HISTORICAL DAY FOR DETROIT….

Bankruptcy seemed inevitable. Reality was made today, as the judge enables the city of Detroit to file bankruptcy. This is very complicated for Detroit. It’s a shame it has come to this, but if it helps the city in the long run, then I guess it should be done. The pension plans seems to be the toughest part of the deal. I think this will go all the way to the Supreme court for the final decision, which could take years to finalize. In any case, hopefully the city can move forward, the whole state depends on the city of Detroit, whether people like it or not. The city has a ton of problems, and will take decades to straighten out, but I believe we have bottomed out and will be able to move in the right direction now. The new Mayor seems to be on a mission to improve the status of Detroit. Only time will tell, but for the best interest of everyone in the state of Michigan lets hope the city can rebound.