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Showing posts from April, 2015

Detroit and the great art heist.

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Per Crain's' News. “...Christie's has finalized its estimates of the  value of the portion of the Detroit Institute of Arts collection purchased by the city of Detroit when it still operated the museum.” The key word is portion. A portion was only valued for a reason and it was not that Orr or Snyder didn't think the city owned the remainder. Orr knew from the start that under Chapter 9 a creditor could not fo rce him to sell the art so there was little reason to pay for an appraisal of the entire collection. The creditors also knew they could not force a sale so they decided not to waste money and time on an appraisal. Further, there was little doubt Snyder was under heavy pressure from the donors of the art, that were also probably contributors to his reelection campaign, not to sell the art. The reason for ordering an appraisal on only a small part of the collection was to throw the general public off and put doubt in the minds of retirees how much value r

President Rick Snyder?

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Picture from Ann Arbor News  If he runs the national press will not let him off the hook concerning the bankruptcy in Detroit like the local press did. He and Kevyn Orr knew from the start that under Chapter 9 a creditor could not force him to sell the art so there was little reason to pay for an appraisal of the entire collection. The creditors also knew they could not force a sale so they decided not to waste money and time on an appraisal. Further, there was little doubt Snyder was under heavy pressure from the donors of the art, that were also probably contributors to his reelection campaign, not to sell the art. The reason for ordering an appraisal on only a small part of the collection was to throw the general public off and put doubt in the minds of retirees how much value really existed. I can see how Orr, Snyder and Judge Rhoades lost some of their objectivity because this scheme fit in beautifully with Judge Rosen 's Grand Bargain. It is hard to keep your object

Klobuchar leads fight on human trafficking

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Klobuchar addressing senate on human trafficking bill she sponsored Click image to view 3 minute video Just maybe she should be   President .

Klobuchar inquiring about Comcast-Netflex proposed deal

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Four minute video of Amy Klobuchar in action concerning Comcast/Netflex merger. In April 2015 Comcast withdrew their request to have congress approve merger Between Comcast and Time Warner.

Snyder and education in Detroit

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Everyone must recognize that the basis on which Snyder will be  making a decision on Detroit's schools will be political and what is in his best long term interest. It is commonly believed that he is looking beyond his current job as Governor and looking to the national stage for his next opportunity. That is why he is going on a national road trip. The trip is touted as one to promote Michigan. It is also to promote Snyder. His term is up in a few years and in Michigan he already holds the highest position in the tate. He is a Republican and therefore any decisions he makes as Governor from here on out will be influenced by what he believes the national party will look at in a favorable light. He also is aware that the majority of voters in Detroit are Democrats and only 31% of the city's voters turned out to vote in his latest election. The national Republican party is in favor of Charters. The vast majority of black voters are Democrats and those in poverty also genera

Grand Disaster

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What kind of life do Detroiters have in the afterlife of bankruptcy? Those working for the citizens of Detroit focused on the short term objective of getting the city out of chapter 9, instead of focusing on using the legal action of restructuring debt in a manner that gives the city the best chance to prosper and flourish after completing the legal action. During the trial it was mentioned that in order for the city to have a solid future it must grow its middle class and thus its tax base. This is not going to happen without a good public school system. Detroit was in a better position to do this than other cities facing similar problems because of the billions of dollars of assets stored at the DIA. The Grand Bargain tossed  this opportunity away forever. The the art could have been sold as needed and invested in creating the best public school system in the state. This, along with improved public safety will grow Detroit's middle class. For most parents there is nothin