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View Diary: Detroit Emergency Manager Approves Go-Ahead on New $450 Million Sports Arena (247 comments)

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  •  Can't afford to pay retirees' pensions, but... (1+ / 0-)
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    Detriot is bankrupt.

    So bankrupt it cannot afford to pay the promised pensions for retired city workers.  The city sought and received legal dispensation to free itself of the obligation to pay for the retirement plans of previous generations of city workers.  Those workers brought a suit against the city to seek fulfillment of their promised pensions, but the court said the bankruptcy proceeding would take precedence, the the city workers would just have to go without their retirment plans.

    But when large corporations want a new sports arena, hey no financial problems there.  Why not?  The tax-payers will pay for the sports arena, not the bankrupt city, and that is indeed the best use of tax-payer money right now.

    The bankruptcy proceeding are just another way to screw workers and enrich corporations.  Just like The Sequester.

    "The fool doth think he is wise: the wise man knows himself to be a fool" - W. Shakespeare

    by Hugh Jim Bissell on Sat Jul 27, 2013 at 07:33:45 AM PDT

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