Bankruptcy

Read All About It! NYT and Guardian Readers Sound Off On Detroit Bankruptcy

December 03, 2013, 9:17 PM

The decision of U.S. Bankruptcy Judge Steven Rhodes Tuesday that Detroit is eligible for Chapter 9 bankruptcy reverberates around the world, as numerous media outlets devote considerable space and prominence to the story.


"Ruins of Detroit" photos illustrate The New York Times lead story Wednesday. (Twitter photo by Brian Stelter)

In The New York Times, which has covered the city's financial woes with frequent stories for months, a remarkable 536 readers had commented on the paper's website by 10:30 p.m. Tuesday -- a total that reached 760 Wednesday morning.  "Detroit Ruling On Bankruptcy Lifts Pension Protections," proclaims The Times' headline on a Page One lead story focusing on the ruling's implications for other U.S. cities and states.

The Times' page-dominant display is accompanied in print editions by three photos from “The Ruins of Detroit” by Yves Marchand and Romain Meffre. 

In the London-based Guardian, reporter Dominic Rushe wrote: "A federal judge announced on Tuesday that Detroit is eligible for bankruptcy protection – the first time in US history that a major city has been declared bust." A relative paltry 65 readers left a comment, but the reactions range across the political spectrum, even though the Guardian is generally regarded as a left-leaning journal.

The Guardian has somewhat of an intellectual reputation, compared to say, the Free Press, News and Deadline Detroit, but then there is Guardian reader whose screen name is Jerry1962, who wrote: "Anyone who has been to Detroit, lately knows that the people there are barely civil, and that they've been living like Mad Max, for decades."

What follows are samples from reader comments in two of the leading papers in the English-speaking world.

From the New York Times:

Heather Remoff Arlington, Mass.

Heather Remoff, Arlington, Mass.

Detroit has an asset -- the site value of the land within city limits -- that is largely overlooked. How about a creative land grant in which those losing pensions are offered title to land in Detroit instead? And if one really wants to see Detroit turn around fast, make such grants come with a guarantee that "Pension Landholders" will never be charged a property tax on any improvements they make to the site. 

M F C, Detroit

I'm really tired of this "Arm Chair Quarterbacking" I'm seeing here from posters who don't live in the city.
I do, and I've watched what happened to it over the last 50 years.

Scapegoat unions, or politicians ( of the opposite party that you belong to) all you want.
What happened in Detroit is happening all across the country.
GM used to be the largest employer in the US in the 70's.

Now it's Walmart.

Stacy Manhattan

Elderly city retirees, many of whom already live on almost nothing, will pay dearly for a situation not of their own making. Bear in mind that many of these old people are not eligible for Social Security under the terms of their pension plans. In a just society, this would be deemed scandalous and unthinkable. In 21st-century America, it is just the way we do business.

get a clue

Guess I'll be wagging my finger at you guys in a few years...

jprichva. Boca Raton, Fla.

The union-bashing is predictable, knee-jerk nonsense. This has nothing to do with unions demanding too much; the average pension---which will be reduced---is $1000 a month. Do all you smug conservatives think you could live on that? These people spent a lifetime in civil service jobs, knowing that they were trading higher earnings for the security of a pension. And now you willingly throw them and their pension under the bus. Why should anyone believe the empty promises of conservatives? Ever?

Kevin. Bronx, NY

GM got a bailout, Chrylser got two bailouts, the entire U.S. financial sector got a bailout. It seems to me that the city of Detroit should declare itself a private corporation and get a bailout, too!

E. P. Eklund, Montclair, NJ

This is what the last fifty years of trade agreements made with Mexico, China, and other countries results in. And Obama still wants to fast-track another round of trade agreements. Isn't the GLOBALIZATION juggernaut great?

ShowMe, Missouri

Pensions for little people can be reduced, but the pay of executives are protected by contracts. Why aren't contracts for poorer people as inviolable as that for bank executives?

From the Guardian:

Jerry1962
03 December 2013 11:22pm

Anyone who has been to Detroit, lately knows that the people there are barely civil, and that they've been living like Mad Max, for decades. What harm can come from the city declaring bankruptcy, that the locals haven't already done to themselves?

SystemicDisorder
03 December 2013 5:33pm

A disaster brought to you by Wall Street. Financial speculators have cleaned up selling derivatives to the city of Detroit. True enough, the local authorities should not have listened to Wall Street siren songs, but that does not change the underlying facts.
Some questions we should ask: How is it that almost $300 million is available for a new ice hockey arena when there is no money for pensions? How is that the Michigan governor can cut business taxes by 80 percent at a time of fiscal crisis? Why did the total of pension liabilities suddenly increase fivefold from earlier this year, after Orr took over?
Seeing Detroit as some sort of morality play — with the usual racist undertones — disguises the larger reality being played out.

demorat
03 December 2013 5:59pm

detroit is just the canary in the coal mine
all across america unions bought off politicians who in turn handed out benefit packages which were never affordable and now those chickens are coming home to roost.
so fasten your seat belts 'cause it's going to be a bumpy ride!

WoodenNickel
03 December 2013 7:03pm

I don't feel sorry for the retired municipal workers. Over the last 50 years they voted for every corrupt politician that promised them Champagne and Caviar. Now that the bills are due they are crying. It's time to strip them of their pensions...

usawatching Ian McKenna
03 December 2013 9:18pm

a "public sector" union is by its nature incestuous because both sides in the negotiation get the same increases , benefits and pensions. it is akin to negotiating with yourself. if you could, how much more than you are making do you think you are worth? how much better benefits and pension do you think you are worth? well, in a public sector union, you negotiate with yourself and award yourself whatever you think you are worth. since your union dues go toward electing the people you are negotiating with, why wouldn't they give you whatever you want? this is why these unions, including teachers unions, are breaking the US and will break Europe and the UK in short order.



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