Detroit emergency manager Kevyn Orr’s road to fiscal recovery for the insolvent city may hit potholes with its largest union, whose leaders haven’t met with him and say he should look elsewhere to cut costs.
Detroit’s schools, one-third their former size from the loss of more than 100,000 students in the past decade, are leading an effort to rejuvenate the city by casting themselves as neighborhood anchors that help parents as well as pupils.
Lorraine Brown, former president of the mortgage document processor DocX LLC, was sentenced to at least 40 months in prison on a racketeering charge in a robo- signing case, Michigan Attorney General Bill Schuette said.
Treasury Inflation-Protected Securities tumbled after a record $18 billion auction of the notes attracted the lowest demand in more than four years with the economy showing few signs of rising consumer prices.
In most American cities, a limestone home with a large front turret and paneled library would have a waiting list of buyers at $135,000. In Detroit’s Rosedale neighborhood, it almost didn’t sell at all.