[Iron Munro]

Too bad the labor unions didn’t show the same concerns when Obama stole the equity from General Motors stockholders, bondholders, creditors, independant dealers, etc.

[Born to Conserve]

The secret of being a good mechanics is tightening bolts until they break, then backing off a quarter turn.

Unions take this literally.

[Gaffer]

Must negotiate with creditors....hmmmm doesn’t necessarily have to include ALL creditors does it? I bet if there were a million $1 creditors, they wouldn’t, would they?

Stands to reason that if the state appointed manager negotiated with enough creditors to whom the city owes SUBSTANTIAL CURRENT REAL DEBT, versus FUTURE pension liability debt, they’d get a clearer picture of the immediate problem. A problem that likely told the manager there wasn’t even a way out of the immediate debt. Screw the UNION pension.

[cripplecreek]

There comes a point where not even the courts will help them. Meanwhile the EM of Pontiac announced that the city was ready to return to public hands 2 years early.(Full time city workforce cut from 500 to 20)

Pontiac begins transition out of financial emergency



Michigan legislative action thread

[umgud]

There is still no money even if they win this challenge.

[yldstrk]

the unions are a good part of the reason for the bankruptcy

[cripplecreek]

Meanwhile the fire department has stopped telling 911 operators how many ambulances are available so operators can't tell callers how long it will be.

LeDuff: Detroit Fire Department not reporting available ambulances

[Gay State Conservative]

With the obvious exception of uniformed members of the Armed Forces,military retirees and those getting *ordinary* Social Security payments (the original kind) it's pretty obvious that most of those getting any kind of government check are part of one huge multi trillion dollar scam that was set up and is managed and supported by the Rat Party!

[LibLieSlayer]

Been tried and already failed... deetroit is dead.

[bert]

Lawyers....... they are money grubbing straw grabbers.

They milk the unions of irreplaceable funds while holding visions of the sugarplum past dancing before their eyes.

[relictele]

Nothing in any constitution guards against going broke!

In unions dere is strength!

[PapaBear3625]

But as a midnight deadline for filing objections to the bankruptcy passed, Detroit's bondholders were conspicuously absent from the long list of unions, pension funds and individual creditors lining up to argue against bankruptcy.

The bondholders know that standard bankruptcy is the only path that will get them even pennies on the dollar. The unions want to grab ALL the assets and cash for themselves, as with GM.