Detroit Resurrected: To Bankruptcy and Back

Author: Nathan Bomey

Publisher: W. W. Norton & Company

ISBN: 0393248925

Category: History

Page: 320

View: 912

What happens when an iconic American city goes broke? At exactly 4:06 p.m. on July 18, 2013, the city of Detroit filed for bankruptcy. It was the largest municipal bankruptcy in American history—the Motor City had finally hit rock bottom. But what led to that fateful day, and how did the city survive the perilous months that followed? In Detroit Resurrected, Nathan Bomey delivers the inside story of the fight to save Detroit against impossible odds. Bomey, who covered the bankruptcy for the Detroit Free Press, provides a gripping account of the tremendous clash between lawyers, judges, bankers, union leaders, politicians, philanthropists, and the people of Detroit themselves. The battle to rescue this iconic city pulled together those who believed in its future—despite their differences. Help came in the form of Republican governor Rick Snyder, a technocrat who famously called himself “one tough nerd”; emergency manager Kevyn Orr, a sharp-shooting lawyer and “yellow-dog Democrat”; and judges Steven Rhodes and Gerald Rosen, the key architects of the grand bargain that would give the city a second chance at life. Detroit had a long way to go. Facing a legacy of broken promises, the city had to seek unprecedented sacrifices from retirees and union leaders, who fought for their pensions and benefits. It had to confront the consequences of years of municipal corruption while warding off Wall Street bond insurers who demanded their money back. And it had to consider liquidating the Detroit Institute of Arts, whose world-class collection became an object of desire for the city’s numerous creditors. In a tight, suspenseful narrative, Detroit Resurrected reveals the tricky path to rescuing the city from $18 billion in debt and giving new hope to its citizens. Based on hundreds of exclusive interviews, insider sources, and thousands of records, Detroit Resurrected gives a sweeping account of financial ruin, backroom intrigue, and political rebirth in the struggle to reinvent one of America’s iconic cities.
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Detroit Resurrected

To Bankruptcy and Back

Author: Nathan Bomey

Publisher: W. W. Norton

ISBN: 9780393354430

Category: History

Page: 320

View: 3645

What happens when an iconic American city goes broke?
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Detroit Resurrected

To Bankruptcy and Back

Author: Nathan Bomey

Publisher: N.A

ISBN: 9780393248913

Category:

Page: 320

View: 3671

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After the Fact

The Erosion of Truth and the Inevitable Rise of Donald Trump

Author: Nathan Bomey

Publisher: Prometheus Books

ISBN: 1633883779

Category: LANGUAGE ARTS & DISCIPLINES

Page: 280

View: 4921

This trenchant analysis examines the many ways our society's increasingly tenuous commitment to facts laid the groundwork for Donald Trump's rise to power. Award-winning journalist Nathan Bomey argues that Trump did not usher the post-truth era into being. He was its inevitable outcome. Bomey points to recent trends that have created the perfect seedbed for spin, distortion, deception, and bald-faced lies: shifting news habits, the rise of social media, the spread of entrenched ideologies, and the failure of schools to teach basic critical-thinking skills The evidence supporting the author's argument is all around us: On Facebook, we present images of our lives that ignore the truth and intentionally deceive our friends and family. We consume fake news stories online and carelessly circulate false rumors. In politics, we vote for leaders who leverage political narratives that favor ideology over science. And in our schools, we fail to teach students how to authenticate information. After the Fact explores how the convergence of technology, politics, and media has ushered in the misinformation age, sidelining the truth and threatening our core principle of community.
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Detroit City Is the Place to Be

The Afterlife of an American Metropolis

Author: Mark Binelli

Publisher: Macmillan

ISBN: 1250039231

Category: Architecture

Page: 352

View: 1400

"The fall and maybe rise of Detroit, America's most epic urban failure, from local native and Rolling Stone reporter Mark BinelliOnce America's capitalist dream town, Detroit is our country's greatest urban failure, having fallen the longest and the farthest. But the city's worst crisis yet (and that's saying something) has managed to do the unthinkable: turn the end of days into a laboratory for the future. Urban planners, land speculators, neo-pastoral agriculturalists, and utopian environmentalists--all have been drawn to Detroit's baroquely decaying, nothing-left-to-lose frontier. With an eye for both the darkly absurd and the radically new, Detroit-area native and Rolling Stone writer Mark Binelli has chronicled this convergence. Throughout the city's "museum of neglect"--its swaths of abandoned buildings, its miles of urban prairie--he tracks the signs of blight repurposed, from the school for pregnant teenagers to the killer ex-con turned street patroller, from the organic farming on empty lots to GM's wager on the Volt electric car and the mayor's realignment plan (the most ambitious on record) to move residents of half-empty neighborhoods into a viable, new urban center.Sharp and impassioned, Detroit City Is the Place to Be is alive with the sense of possibility that comes when a city hits rock bottom. Beyond the usual portrait of crime, poverty, and ruin, we glimpse a future Detroit that is smaller, less segregated, greener, economically diverse, and better functioning--what might just be the first post-industrial city of our new century"--
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American Icon

