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Durudarshan - Investment Analysis

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Detroit filed for Chapter 9 bankruptcy.

Posted on July 19, 2013 at 10:39 AM
Mismanagement and corruption are two words that some reports on TV seem to suggest as possible causes of the neglect and decline of Detroit, leading today to a quickie filing of Bankruptcy.
A sad state for any community, sadder still when it has the towering GM headquarters building there.
There was a time when kids the world over associated the name Detroit with motor car production, or simply with great looking motors, the sort of cars we all wished to drive one day.  What happened to those beautiful Chevvys and Corvettes, those beautiful cars?  What happened to the whole car manufacturing industry?  What happened to the people who worked there, what happened to the houses, lying today in their tens of thousands, abandoned, neglected, derelict?
 
It seems a debt burden of $20 billion, which the municipality today cannot repay, and a neglect over a couple of decades has led today to this sad bankruptcy.
 
A programme of regeneration must materialise, surely, to put Detroit back on its feet, perhaps even put Detroit back in peoples' affections. 
 
It would definitely take the will of government to put some money into this economy, and the vision of enlightened entrepreneurs, who could probably see Detroit as a great opportunity to rebuild.  Money plus the vision of someone (I know such a person is there, but I shall not pre-empt by banding a name, although if you look in the top 100 entrepreneurs in America, you will probably see who fits the bill) will put the life back into Detroit. 
 
When houses became habitable, the people become hospitable, when a New Industry settles in Detroit, wealth will be created, wealth will grow, and life will be breathed into this neglected town.  Hope springs eternal in the human heart, that I do believe, as do the guys playing netball in the streets there.
For the regeneration of Detroit, I pray. 
 
Kind regards,
Duru-darshan.
 
 

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5 Comments

Reply compensation for motor accide
9:16 AM on July 23, 2013 
Bankruptcy information means knowing about it, like its function, requirements, effects, categories, laws, legal practice etc. It is an officially authorized process related with finance and more complex than it seems.Thanks for the post..
Reply Dennis
12:53 PM on July 25, 2013 
Yeah, In one time Detroit called the motor city and now more then one million peoples evacuate from that place and unemployment and theft have become common issue there. I am personally attached to that place..
Reply Land Use Consultants
10:49 AM on July 26, 2013 
I am pleased to read your post regarding the bankruptcy. I was searching for the related topic you discussed and also the major causes for this situation so i think you fully justify the topic. Good job. All the best.
Reply Bicycle accident lawyers
11:07 AM on August 8, 2013 
Between unemployment, underemployment and uninsured medical costs, people are turning towards bankruptcy for much needed relief.Thanks for the essential information..
Reply Nida
4:59 AM on December 27, 2018 
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