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Jefferson County, Alabama, won court approval of a creditor vote on a $1.3 billion debt-reduction plan that is being threatened by interest rates that are higher than the county planned. To read more, click here.
State and local-government pension investments gained the most in two years in fiscal 2013, overshadowed by intensifying scrutiny of underfunded municipal retirement plans following Detroit’s bankruptcy. To read more, click here.
Bill Schuette left Washington after losing his House seat in a failed bid for the U.S. Senate in 1990. He returned to his native Michigan, seeking lesser political jobs to rebuild his career. To read more, click here.
The municipal market’s biggest July decline in a decade is leading investors such as Vanguard Group Inc. to bet history is on their side as they buy with yields close to a two-year high. To read more, click here.
Detroit’s plan to cut its $18 billion in debt would be due March 1 if the city survives an effort by creditors to throw it out of bankruptcy, according to a schedule proposed by the judge in the case. To read more, click here.
Detroit’s bankruptcy filing is bringing added scrutiny to the finances of Chicago, as the Illinois city’s struggle to contain its murder rate and swelling pension costs leave it with the lowest credit grade in 26 years. To read more, click here.
Walking to meet friends for a drink at Fleming’s Prime Steakhouse and Wine Bar in bustling downtown Birmingham, Michigan, Cindy Boudreau said she never goes into Detroit except for an occasional Red Wings hockey game. She doesn’t see the point, especially now that the city is bankrupt. To read more, click here.
Detroit’s bankruptcy is providing a buying opportunity in the city’s $5.4 billion of water and sewer debt as investors bet that bonds trading at the deepest discount since 2011 will get paid in full. To read more, click here.
Detroit obtained federal protection from lawsuits while in bankruptcy, opening the way for a hearing near the end of the year over whether the city belongs in bankruptcy court in the first place. To read more, click here.
The bankruptcy of Detroit, which may cut retirement benefits of 30,000 current and former city workers, is causing investors to scrutinize billion-dollar shortfalls in government pensions in other parts of the country. To read more, click here.