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Detroit Resurrected To Bankruptcy And Back

Author: Nathan Bomey
Publisher: W. W. Norton & Company
ISBN: 0393248925
Size: 29.24 MB
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What happens when an iconic American city goes broke? At exactly 4:06 p.m. on July 18, 2013, the city of Detroit filed for bankruptcy. It was the largest municipal bankruptcy in American history—the Motor City had finally hit rock bottom. But what led to that fateful day, and how did the city survive the perilous months that followed? In Detroit Resurrected, Nathan Bomey delivers the inside story of the fight to save Detroit against impossible odds. Bomey, who covered the bankruptcy for the Detroit Free Press, provides a gripping account of the tremendous clash between lawyers, judges, bankers, union leaders, politicians, philanthropists, and the people of Detroit themselves. The battle to rescue this iconic city pulled together those who believed in its future—despite their differences. Help came in the form of Republican governor Rick Snyder, a technocrat who famously called himself “one tough nerd”; emergency manager Kevyn Orr, a sharp-shooting lawyer and “yellow-dog Democrat”; and judges Steven Rhodes and Gerald Rosen, the key architects of the grand bargain that would give the city a second chance at life. Detroit had a long way to go. Facing a legacy of broken promises, the city had to seek unprecedented sacrifices from retirees and union leaders, who fought for their pensions and benefits. It had to confront the consequences of years of municipal corruption while warding off Wall Street bond insurers who demanded their money back. And it had to consider liquidating the Detroit Institute of Arts, whose world-class collection became an object of desire for the city’s numerous creditors. In a tight, suspenseful narrative, Detroit Resurrected reveals the tricky path to rescuing the city from $18 billion in debt and giving new hope to its citizens. Based on hundreds of exclusive interviews, insider sources, and thousands of records, Detroit Resurrected gives a sweeping account of financial ruin, backroom intrigue, and political rebirth in the struggle to reinvent one of America’s iconic cities.

Detroit Resurrected

Author: Nathan Bomey
Publisher: W. W. Norton
ISBN: 9780393354430
Size: 16.59 MB
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What happens when an iconic American city goes broke?

After The Fact

Author: Nathan Bomey
Publisher: Prometheus Books
ISBN: 1633883787
Size: 75.11 MB
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This trenchant analysis examines the many ways our society's increasingly tenuous commitment to facts laid the groundwork for Donald Trump's rise to power. Award-winning journalist Nathan Bomey argues that Trump did not usher the post-truth era into being. He was its inevitable outcome. Bomey points to recent trends that have created the perfect seedbed for spin, distortion, deception, and bald-faced lies: shifting news habits, the rise of social media, the spread of entrenched ideologies, and the failure of schools to teach basic critical-thinking skills The evidence supporting the author's argument is all around us: On Facebook, we present images of our lives that ignore the truth and intentionally deceive our friends and family. We consume fake news stories online and carelessly circulate false rumors. In politics, we vote for leaders who leverage political narratives that favor ideology over science. And in our schools, we fail to teach students how to authenticate information. After the Fact explores how the convergence of technology, politics, and media has ushered in the misinformation age, sidelining the truth and threatening our core principle of community.

Detroit City Is The Place To Be

Author: Mark Binelli
Publisher: Macmillan
ISBN: 1250039231
Size: 36.79 MB
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"The fall and maybe rise of Detroit, America's most epic urban failure, from local native and Rolling Stone reporter Mark BinelliOnce America's capitalist dream town, Detroit is our country's greatest urban failure, having fallen the longest and the farthest. But the city's worst crisis yet (and that's saying something) has managed to do the unthinkable: turn the end of days into a laboratory for the future. Urban planners, land speculators, neo-pastoral agriculturalists, and utopian environmentalists--all have been drawn to Detroit's baroquely decaying, nothing-left-to-lose frontier. With an eye for both the darkly absurd and the radically new, Detroit-area native and Rolling Stone writer Mark Binelli has chronicled this convergence. Throughout the city's "museum of neglect"--its swaths of abandoned buildings, its miles of urban prairie--he tracks the signs of blight repurposed, from the school for pregnant teenagers to the killer ex-con turned street patroller, from the organic farming on empty lots to GM's wager on the Volt electric car and the mayor's realignment plan (the most ambitious on record) to move residents of half-empty neighborhoods into a viable, new urban center.Sharp and impassioned, Detroit City Is the Place to Be is alive with the sense of possibility that comes when a city hits rock bottom. Beyond the usual portrait of crime, poverty, and ruin, we glimpse a future Detroit that is smaller, less segregated, greener, economically diverse, and better functioning--what might just be the first post-industrial city of our new century"--

