Bankruptcy

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.
Jan 21, 2014   The Montreal Gazette
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.
Jun 3, 2013   Detroit Free Press
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.
Mar 12, 2013   The New York Times
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 brink of bankruptcy. Ariel Godwin applies a quantitative analysis to examine whether there is, in fact, a correlation between city form and expenditures. Exclusive
Oct 1, 2012  By Ariel Godwin
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.
Sep 10, 2012   Los Angeles Times
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.
Jun 28, 2012   The Atlantic Cities
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?
May 24, 2012   The Washington Post
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.
Mar 22, 2011   The New York Times
Budget-troubled Jefferson County, Alabama -- once thought to be on the brink of the largest municipal bankruptcy in U.S. history -- is moving forward with plans to clean up its finances.
Mar 11, 2011   Reuters
The tiny city of Hamtramck, Michigan, is edging closer to bankruptcy, as budget woes grow.
Dec 28, 2010   The New York Times
As the economic downturn has caused many states and municipalities to borrow large amounts of money, some worry there may be a glut of them going bankrupt.
Oct 18, 2010   Governing