July 20, 2013 |
Detroit filed the largest municipal bankruptcy in the nation's history Thursday, marking a new low in a long decline that has left the U.S. automaking capital bleeding residents and revenue, while rendering city services a mess. The city, which was the nation's fourth largest in the 1950s with nearly two million inhabitants, has seen its population plummet to 700,000 as residents fled increasing crime and deteriorating basic services, taking their tax dollars with them. As Detroit faced an estimated debt of $19 billion, the state in March appointed an emergency manager vested with extraordinary powers to rewrite contracts and liquidate some of the city's most valuable assets.
July 13, 2013
By Charles Lane Liberal economists have a ready response to conservatives who fret that U.S. debt might spiral out of control, à la Southern Europe: "America is not Greece. " It's true. Greece has much more public debt than does the United States, relative to economic output. Unlike Greece's euro-denominated obligations, U.S. debt is in U.S. dollars. The U.S. economy is far more competitive than Greece's tourism-and-tomatoes operation. Certain parts of the United States, however, are like Greece.
July 12, 2013 |
CHAUNCEY BILLUPS wanted to stay with the Detroit Pistons for the rest of his career. Now, the team that traded him away wants him back. Pistons president of basketball operations Joe Dumars confirmed yesterday that Billups and the team have agreed to terms on a contract. Billups is getting a 2-year deal for $2.5 million each season. The first year is guaranteed. Billups, a five-time All-Star, turns 37 in September. "I never wanted to leave here. Everyone knows that," he said on Jan. 26, 2011, after making a flurry of three-pointers late in a game to help Denver win in Detroit.
July 12, 2013
Matthew Stafford signed a $53 million, three-year extension with the Detroit Lions on Wednesday to stay under contract for $76.5 million over the next five seasons. The deal pays the 25-year-old quarterback another $41.5 million in guarantees. Linebacker Kaluka Maiava was charged with assaulting two men during a brawl at a Maui bar, days after signing with the Oakland Raiders. Maiava, 27, and his brother Ilima Maiava , 30, were charged with third-degree assault. NHL: Bruins goalie Tuukka Rask signed an eight-year contract to stay with Boston.
June 12, 2013 |
Based on the regular season, the Chicago Blackhawks are favored to oust the surging Boston Bruins and win their second Stanley Cup in the last four years. Then again, as the Los Angeles Kings showed last year, the regular season doesn't mean much in the Stanley Cup playoffs. Fact is, Boston - which had 15 fewer points than Chicago in the lockout-shortened, 48-game regular season - has been playing with a relaxed but focused attitude ever since it made the most remarkable Game 7 recovery in NHL history, way back in Round 1 against Toronto.
May 30, 2013 |
JUSTIN WILLIAMS scored two goals in the second period, and the defending Stanley Cup champion Kings advanced to the Western Conference finals with a 2-1 victory over the San Jose Sharks in Game 7 last night in Los Angeles. Jonathan Quick made 25 saves as the Kings finished off the agonizingly even series with their 14th consecutive home victory over the past 2 months, including seven straight in the postseason. The home team won all seven games in the thrilling all-California series, and the fifth-seeded Kings barely rode their home-ice advantage to victory in their first potential elimination game in the last 2 years.
May 21, 2013 |
THE YOUNG Detroit Red Wings have made the mighty Chicago Blackhawks look vulnerable, beating them two straight times to gain an advantage in their last playoff matchup as Western Conference rivals. Gustav Nyquist and Drew Miller scored 31 seconds apart midway through the second period and Pavel Datsyuk restored a two-goal lead in the third to help Detroit beat visiting Chicago, 3-1, last night and take a 2-1 lead in the second-round series. As good as the Red Wings have looked - scoring six straight goals to earn momentum in the series - their hard-driving coach isn't ready to celebrate.
May 13, 2013 |
DETROIT - Detroit may be broke but it will soon have a first-rate motor pool, featuring 23 new ambulances and a fleet of 100 new police cars. Some city parks also are getting tender loving care. New fruit trees and shrubs have been planted, and mowing crews are beginning to make the rounds to keep the green spaces tidy. One of the surprising things about Detroit's descent toward insolvency - so dire that a state-appointed emergency manager recently took over - is that public services haven't collapsed as completely as some might have expected.
April 16, 2013 |
The schedule said that Game No. 81 for the 76ers was to be played against the Detroit Pistons, so that's what the teams had to do. A combined 38 games under .500 to begin the contest, both teams played with the tenacity of a Sunday morning walk with the dog. But just as the game had to be played, someone had to win, and the Pistons did that, 109-101. The loss dropped the Sixers to 33-48. Still, Sixers coach Doug Collins, who was coaching his next to last game with the team, has been proud of the effort his club has given of late.
March 26, 2013 |
DETROIT - Detroit's new emergency manager offered a "sincere olive branch" Monday to local leaders who fought against creating his job, even as a crowd of protesters rallied outside City Hall during his first day of trying to revive the city's beleaguered finances. Kevyn Orr, a bankruptcy lawyer and turnaround specialist who represented automaker Chrysler LLC during its successful restructuring, met with Mayor Dave Bing and at least two City Council members Monday as he began an 18-month term as emergency manager.