For a lot of people, Jamie Dimon will forever be linked to the mortgage crisis that hit Detroit as hard as any city.
But there was no mention of that at yesterday's announcement, of course. Instead, there was a plated lunch - chicken and salad, with cupcakes - an uplifting video, and a standing ovation led by Michigan's governor, Rick Snyder.
Michigan lawmakers are debating a $200 million aid package for Detroit as the city moves through bankruptcy. Until now, state lawmakers haven’t been willing to help it with anything that could be called a “bailout.”
While Governor Rick Snyder supports the current deal, many of his fellow Republicans appear to be balking, especially after a threat of political retribution from the Koch Brothers political network.
Detroit officials have been doing lots of talking in Lansing for the past week, lobbying hard for the state aid package.
There could be a first vote tomorrow in the Legislature on an almost $200 million deal to aid the city of Detroit. Mayor Mike Duggan was one of those who testified prior to the historic vote. Duggan says, overall, he supports the plan.
“I want you to be comfortable we’re not going to be coming back in two years, four years, six years – that we’re going to solve this once and when we do solve it once, you’re going to be proud of how progress is made,” Duggan told the House Committee on Detroit’s Restructuring and Michigan’s Future.
Governor Snyder hopes the State House will make progress toward approving the ‘Grand Bargain’ this week.
Critics complain it’s not fair for the rest of the state to pay for Detroit’s financial missteps. Supporters say restoring Detroit to financial health is important to all of Michigan.Credit Steve Carmody / Michigan RadioEdit | Remove
The City of Detroit might be going through bankruptcy, but the commerce of Detroit is growing in some areas. A new business that will open this summer is the latest in a fast-growing trend.
Tucked away in the Eastern Market on Riopelle Street is a nondescript building. Go through the squeaky, jail-like door and you'll see one of Michigan’s newest whiskey, gin, and vodka distillers, the Detroit City Distillery.
Right now, though, it’s mostly a dusty construction site. There are no whiskey barrels here- yet. They’re stored at a licensed facility. There’s no copper pot still- yet. It’s being manufactured in Germany right now.
But they do have a classic wooden bar. Michael Forsyth and his partners found it in a vacant storefront in downtown Detroit and bought it.
New polling out just this morning sheds some light on how folks who live outside of Detroit feel about this possible settlement, in which money would go from Lansing to Detroit.
As part of the Detroit Journalism Cooperative, Michigan Radio's Lester Graham and Sarah Cwiek have been poring over the results of our Epic MRA poll. They joined us to discuss how people feel about the state giving money to help Detroit's recovery.
A new poll shows Michigan voters outside of Detroit approve using state money to support the so-called “Grand Bargain” to bolster City of Detroit retirees’ pensions and protect the Detroit Institute of Arts' collection.
(See DJC partner Bridge Magazine's coverage of the poll here.)
It found almost half of voters outside the city of Detroit support the state government contributing $350 million to help solve some of the sticky issues of the bankruptcy. Forty-nine percent favor the contribution, 34 percent oppose it.
"When Rivera was here, he was regarded as one of the most important artists in the world of western art at that time," [DIA Director Graham] Beal said.
Edsel Ford paid for the murals, which wound up costing just less than $21,000 at the time, according to the DIA.
Rivera, seen as one of the greatest muralists of his time, was a very important influence on the artists who became abstract expressionists, Beal said.
And Kahlo's development as an artist took place when she was here in Detroit. Renowned as not only a portrait artist but as a symbol of feminist strength, Kahlo's works range in style from folk art to surrealist.
In its press release, the DIA says most of the works Kahlo created in Detroit will be shown for the first time in the city.
The show is scheduled to run from March 15, 2015, to July 12, 2015.
In all, 80 artworks will be featured in the exhibition, including Rivera's preparatory drawings for the Detroit Industry murals.
Kevyn Orr has wrapped up his two days of meeting with lawmakers in Lansing. His goal was to win support for some $350 million as the state's share in the so-called grand bargain.
We shift our focus to money not from the state capitol, but the nation's capitol.
Republicans, even some Democrats, are dead-set against the idea of a federal bailout for Detroit. GOP Senator David Vitter of Louisiana tried and failed last fall to get a law passed to prevent federal money from ever going to the city.
But are the tides changing?
The Obama Administration and Michigan officials are now in talks to give Detroit $100 million federal dollars for blight remediation, and just last week Treasury Secretary Jack Lew visited Detroit.
Detroit Free Press Washington, D.C. reporter Todd Spangler joined us.
DETROIT (AP) - A committee representing Detroit retirees has agreed to endorse the city's plan to cut pensions in bankruptcy. The committee is supporting deals struck last week that would cut the pensions of general retirees by 4.5 percent and eliminate cost-of-living payments. Police officers and firefighters would see a cut only in their annual inflation allowance. Detroit also wants to recover certain generous annuity payments made since 2003.
As we get together with our families to celebrate the holidays, we often think about those who are no longer with us. For many, a trip to a cemetery to visit loved ones is easy, but for others, it’s impossible.
For families with relatives buried in the Beth Olem cemetery in Detroit, they can’t go pay their respects.
The cemetery is hidden within GM’s Poletown plant, and is only open to the public two days every year: the Sunday before Passover and Rosh Hashanah.
People are able to visit the cemetery if they go on a private tour offered by the Michigan Jewish Historical Society. We heard from some of the visitors today.