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Hamtramck seeks state permission to file for bankruptcy (it begins)
Zero Hedge ^ | 11/13/2010 | Mika Wilkerson and Paul Eagan

Posted on 11/16/2010 3:25:39 PM PST by frithguild

The city of Hamtramck, desperate for cash, has asked the state for permission to take an unprecedented step: filing for bankruptcy. City Manager Bill Cooper said the city of roughly 20,000 people is staring at a $3 million deficit, fueled by a dispute with Detroit. Unless Hamtramck files for bankruptcy, it won't be able to pay its nearly 100 employees or 153 retirees, he said.

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


TOPICS: Business/Economy; US: Michigan
KEYWORDS: bankruptcy; detroit; hamtramck; municipalbankruptcy
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To: aces

You got my vote!

Wouldn’t that be funny if they sold off all the parks and they were all developed into thriving metropolises and all the big cities turned back to nature? Bear and bison roaming new york city, chicago, detroit, boston...12million people megapolis in yosemite park.


21 posted on 11/16/2010 5:36:14 PM PST by mamelukesabre (Si Vis Pacem Para Bellum (If you want peace prepare for war))
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To: mamelukesabre

We need to push it..let our reps know we are friggin serious, we need real action..that same ole we will be free of this in 20 years won’t cut it, we won’t be a country....


22 posted on 11/16/2010 5:36:59 PM PST by aces
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To: sharkhawk

Put a fence around it. We’re going to have to start doing this alot, it seems. Stock up on food and ammo.


23 posted on 11/16/2010 5:50:31 PM PST by imjimbo (The constitution SHOULD be our "gun permit")
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To: mamelukesabre

why not..This time the things we should focus on as a society is food production, medicine, etc...no debt period..then watch the world rot..and come to the same conclusions..


24 posted on 11/16/2010 6:07:34 PM PST by aces
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To: frithguild
A $3M deficit with a population of 20k is $150/person. How much debt does the city have?
25 posted on 11/16/2010 6:48:12 PM PST by zeugma (Ad Majorem Dei Gloriam)
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To: frithguild

I’m still waiting for a new freeway sign that says
“Hamtramck Left”...


26 posted on 11/18/2010 2:45:19 AM PST by equaviator ("There's a (datum) plane on the horizon coming in...see it?")
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