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Posts Tagged ‘bankruptcy’

Detroit has declared bankruptcy!

DollarStacksDetroit has hard financial times ahead. So hard, that Detroit has finally
applied for ordered bankruptcy according to Chapter 13 of the United
States bankruptcy code. This means, the city is undergoing an ordered
reorganization of the finances in order to get up to shape again.

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December 4, 2013Netspark No Comments »
FILED UNDER :Curiosities , Economy&Finance , News , Thoughts
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Just an exception – or the beginning?

Can a complete city of the size of Zurich or Nuremberg get into bankruptcy?
No? Then this city in California, namely Stockton is teaches you otherwise!
Stockton is in debt with hundreds of millions of dollars. What sounds not much
is a real shock for the residents. The city is also suffering of high crime now!

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June 25, 2012Netspark No Comments »
FILED UNDER :Curiosities , Economy&Finance , News
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