Detroit The Dream Is Now

Author: Michel Arnaud
Publisher: Abrams
ISBN: 1683350030
Size: 20.36 MB
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Detroit: The Dream Is Now is a visual essay on the rebuilding and resurgence of the city of Detroit by photographer Michel Arnaud, co-author of Design Brooklyn. In recent years, much of the focus on Detroit has been on the negative stories and images of shuttered, empty buildings—the emblems of Detroit’s financial and physical decline. In contrast, Arnaud aims his lens at the emergent creative enterprises and new developments taking hold in the still-vibrant city. The book explores Detroit’s rich industrial and artistic past while giving voice to the dynamic communities that will make up its future. The first section provides a visual tour of the city’s architecture and neighborhoods, while the remaining chapters focus on the developing design, art, and food scenes through interviews and portraits of the city’s entrepreneurs, artists, and makers. Detroit is the story of an American city in flux, documented in Arnaud’s thought-provoking photographs.

Investing In The High Yield Municipal Market

Author: Triet Nguyen
Publisher: John Wiley & Sons
ISBN: 1118240111
Size: 66.81 MB
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A practical guide to profiting from the high yield municipal market This unique guide to the high yield municipal bond market sheds some much-needed light on this esoteric but profitable corner of the fixed-income world. It fills the void between the general reference handbooks on municipal bonds and the superficial treatment of do-it-yourself bond guides, with an emphasis on practical trading applications. Having witnessed the beginning of the modern high yield tax-exempt institutional market, author Triet Nguyen documents its historical evolution, outlines a conceptual framework for high yield tax-free investing, one that takes into account both interest rate and credit cycles, and reviews the latest historical data on municipal defaults, including for the first time the non-rated sector. Current distressed opportunities are also discussed. Along the way, Nguyen takes the time to discuss in detail the pros and cons of investing in pre-packaged high yield vehicles—from mutual funds to hedge funds to exchange-traded funds—with frank and objective insider tips on how these slickly marketed products really work. For the truly committed investor who wants to do his or her own homework, Nguyen and a group of industry experts go over the key investment considerations for several major classes of high yield tax-exempt bonds. Offers unique insights into the risk/return, trading, and liquidity characteristics of high yield municipal instruments Includes interesting case studies to fully illustrate the high yield investing process Written by an insider of both the asset management industry and the broker-dealer community Investing in the High Yield Municipal Market will put you in a better position to profit in this arena and help you excel in today's tough financial environment.

Once Upon A Car

Author: Bill Vlasic
Publisher: Harper Collins
ISBN: 006204222X
Size: 34.83 MB
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Once Upon a Car is the fascinating epic story of the rise, fall, and rebirth of the Big Three U.S. automakers, General Motors, Ford, and Chrysler. Written by Bill Vlasic, the Detroit bureau chief for the New York Times and acclaimed author of Taken for a Ride, this eye-opening, richly anecdotal work is more than a riveting and insightful business history. It offers a clear-eyed view of the present day automobile industry and of Detroit, the city that spawned it, going far beyond the corporate and federal maneuverings to explore the impact the car companies’ failures have had on the overall economy, and more importantly what they have done to people’s lives. Relevant and thought-provoking, Once Upon a Car is an unforgettable journey deep inside this quintessentially American industry.

