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  1. #1
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    Detroit bankrupt

    So we have an entire city going bankrupt, I have no idea what that means, supposedly the largest city to ever go bankrupt in the U.S.A. Is there somebody that has a finance\economy background that can go ahead and explain to me as to what's going on? Also how can a city with pretty much all the American auto manufacturers who got bailed out 3 years or so ago, be not enough to support that city? I was under the impression that it would keep the city going but here we are, barely 3 years out and there's not enough money. I don't get it.

    Also, this was out in the 70's, I guess it's still valid:

    Click here to enlarge

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    1 out of 1 members liked this post. Reputation: Yes | No
    How does a city go bankrupt? Is it the same deal as if an individual files for bankruptcy
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  3. #3
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    but.. Obama said that the auto industry was doing great and he rejuvenated the economy.




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    The auto bail out had little to do with the collapse of the pyramid scheme that kept Detroit afloat few the last few decades. Accumulating new liabilities to resolve old debts without enough income or working capital to maintain current operations will train wreck any organization after a given amount of time. The fact that they openly got away with it for so long is what is surprising. On second thought, we've doing same on a national level for years.....

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    Click here to enlarge Originally Posted by sr20seb Click here to enlarge
    So we have an entire city going bankrupt, I have no idea what that means, supposedly the largest city to ever go bankrupt in the U.S.A. Is there somebody that has a finance\economy background that can go ahead and explain to me as to what's going on? Also how can a city with pretty much all the American auto manufacturers who got bailed out 3 years or so ago, be not enough to support that city? I was under the impression that it would keep the city going but here we are, barely 3 years out and there's not enough money. I don't get it.

    Also, this was out in the 70's, I guess it's still valid:

    http://www.youtube.com/watch?v=bVDDYQlmq0w
    What movie is that? That was awesome lol.

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    Click here to enlarge Originally Posted by E90SoFlo Click here to enlarge
    but.. Obama said that the auto industry was doing great and he rejuvenated the economy.
    He also said he would get the troops home right away, fix the economy, create jobs, bring the country together, and groom my dog.

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    Click here to enlarge Originally Posted by Sticky Click here to enlarge
    He also said he would get the troops home right away, fix the economy, create jobs, bring the country together, and groom my dog.
    And he said he would setup a chatroom

    I kid, I kid haha
    Click here to enlarge

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    Click here to enlarge Originally Posted by Scorpion Click here to enlarge
    And he said he would setup a chatroom

    I kid, I kid haha
    I need a bailout first.

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    Click here to enlarge Originally Posted by Sticky Click here to enlarge
    What movie is that? That was awesome lol.
    Kentucky Fried Movie.
    Click here to enlarge

  10. #10
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    Click here to enlarge Originally Posted by sr20seb Click here to enlarge
    Kentucky Fried Movie.
    I gotta watch it.

  11. #11
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    Click here to enlarge Originally Posted by sr20seb Click here to enlarge
    Kentucky Fried Movie.
    Classic movie!

    Auto industry $80 billion in bailouts, Detroit owes $18 billion in debt. Its not about the money, so it could be about control.

    Detroit has been sagging for along time, like since the 50's.

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    I was considering going to the Detroit Auto Show for the M4 debut but I don't know now. I mean, pictures make Detroit seem like a wasteland.

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    Don't let the pictures fool you. Like any city, if you plan side excursions, know where you are and who you are with and you'll be fine. The city's decay is not a step change, but a continuing situation over many years and the auto show and its attendees have survived. The bankruptcy hype, I think, is cover for a behind the scenes battle!

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    These jobs used to be concentrated in southern Michigan with Detroit as its hub.

    http://www.autoblog.com/2013/07/24/f...total-of-3000/

    In short, the city and the state failed to evolve ..... for more than 60 years and counting.

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    NO Not detroit lmao.
    Click here to enlarge
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    Click here to enlarge Originally Posted by Sticky Click here to enlarge
    I was considering going to the Detroit Auto Show for the M4 debut but I don't know now. I mean, pictures make Detroit seem like a wasteland.
    I went there two years ago for the auto show, stayed at the Marriott at the Renaissance Center. To me it just looked liked any other downtown in a major city. Lets be real, downtown LA doesn't look that great either.

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    how..? i think this will answer a lot of your questions.. chernobyl or detroit.. if i didnt already know, i coudnt tell

    start buying land Click here to enlarge

    http://www.youtube.com/watch?v=1hhJ_49leBw#at=97

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    Remind of Robocop as OCP Corp starts running the city and it's services.

    Click here to enlarge

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    Click here to enlarge Originally Posted by Rodzilla Click here to enlarge
    Remind of Robocop as OCP Corp starts running the city and it's services.

    Click here to enlarge
    We can only hope this happens. That and Nuke becomes a real drug.

    It would actually be really interesting to see how a private business would run a city especially taking over a city in Detroit's financial situation. Especially if it had to obey the laws and US constitution. He it would be equally interesting if they didn't have to follow the laws and US constitution. I assume what would happen 1st is instantly all/most social programs are cut and the population is put to work.

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    Click here to enlarge Originally Posted by BlackJetE90OC Click here to enlarge
    I went there two years ago for the auto show, stayed at the Marriott at the Renaissance Center. To me it just looked liked any other downtown in a major city. Lets be real, downtown LA doesn't look that great either.
    Downtown LA has been cleaned up but a good point. Thing is with downtown LA, you go a few minutes and you're in Hollywood then Beverly Hills/Santa Monica. You do that in Chicago and you're in an even worse area.

  21. #21
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    Click here to enlarge Originally Posted by Rodzilla Click here to enlarge
    Remind of Robocop as OCP Corp starts running the city and it's services.

    Click here to enlarge
    I'm not against this as long as the software is open source Click here to enlarge

  22. #22
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    Click here to enlarge Originally Posted by Torgus Click here to enlarge
    It would actually be really interesting to see how a private business would run a city especially taking over a city in Detroit's financial situation.
    Efficiently... much more efficiently. Especially if the company executives could be fired right away and weren't in place until whenever an election comes up and were not chosen based on political contributions but by direct votes from shares.

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    Click here to enlarge Originally Posted by Sticky Click here to enlarge
    You do that in Chicago and you're in an even worse area.
    I think you meant Detroit. Chicago's downtown is great. Outside of downtown Chi town are some great palaces to play.

    Click here to enlarge Originally Posted by Torgus Click here to enlarge
    It would actually be really interesting to see how a private business would run a city especially taking over a city in Detroit's financial situation. Especially if it had to obey the laws and US constitution. He it would be equally interesting if they didn't have to follow the laws and US constitution. I assume what would happen 1st is instantly all/most social programs are cut and the population is put to work.
    Motivated by profit, it probably wouldn't be called Detroit for long. Lots of cash in naming rights.

    Looking around the world at places with no laws or constitution isn't encouraging.

  24. #24
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    Click here to enlarge Originally Posted by yage202 Click here to enlarge
    I think you meant Detroit. Chicago's downtown is great. Outside of downtown Chi town are some great palaces to play.
    I don't know the area I thought the issue was when you went out of downtown?

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