Alan Mulally and the Fight to Save Ford Motor Company

Author: Bryce G. Hoffman

Publisher: Crown Business

ISBN: 0307886069

Category: Business & Economics

Page: 422

View: 2916

THE INSIDE STORY OF THE EPIC TURNAROUND OF FORD MOTOR COMPANY UNDER THE LEADERSHIP OF CEO ALAN MULALLY. At the end of 2008, Ford Motor Company was just months away from running out of cash. With the auto industry careening toward ruin, Congress offered all three Detroit automakers a bailout. General Motors and Chrysler grabbed the taxpayer lifeline, but Ford decided to save itself. Under the leadership of charismatic CEO Alan Mulally, Ford had already put together a bold plan to unify its divided global operations, transform its lackluster product lineup, and overcome a dys­functional culture of infighting, backstabbing, and excuses. It was an extraordinary risk, but it was the only way the Ford family—America's last great industrial dynasty—could hold on to their company. Mulally and his team pulled off one of the great­est comebacks in business history. As the rest of Detroit collapsed, Ford went from the brink of bankruptcy to being the most profitable automaker in the world. American Icon is the compelling, behind-the-scenes account of that epic turnaround. On the verge of collapse, Ford went outside the auto industry and recruited Mulally—the man who had already saved Boeing from the deathblow of 9/11—to lead a sweeping restructuring of a company that had been unable to overcome decades of mismanage­ment and denial. Mulally applied the principles he developed at Boeing to streamline Ford's inefficient operations, force its fractious executives to work together as a team, and spark a product renaissance in Dearborn. He also convinced the United Auto Workers to join his fight for the soul of American manufacturing. Bryce Hoffman reveals the untold story of the covert meetings with UAW leaders that led to a game-changing contract, Bill Ford's battle to hold the Ford family together when many were ready to cash in their stock and write off the company, and the secret alliance with Toyota and Honda that helped prop up the Amer­ican automotive supply base. In one of the great management narratives of our time, Hoffman puts the reader inside the boardroom as Mulally uses his celebrated Business Plan Review meet­ings to drive change and force Ford to deal with the painful realities of the American auto industry. Hoffman was granted unprecedented access to Ford's top executives and top-secret company documents. He spent countless hours with Alan Mulally, Bill Ford, the Ford family, former executives, labor leaders, and company directors. In the bestselling tradition of Too Big to Fail and The Big Short, American Icon is narrative nonfiction at its vivid and colorful best.
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Crash Course

The American Automobile Industry's Road to Bankruptcy and Bailout-and Beyond

Author: Paul Ingrassia

Publisher: Random House Incorporated

ISBN: 0812980751

Category: Business & Economics

Page: 306

View: 1726

With an updated Afterword by the author This is the epic saga of the American automobile industry’s rise and demise, a compelling story of hubris, missed opportunities, and self-inflicted wounds that culminates with the president of the United States ushering two of Detroit’s Big Three car companies—once proud symbols of prosperity—through bankruptcy. With unprecedented access, Pulitzer Prize winner Paul Ingrassia takes us from factory floors to small-town dealerships to Detroit’s boardrooms to the White House. Ingrassia answers the big questions: Was Detroit’s self-destruction inevitable? What were the key turning points? Why did Japanese automakers manage American workers better than the American companies themselves did? Complete with a new Afterword providing fresh insights into the continuing upheaval in the auto industry—the travails of Toyota, the revolving-door management and IPO at General Motors, the unexpected progress at Chrysler, and the Obama administration’s stake in Detroit’s recovery—Crash Courseaddresses a critical question: America bailed out GM, but who will bail out America?
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Debt Wish

Entrepreneurial Cities, U.S. Federalism, and Economic Development

Author: Alberta M. Sbragia

Publisher: University of Pittsburgh Press

ISBN: 9780822971740

Category: Business & Economics

Page: 296

View: 2146

Albert Sbragia considers American urban government as an investor whether for building infrastructure or supporting economic development. Over time, such investment has become disconnected from the normal political and administrative processes of local policymaking through the use of special public spending authorities like water and sewer commissions and port, turnpike, and public power authorities. Sbragia explores how this entrepreneurial activity developed and how federal and state policies facilitated or limited it. She also analyzes the implications of cities creating innovative, special-purpose quasi-governments to circumvent and dilute state control over city finances, diluting their own authority in the process.
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Once in a Great City