American Icon

Author: Bryce G. Hoffman
Publisher: Crown Business
ISBN: 0307886069
Size: 80.22 MB
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THE INSIDE STORY OF THE EPIC TURNAROUND OF FORD MOTOR COMPANY UNDER THE LEADERSHIP OF CEO ALAN MULALLY. At the end of 2008, Ford Motor Company was just months away from running out of cash. With the auto industry careening toward ruin, Congress offered all three Detroit automakers a bailout. General Motors and Chrysler grabbed the taxpayer lifeline, but Ford decided to save itself. Under the leadership of charismatic CEO Alan Mulally, Ford had already put together a bold plan to unify its divided global operations, transform its lackluster product lineup, and overcome a dys­functional culture of infighting, backstabbing, and excuses. It was an extraordinary risk, but it was the only way the Ford family—America's last great industrial dynasty—could hold on to their company. Mulally and his team pulled off one of the great­est comebacks in business history. As the rest of Detroit collapsed, Ford went from the brink of bankruptcy to being the most profitable automaker in the world. American Icon is the compelling, behind-the-scenes account of that epic turnaround. On the verge of collapse, Ford went outside the auto industry and recruited Mulally—the man who had already saved Boeing from the deathblow of 9/11—to lead a sweeping restructuring of a company that had been unable to overcome decades of mismanage­ment and denial. Mulally applied the principles he developed at Boeing to streamline Ford's inefficient operations, force its fractious executives to work together as a team, and spark a product renaissance in Dearborn. He also convinced the United Auto Workers to join his fight for the soul of American manufacturing. Bryce Hoffman reveals the untold story of the covert meetings with UAW leaders that led to a game-changing contract, Bill Ford's battle to hold the Ford family together when many were ready to cash in their stock and write off the company, and the secret alliance with Toyota and Honda that helped prop up the Amer­ican automotive supply base. In one of the great management narratives of our time, Hoffman puts the reader inside the boardroom as Mulally uses his celebrated Business Plan Review meet­ings to drive change and force Ford to deal with the painful realities of the American auto industry. Hoffman was granted unprecedented access to Ford's top executives and top-secret company documents. He spent countless hours with Alan Mulally, Bill Ford, the Ford family, former executives, labor leaders, and company directors. In the bestselling tradition of Too Big to Fail and The Big Short, American Icon is narrative nonfiction at its vivid and colorful best.

Reimagining Detroit

Author: John Gallagher
Publisher: Wayne State University Press
ISBN: 9780814334690
Size: 69.40 MB
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"John Gallagher's Reimagining Detroit provides a thought-provoking analysis of a city devastated by deindustrialization and a clear vision for a future Detroit as a smaller, vibrant city. This thinking goes against the grain as many public policy experts and planners believe that fixing Detroit requires a repopulation of the city's current footprint. Policy makers and community leaders should examine Gallagher's paradigm-shifting idea that when you plan for shrinkage, growth happens. Reimagining Detroit is a must-read for all engaged in the hard work of rebuilding Detroit."-Sheila Cockrel, former Detroit city councilwoman and adjunct professor in the Wayne State University Irvin D. Reid Honors College "John Gallagher has done a great job of synthesizing a host of important and emerging ideas that could dramatically change Detroit's future and of presenting them in ways that are clear and vivid and that both practitioners and laypeople will readily grasp. This is a valuable book, not only for Detroiters, but for anyone with a physical, financial, or emotional stake in the future of America's shrinking industrial cities."-Alan Mallach, non-resident senior fellow in the Metropolitan Policy Program at the Brookings Institution and author of Bringing Buildings Back: From Vacant Properties to Community Assets" What is really distinctive about John Gallagher's contribution to the Detroit saga is his perspective. This important and timely book reflects his design/architectural background, his business experience, and the investigative skills he honed at the Detroit Free Press. This rich background is badly needed, as much of the writing about the post-industrial urban future, including Detroit's, is narrow or opinionated or worse, both. Gallagher's book will not be the last to explore the journey that Detroit might take through the twenty-first century, but this road map will be essential reading for all."-Robin Boyle, director of the Department of Urban Studies and Planning at Wayne State University "Whether urban or rural dweller, academic or practitioner, the reader takes from Gallagher a deeper appreciation of both the challenges and opportunities that exist within our cities, challenges and opportunities that will ultimately impact our country."-Jay Williams, mayor of Youngstown, Ohio, from the foreword