could dissolve a deficit-ridden district and send the students to nearby schools under legislation narrowly approved Wednesday by a divided Michigan Senate.
The state's school superintendent and treasurer could dissolve a deficit-ridden district and send the students to nearby schools under legislation narrowly approved Wednesday by a divided Michigan Senate.
Wednesday, June 19 2013 9:33 PM EDT2013-06-20 01:33:24 GMT
Gov. Rick Snyder on Wednesday cut short his trade trip to Israel to return home and lobby reluctant fellow Republicans to expand Medicaid to more Michigan adults...
Gov. Rick Snyder on Wednesday cut short his trade trip to Israel to return home and lobby reluctant fellow Republicans to expand Medicaid to more Michigan adults, as the clock ticked before lawmakers break for the summer.
Wednesday, June 19 2013 9:21 PM EDT2013-06-20 01:21:00 GMT
Dequindre-Emery Playlot had become grossly overgrown. George Bearid said enough is enough and began mowing on Sunday. Now several neighbors have joined the effort to clean up the park.
Dequindre-Emery Playlot had become grossly overgrown. George Bearid said enough is enough and began mowing on Sunday. Now several neighbors have joined the effort to clean up the park.
Wednesday, June 19 2013 8:03 PM EDT2013-06-20 00:03:28 GMT
"I don't blame the clerk," Mike Duggan said as he ended his mayoral bid. Two courts ruled he cannot be on the ballot because he had not lived in Detroit for a year when he filed.
"I don't blame the clerk," Mike Duggan said as he ended his mayoral bid. Two courts ruled he cannot be on the ballot because he had not lived in Detroit for a year when he filed.
