The city’s former Financial Emergency Manager, Kevyn Orr, who resigned his post yesterday, was the most important person in the largest-ever municipal bankruptcy, leading the city through a fairly speedy Chapter 9 that shaved $7 billion of its $18 billion in debt. Continue reading
In a show of solidarity for a city struggling through bankruptcy, Detroit’s three automakers announced Monday a pledge of $26 million to go toward a deal that would help save the integrity of the city’s renowned art museum and alleviate pension reductions for thousands of city workers.
At the 2014 North American International Auto Show, the spotlight shines on sports cars and trucks, rather than alternative fuel vehicles. Hari Sreenivasan talks to Dan Neil of The Wall Street Journal and Karl Brauer of Kelley Blue Book about the state of the industry and how gas mileage improvements are shaping trends. Continue reading