Detroit to pay 30 cents on dollar for $285M debt

Big news for Detroit. The city will only have to pay $85M of a $285 million debt from UBS and Bank of America Merril Lynch. This debt came from from “swaps”, or pension-debt… Continue reading →

Detroit investing $150 million into new tech for the city

Under the city’s proposal to emerge from bankruptcy, Detroit would spend nearly $150 million during the next 10 years to make up for decades of a lack of investment in technology. http://bitly.com/1ca1tNy