21 Jul 2013 10:55 AM EST
In Detroit's ruin, law firms see land of new opportunity
With more than $18 billion at stake in Detroit's restructuring, big law-firms and other advisers are clamoring to represent the city's many creditors.
Detroit Bailout Draws Little Enthusiasm From President Barack Obama, Federal Government
During the bleakest days of the Great Recession, Congress agreed in bipartisan votes to bail out two of Detroit's biggest businesses, General Motors and Chrysler. Today, however, there seems little appetite from either Democrats or Republicans in Washington for a federal rescue of the birthplace of the automobile industry.
Michigan judge orders withdrawal of Detroit bankruptcy petition
A Michigan judge ordered Detroit's state-appointed emergency manager to withdraw the federal bankruptcy petition he filed for the city.
Biden: 'We don't know' if White House can help Detroit
The White House is looking for ways to help the city of Detroit after the city filed for bankruptcy protection on Thursday, but Vice President Joe Biden said it was unclear what the administration could do. "Can we help Detroit?" Biden said in a response to a question from a reporter. "We don't know." Detroit, a former manufacturing powerhouse and cradle of the U.S. automotive industry, filed for Chapter 9 bankruptcy protection, making it the largest municipal bankruptcy in U.S. history.
-by Samantha Wilson, Assistant Editor; Image: the building where Danielle Doughty's family escaped from a deadly fire (Image Source: lohud.com) A mother was forced to toss her twin toddlers to safety...
-by Samantha Wilson, Assistant Editor; Image: The flu virus (Image Source: The CDC) In what has already proven to be a controversial move, New York City’s Board of Health voted unanimously...