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Grand Bargain: The Inside Story of Detroit's Dramatic Journey from Bankruptcy to Rebirth
By Gerald Rosen
eBook
$9.99
By Gerald Rosen
2|
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The city of Detroit's decades-long downward spiral crash-landed in bankruptcy court on July 18, 2013. Recession, decaying infrastructure, crime, and competition from foreign automakers had hollowed out the city's economic core. Indeed, Detroit was in such bad shape that Michigan's governor had to appoint an emergency manager to take over the city, replacing its elected leaders. But even that was not enough to turn it around. By the summer of 2013, Detroit was flat broke. What would happen t...