In response to:

Report: Yeah, Detroit Might Be Forced To Declare Bankruptcy

D G Wrote: Feb 20, 2013 11:59 AM
Mulberry ..... Your thoughts are appreciated, but the UAW drove up compensation of workers so they no longer are competitive in the global economy. No management can overcome the excessive compensation. ...... UAW spent several decades with 3-year contracts. Every three years, they selected a strike target company. They would make excessive demands, and go on strike if the target company did not comply. They would stay on strike against the target until they got what they wanted. Next the other 2 companies would adopt the pattern agreement.

What happens when a city government tries to tax, spend, and borrow its way to prosperity? Hint: it goes broke:

A state-appointed review team has determined Detroit is in a financial emergency, paving the way for Republican Gov. Rick Snyder to appoint an emergency manager who would need to come up with a new plan to get the city out of its fiscal crisis.

The team released its findings Tuesday, saying in a report to Snyder that "no satisfactory plan exists to resolve a serious financial problem."

The review team pointed to the city's ongoing cash crisis, which have threatened...