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VIDEO: Here Come The Municipal Bankruptcies
Youtube ^ | 4/17/2012 | Youtube

Posted on 04/17/2012 9:43:36 AM PDT by MichCapCon

Allen Park went "all in" on Michigan's film subsidy program. When the deal collapsed, the mid-sized city got stuck with the bill. Adding in skyrocketing public employee legacy costs leaves a recipe for fiscal disaster.

(Excerpt) Read more at michigancapitolconfidential.com ...


TOPICS: Business/Economy; Government
KEYWORDS: city; michigan

1 posted on 04/17/2012 9:43:46 AM PDT by MichCapCon
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To: Springman; Sioux-san; 70th Division; JPG; PGalt; DuncanWaring

And in Jackson they want money to repave a bike path. Its no wonder the cities are struggling.

If anyone wants on the Michigan Cap Con ping list let me know.


2 posted on 04/17/2012 10:02:14 AM PDT by cripplecreek (What does it profit a man if he gains the whole world but loses his soul?)
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To: MichCapCon; cripplecreek

Thanks for the post; ping. Very interesting. Allen Park was always considered a very nice upscale community when I lived downriver (Lincoln Park).


3 posted on 04/17/2012 12:44:14 PM PDT by PGalt
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To: cripplecreek

The one local radio show I listen to doesn’t think Allen Park will will get an EM. The State only takes over black cities, not white.


4 posted on 04/17/2012 1:26:46 PM PDT by Springman (Rest In Peace YaYa123, Bahbah, and Just Lori.)
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To: Springman

Interesting!
It seems the folks there were duped into the project that never got off the ground.

These could be Agenda 21 plans - trying to put the communities in debt.

Executive order dated March 15 about cities
http://theintelhub.com/2012/03/21/obama-executive-order-the-takeover-of-municipalities-drowning-in-debt/


5 posted on 04/17/2012 6:20:46 PM PDT by Whenifhow
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To: Whenifhow

Well Allen Park got duped by a con man promising thousands of jobs in an empty plant and they got stuck with the bill.

With out the State picking up 40% of the bill, these movie studios were just money flushed down the toilet.


6 posted on 04/17/2012 7:35:44 PM PDT by Springman (Rest In Peace YaYa123, Bahbah, and Just Lori.)
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