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Stockreport

Five years ago Detroit was bankrupt. Now it's coming back [CNN]

Ford Motor Co (F)  More Company Research Source: CNN
Last ford motor co earnings: 10/24 04:15 pm Check Earnings Report
US:NYSE Investor Relations: shareholder.ford.com
PDF Five years ago Detroit was bankrupt. Now it's coming back (CNN) Five years ago, Detroit was America's poster city for urban decay. The city had $18 billion of debt and fewer than half the number of residents it had in the 1980s. Abandoned homes dotted the landscape. For those who remained, jobs were scarce. City services were so poor that police could take almost an hour to respond to emergency calls. But the largest bankruptcy in US history allowed Detroit to start rebuilding. It filed on July 18, 2013, and after 16 months in bankruptcy court, the city was allowed to shed roughly half of its debt. The state and a number of private foundations and companies — including Ford Motor, General Motors and Chrysler — chipped in millions of dollars to help fund public worker pension benefits. The Motor City has received more than $250 million in federal aid used to remove blighted buildings. Since 2014, about 14,000 vacant houses have been demolished and thousands more have been boarded up o [Read more]

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