Bankruptcy

January 7, 2016, 1pm PST
San Francisco's largest cab company is planning to file for bankruptcy very soon. The competition from transportation network companies is forcing the company, and likely the industry, to completely restructure.
San Francisco Examiner
Blog post
April 29, 2015, 2pm PDT
The enthusiasm of Detroit's new civic leadership, who engineered its bankruptcy and set up its recovery, is infectious. How the city will ultimately fare, and how other troubled cities learn from Detroit's mistakes, remains to be seen.
Josh Stephens
January 21, 2014, 5am PST
With debts in excess of $30 million owed to the city of Montreal, and unhappy customers in New York City and Chicago refusing to pay for outstanding bills, the Bixi bike-share company has been forced to file for bankruptcy protection.
The Montreal Gazette
December 3, 2013, 11am PST
U.S. Bankruptcy Judge Steven Rhodes ruled today that the city of Detroit is eligible for bankruptcy protection, allowing the city to proceed with the largest municipal bankruptcy in U.S. history. Public employee unions are expected to appeal.
Detroit Free Press
October 1, 2013, 10am PDT
If you thought the bankruptcy in Detroit was caused by the disappearance of manufacturing jobs, well, you'd be wrong. Alan Mallach explains how our obsession with college degrees contributed to the downfall of a city.
Rooflines
September 16, 2013, 2pm PDT
The story of how Detroit became the largest US city to ever file for bankruptcy is a long and tangled one featuring many villains and several "if only" moments. The Detroit Free Press reviews 50+ years of financial history to set the record straight.
Detroit Free Press
August 12, 2013, 5am PDT
The Motor City is the not the only victim of the largest municipal bankruptcy in U.S. history. Local governments across Michigan are now encountering substantial obstacles to borrowing amid concerns about the security of municipal bonds.
The New York Times
August 5, 2013, 9am PDT
In an interview with The Wall Street Journal, emergency manager Kevyn Orr explains how his own experiences living in once-derelict, now-thriving cities leave him optimistic about Detroit's revival.
The Wall Street Journal
July 29, 2013, 1pm PDT
The addition of 50 new police cars, ramped up bus service, and long overdue streetlight repairs are all being planned as bankruptcy proceedings allow Detroit to increase funding for public services.
Detroit Free Press
July 23, 2013, 6am PDT
The federal government has a role to play in the financial crises afflicting cities across America, and most notably of late, in Detroit. Should Washington also play a role in helping them to recover?
The Nation
July 22, 2013, 6am PDT
With its recent bankruptcy filing, Detroit has a plethora of challenges ahead of it. But the city is well positioned for growth, argue Bruce Katz and Jennifer Bradley, which will be as important for the city's renewal as fixing its fiscal problems.
Brookings
July 11, 2013, 6am PDT
Police response times average 58 minutes for worst crimes and at times only 10 of the city's 36 ambulances are in service: Detroit's woes extend far beyond its unpaid debts. Many residents are hoping emergency management will bring drastic change.
The New York Times
June 15, 2013, 7am PDT
In a presentation to creditors delivered yesterday, Detroit emergency manager Kevyn Orr outlined a last-ditch effort to save the city from bankruptcy. Many creditors would have to agree to receive less than 10 cents on the dollar.
Detroit Free Press
June 3, 2013, 12pm PDT
The Detroit Zoo's 'healthy, breeding female giraffe'? A classic Ford XD Cobra prototype? Belle Isle? Mark Stryker and John Gallagher look at some of the city-owned assets that could be sold to help pay off the city's monstrous debt.
Detroit Free Press
March 12, 2013, 2pm PDT
The need to put Detroit under emergency management wasn't the result of a single failed strategy, but the culmination of decades of poor leadership, bad decisions, and "crossed fingers," report Monica Davey and Mary Williams Walsh.
The New York Times
Feature
October 1, 2012, 5pm PDT

Recently, it’s been suggested that the collapse of the Ponzi scheme of spending and taxing inherent in sprawling development patterns may be responsible for pushing municipalities to the br

Ariel Godwin
September 10, 2012, 8am PDT
The recent bankruptcy of the California city of Mammoth Lakes - brought on by a $43 million court decision in favor of a developer - is an extreme example of the cost of land use disputes. But it's indicative of a widespread problem in the state.
Los Angeles Times
June 28, 2012, 2pm PDT
Nate Berg takes a look at the seven biggest cities to have filed for bankruptcy in the last two decades, the largest of which officially broke the bank as of yesterday.
The Atlantic Cities
May 24, 2012, 1pm PDT
Since declaring bankruptcy in 2008, the climb out of the budgetary depths hasn't been an easy one for the city of Vallejo, California. But, as it springs back to life, could Vallejo become a model for how to run a city in an age of austerity?
The Washington Post
March 22, 2011, 11am PDT
Many voices have raised concerns over municipalities defaulting on bonds during these tough economic times. But as this op-ed argues, those concerns are misguided.
The New York Times