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Kevyn Orr: Classic Car Collection Sale Report Was ‘Wild Speculation’

By Joseph Lichterman DETROIT, June 21 (Reuters) - A Detroit official has dismissed as "lots of wild speculation" a story that Emergency Manager Kevyn Orr is considering the sale of the city's little-known collection of classic cars. "There is no proposed plan to sell any asset owned by the city," Bill Nowling, Orr's spokesman, said in an email on Thursday. That has not stopped heated debate over the prospect that Orr could approve the sale of assets, including works from the Detroit Institute of Arts, to satisfy the city's crushing debt obligations and avoid bankruptcy. ...

Rolling Stone: ‘Diego Rivera Is Under Attack In Detroit’

Rolling Stone: Diego Rivera is under attack in Detroit. It's not the first threat to the late Mexican artist's famed murals, which depict the city's steel factories with a not-quite-subtle anti-capitalist bent. In 1933, union workers had to guard the then-new exhibit from the followers of a fanatical local preacher. But today the mural series is facing a different challenge: It is one of many assets that the city could potentially sell off to pay back billions of dollars in long-term debts to Wall Street creditors. Read the whole story at Rolling Stone Read more https://www.huffingtonpost.com/2013/06/22/detroits-debt-crisis-ever_n_3483005.html?utm_hp_ref=detroit ...

Detroit Is Doing Something That’s Never Been Tried Before

   (Reuters) - Detroit's default and debt restructuring plan are precedent-setting in the U.S. municipal market, Moody's Investors Service said on Monday, because...

Detroit Mayor Dave Bing Will Not Run For Re-election

    Mayor Dave Bing announced that he will not seek re-election in Detroit on Tuesday at the Charles...

Fired…to Mayor?

Now the plot thickens. First Krystal Crittendon upset an array of state officials and Mayor Dave Bing, which eventually led...

Detroit’s defining moment is 2013

The specter of an emergency manager continues to hang over Detroit like the sword of Damocles. The hope of a hotly contested mayoral...

State Money Will Be Withheld In Case City Take-Over Necessary

DETROIT (WWJ) -Detroit’s Financial Advisory Board says it seriously doubts that the city will be able to get through its cash...

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