A Detroit Story

Author: David Maraniss

Publisher: Simon and Schuster

ISBN: 1476748403

Category: History

Page: 464

View: 2406

“A fascinating political, racial, economic, and cultural tapestry” (Detroit Free Press), a tour de force from David Maraniss about the quintessential American city at the top of its game: Detroit in 1963. Detroit in 1963 is on top of the world. The city’s leaders are among the most visionary in America: Grandson of the first Ford; Henry Ford II; Motown’s founder Berry Gordy; the Reverend C.L. Franklin and his daughter, the incredible Aretha; Governor George Romney, Mormon and Civil Rights advocate; car salesman Lee Iacocca; Police Commissioner George Edwards; Martin Luther King. The time was full of promise. The auto industry was selling more cars than ever before. Yet the shadows of collapse were evident even then. “Elegiac and richly detailed” (The New York Times), in Once in a Great City David Maraniss shows that before the devastating riot, before the decades of civic corruption and neglect, and white flight; before people trotted out the grab bag of rust belt infirmities and competition from abroad to explain Detroit’s collapse, one could see the signs of a city’s ruin. Detroit at its peak was threatened by its own design. It was being abandoned by the new world economy and by the transfer of American prosperity to the information and service industries. In 1963, as Maraniss captures it with power and affection, Detroit summed up America’s path to prosperity and jazz that was already past history. “Maraniss has written a book about the fall of Detroit, and done it, ingeniously, by writing about Detroit at its height….An encyclopedic account of Detroit in the early sixties, a kind of hymn to what really was a great city” (The New Yorker).
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Once Upon a Car

The Fall and Resurrection of America's Big Three Automakers--GM, Ford, and Chrysler

Author: Bill Vlasic

Publisher: Harper Collins

ISBN: 006204222X

Category: Business & Economics

Page: 416

View: 3838

Once Upon a Car is the fascinating epic story of the rise, fall, and rebirth of the Big Three U.S. automakers, General Motors, Ford, and Chrysler. Written by Bill Vlasic, the Detroit bureau chief for the New York Times and acclaimed author of Taken for a Ride, this eye-opening, richly anecdotal work is more than a riveting and insightful business history. It offers a clear-eyed view of the present day automobile industry and of Detroit, the city that spawned it, going far beyond the corporate and federal maneuverings to explore the impact the car companies’ failures have had on the overall economy, and more importantly what they have done to people’s lives. Relevant and thought-provoking, Once Upon a Car is an unforgettable journey deep inside this quintessentially American industry.
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Detroit: The Dream Is Now

The Design, Art, and Resurgence of an American City

Author: Michel Arnaud

Publisher: Abrams

ISBN: 1683350030

Category: Photography

Page: 272

View: 1825

Detroit: The Dream Is Now is a visual essay on the rebuilding and resurgence of the city of Detroit by photographer Michel Arnaud, co-author of Design Brooklyn. In recent years, much of the focus on Detroit has been on the negative stories and images of shuttered, empty buildings—the emblems of Detroit’s financial and physical decline. In contrast, Arnaud aims his lens at the emergent creative enterprises and new developments taking hold in the still-vibrant city. The book explores Detroit’s rich industrial and artistic past while giving voice to the dynamic communities that will make up its future. The first section provides a visual tour of the city’s architecture and neighborhoods, while the remaining chapters focus on the developing design, art, and food scenes through interviews and portraits of the city’s entrepreneurs, artists, and makers. Detroit is the story of an American city in flux, documented in Arnaud’s thought-provoking photographs.
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US Guys

The True and Twisted Mind of the American Man

Author: Charlie LeDuff

Publisher: Penguin

ISBN: 9780143113065

Category: Social Science

Page: 242

View: 7897

A Pulitzer Prize-winning New York Times reporter traces his cross-country investigation of the character and quality of the American man, a journey during which he participated in a Bacchanalian Burning Man festival, led a cavalry charge down the Little Bighorn River, infiltrated a fighting biker gang, and more. Reprint.
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A $500 House in Detroit

