Developing Affordable Housing Ecosystems World Wide
By:David A. Smith In fulfillment of the least clairvoyant prediction I’ve made or am likely to make, Detroit’s governor Rick Snyder has announced that he will appoint an ‘emergency financial manager’ to take out executive responsibility in Detroit, and when that happens, it will in effect place the Motor City into receivership. As reported [...]
By:David A. Smith When a game is crooked, don’t play it – but if you are forced to play it, change the rules. That’s what states are doing with respect to their insolvent cities, as the combination of political autonomy and fiscal irresponsibility has led consistently and inescapably to bankruptcy or its [...]
[Continued from yesterday's Part 1.] By: David A. Smith In yesterday’s post, using stories from The Economist and a followup in Reuters, April 4, 2012), we saw that Detroit was on the brink of either running out of cash (by early May), or going into municipal bankruptcy, or accepting aid and financing assistance [...]
By: David A. Smith For more than a hundred years, Detroit has been associated with the internal combustion engine, to the point the city’s name became as synonymous with an industry as today’s Hollywood or Silicon Valley are to theirs. We’ve taken some losses lately But the Motor City’s job engine has [...]
By:David A. Smith [Continued from yesterday's Part 3 and the preceding Part 2 and Part 1.] As we’ve seen in the first three parts, when a charlatan gains control of a valuable, regulated asset, he can cause no end of trouble, in all the ways that Frank McCourt has already done, including put the entity [...]
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