Apr 202014
 

File your objection to the “Plan for the Adjustment of Debts of the City of Detroit

Download instructions and forms here (updated on 3/25/2014):

People’s Objection Instructions

People’s Objection to the Plan of Adjustment form

Microsoft Word version

PDF version

Submit by May 1, 2014


Objection! a video from HERU Organization

 April 20, 2014  Posted by at 4:16 am Uncategorized Tagged with: ,  No Responses »
Apr 182014
 

By Abayomi Azikiwe, April 17, 2014

Detroit retirees, city workers, residents and concerned citizens protest outside federal courthouse against bankruptcy.

The ruling on April 11 in the Detroit municipal bankruptcy by Federal Bankruptcy Court Judge Steven Rhodes awarded an $85 million payment to two banks that are heavily implicated in the financial ruin of Detroit and other cities throughout the United States.

Rhodes ruled that the third negotiated attempt to terminate an interest-rate swap agreement involving Bank of America and United Bank of Switzerland arrived at a “reasonable” plan. The judge said that it was legal to hand over more money to these financial institutions despite the fact that they have been paid over $300 million by the city since 2006. Barclay’s Bank, of Libor scandal infamy, will broker the deal. Continue reading »

Apr 052014
 

Updated on March 25, 2014

File your objection to the “Plan for the Adjustment of Debts of the City of Detroit
and/or
“Disclosure Statement With Respect to Plan for the Adjustment of Debts of the City of Detroit”.

The deadline for filing objections to the Plan of Adjustment is April 28, 2014.

writers

Download instructions and forms here (updated on 3/25/2014):

People’s Objection Instructions

People’s Objection to the Plan of Adjustment form

Microsoft Word version

PDF version

People’s Objection to the Disclosure Statement form

Microsoft Word version

PDF version


Objection! a video from HERU Organization

 April 5, 2014  Posted by at 3:50 am Uncategorized Tagged with: , ,  No Responses »
Apr 052014
 

By Curt Guyette, Metro Times, April 1, 2014

There is, however, another narrative, one far more shadowy than the virtuous tale Orr served up in his University of Michigan presentation.

Metro Times Cover-Curt Guyette

Detroit Emergency Manager Kevyn Orr stood behind a lectern in a ballroom on the University of Michigan’s campus, telling an attentive crowd how the civic-minded values absorbed here at his alma mater helped lead to a job that, when first offered, he wanted no part of. His initial response wasn’t just no, but an emphatic “Hell no.”

Continue reading at Metro Times

 April 5, 2014  Posted by at 3:22 am Uncategorized Tagged with: , , ,  No Responses »
Apr 052014
 

Diane Bukowski, April 2, 2014

 

Marchers pack sidewalks outside federal courthouse in Detroit April 1, 2014.

Largest protest yet includes numerous unions, community groups

Retiree creditors add hundreds more objections to Plan of Adjustment, call for NO vote

Amended POA threatens further attacks, up to 60 percent cuts in pensions, annuities, health care; plans to remove Retirement Board trustees

 April 1, 2014 

During a massive march April 1 outside the city’s federal courthouse, the site of bankruptcy hearings, Detroit residents, retirees, and union and community leaders announced plans to shut the city down May 1. The protest against Detroit Emergency Manager Kevyn Orr’s bankruptcy filing was the largest yet.

Continue reading at  Voice of Detroit

Apr 052014
 

Lisa Hoffman, The National Law Journal, April 03, 2014

After throwing out a putative class action against Goldman Sachs twice before, a federal judge has switched gears on the mortgage securities suit brought by Detroit police and fire retirees and allowed it to proceed.

The Police and Fire Retirement System of the City of Detroit first took to the courts in 2010, alleging that its pension fund had suffered losses due to Goldman Sachs’ false and misleading statements about the health of mortgage loans it backed, many of which were based on inflated and undocumented income and property appraisals. Continue reading »

 April 5, 2014  Posted by at 2:32 am Uncategorized Tagged with: , ,  No Responses »
Apr 052014
 

By Kris Hamel on April 3, 2014

detroiters_bk_ct_0401April 1 — More than 500 loud and angry workers marched at the federal bankruptcy court in Detroit to voice their objections to the planned slashing of City retirees’ pensions by 34 percent along with other draconian cuts. The demonstration was called by the Moratorium NOW! Coalition and Stop Theft of Our Pensions Committee. Workers, active and retired, came out from the American Federation of State, County and Municipal Employees, United Auto Workers, Communication Workers, and many other unions, along with city residents and community activists. Objections to the emergency manager’s austerity plans and giveaways to the banks in the city of Detroit bankruptcy were delivered to the court. “Shut it down!” was the resounding declaration of many speakers whose organizations are planning a boycott and all-day protest event on May Day.

This article also appeared in workers.org.

 April 5, 2014  Posted by at 1:48 am Uncategorized Tagged with: , , ,  No Responses »
Apr 042014
 

By Kris Hamel, April 1, 2014

Detroit-bankruptcy-demo-040114-daymonhartley400The city of Detroit bankruptcy case is being played out in a courtroom far removed from the real future of the city and the destiny of its workers, retirees and residents.

Yes, the federal bankruptcy court is in downtown Detroit. But the lawyers representing the emergency-management-run city and the bankers who are trying to squeeze it dry are as far removed from the reality of average Detroiters as is the moon. The courtroom and legal process itself are meant to intimidate workers, as anyone who has observed the bankruptcy trial can attest to.

It is thus a critical development that so far some 300 city of Detroit retirees, workers and residents have made their voices heard by filing objections to the city’s austerity “Plan of Adjustment” that is being offered by Emergency Manager Kevyn Orr. This plan asks the more than 20,000 city retirees to take a 34 percent cut in their pensions if they reject the plan, or a 26 percent cut if they accept the plan. Continue reading »

 April 4, 2014  Posted by at 1:50 am Uncategorized Tagged with: , , ,  No Responses »
Mar 312014
 

Ed McNeil is Special Assistant to the President of Michigan AFSCME Council 25


Ed McNeil

By Ed McNeil 

Today the  the entire region will celebrate the Detroit Tigers Opening Day. And the biggest party of all is happening at Detroit City Council where members are scheduled to vote to donate as much as $75 million to the Illitch organization – the owners of our beloved baseball team.

That’s quite a gift. It comes in the form of forgiving at least $50 million in money owed to the City of Detroit by the Red Wings for past cable TV revenues. Some reports estimate the amount owed to Detroit taxpayers is as high as $80 million as noted in the Detroit News  on March 27: Report: Detroit gets $5.2M, not $50M, in arena lease due to terms.  (Update: The Council voted this morning 5-4 to approve the deal.) Continue reading »

 March 31, 2014  Posted by at 4:04 am Uncategorized Tagged with: , , ,  No Responses »