Showing posts from October, 2014

Grand Bargain and helping Detroit

Is this how the Grand Bargain helps Detroit? With this kind of help who needs enemies? ** Revision October 17, 2014 There are additional assets being surrendered by the city, such as the Joe Louis Arena, that are not accounted for in the above analysis. This will decrease the city's net worth further.

Grand Bargain or Grand Scam

The proposed Grand Bargain misuses the assets stored at the DIA and owned by the city. The art should be sold and better utilized for the future prosperity of the city and ultimately its citizens. The reasons given for the need to keep the art intact is summed up by Rip Rapson, president and CEO of the Kresge Foundation: "It is an inseparable part of the city's history, It clearly generates enormous international attention to the city's standing as a place of cultural importance...And it is one of those sort of defining institutions of Detroit life." No doubt this is true, however if the purpose of the Grand Bargain is to save the city, and not just the DIA, the question not asked is whether there is a better use of the funds tied up in art at the DIA that would better add to the quality of life of the city's residents. Orr and his army of experts seem to have lost track of the purpose of Chapter 9 bankruptcy; save the city and make it a better place to live

Grand Bargain and how not to avoid high legal cost