Rebuilding an Abandoned Home and an American City

Author: Drew Philp

Publisher: Simon and Schuster

ISBN: 147679801X

Category: History

Page: 304

View: 9779

A young college grad buys a house in Detroit for $500 and attempts to restore it—and his new neighborhood—to its original glory in this “deeply felt, sharply observed personal quest to create meaning and community out of the fallen…A standout” (Kirkus Reviews, starred review). Drew Philp, an idealistic college student from a working-class Michigan family, decides to live where he can make a difference. He sets his sights on Detroit, the failed metropolis of abandoned buildings, widespread poverty, and rampant crime. Arriving with no job, no friends, and no money, Philp buys a ramshackle house for five hundred dollars in the east side neighborhood known as Poletown. The roomy Queen Anne he now owns is little more than a clapboard shell on a crumbling brick foundation, missing windows, heat, water, electricity, and a functional roof. A $500 House in Detroit is Philp’s raw and earnest account of rebuilding everything but the frame of his house, nail by nail and room by room. “Philp is a great storyteller…[and his] engrossing” (Booklist) tale is also of a young man finding his footing in the city, the country, and his own generation. We witness his concept of Detroit shift, expand, and evolve as his plan to save the city gives way to a life forged from political meaning, personal connection, and collective purpose. As he assimilates into the community of Detroiters around him, Philp guides readers through the city’s vibrant history and engages in urgent conversations about gentrification, racial tensions, and class warfare. Part social history, part brash generational statement, part comeback story, A $500 House in Detroit “shines [in its depiction of] the ‘radical neighborliness’ of ordinary people in desperate circumstances” (Publishers Weekly). This is an unforgettable, intimate account of the tentative revival of an American city and a glimpse at a new way forward for generations to come.
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Detroit Hustle

A Memoir of Life, Love, and Home

Author: Amy Haimerl

Publisher: Running Press

ISBN: 0762457449

Category: Biography & Autobiography

Page: 256

View: 8532

Journalist Amy Haimerl and her husband had been priced out of their Brooklyn neighborhood. Seeing this as a great opportunity to start over again, they decide to cash in their savings and buy an abandoned house for $35,000 in Detroit, the largest city in the United States to declare bankruptcy. As she and her husband restore the 1914 Georgian Revival, a stately brick house with no plumbing, no heat, and no electricity, Amy finds a community of Detroiters who, like herself, aren’t afraid of a little hard work or things that are a little rough around the edges. Filled with amusing and touching anecdotes about navigating a real-estate market that is rife with scams, finding a contractor who is a lover of C.S. Lewis and willing to quote him liberally, and neighbors who either get teary-eyed at the sight of newcomers or urge Amy and her husband to get out while they can, Amy writes evocatively about the charms and challenges of finding her footing in a city whose future is in question. Detroit Hustle is a memoir that is both a meditation on what it takes to make a house a home, and a love letter to a much-derided city.
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The Man Who Saved New York

Hugh Carey and the Great Fiscal Crisis of 1975

Author: Seymour P. Lachman,Robert Polner

Publisher: SUNY Press

ISBN: 1438434545

Category: Biography & Autobiography

Page: 229

View: 9638

The Man Who Saved New York offers a portrait of one of New York’s most remarkable governors, Hugh L. Carey, with emphasis on his leadership during the fiscal crisis of 1975. In this dramatic and colorful account, Seymour P. Lachman and Robert Polner’s examine Carey’s youth, military service, and public career against the backdrop of a changing, challenged, and recession-battered city, state, and nation. It was Carey’s leadership, Lachman and Polner argue, that helped rescue the city and state from the brink of financial and social ruin. While TV comedians mocked and tabloids shrieked about the Big Apple’s rising muggings, its deteriorating public services, and the threats and walkouts by embattled police, firefighters, and teachers, all amid a brutal recession, Carey and his team managed to hold on and ultimately prevailed, narrowly preventing a huge disruption to the state, national, and global economy. At one point, the city came within a few hours of having to declare itself incapable of paying its debts and obligations, but in the end stability and consensus prevailed, and America’s largest city stayed out of bankruptcy court. The center held. Based on extensive interviews with Carey and his family, as well as numerous friends, observers, and former advisors, including Steven Berger, David Burke, John Dyson, Peter Goldmark, Judah Gribetz, Richard Ravitch, and Felix Rohatyn, The Man Who Saved New York aims to place Carey and his achievements at the center of the financial maelstrom that met his arrival in Albany. While others were willing to let the city go into default, Carey was strongly opposed, since it would not only affect the state as a whole but would have reverberations both nationally and internationally. In recounting the 1975 rescue of New York City and the aftershocks that nearly sank the state government, Lachman and Polner illuminate the often-volatile interplay among elite New York bankers, hard-nosed municipal union leaders, the press, and influential conservatives and liberals from City Hall to the Albany statehouse to the White House. Although often underappreciated by the public, it was Carey’s force of will, wit, intellect, judgment, and experiences that allowed the state to survive this unparalleled ordeal and ultimately to emerge on a stronger footing. Further, Lachman and Polner argue, Carey’s accomplishment is worth recalling as a prime example of how governments—local, state, and federal—can work to avoid the renewed the threat of bankruptcy that now confronts many overstretched states and localities.
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Terror in the City of Champions

Murder, Baseball, and the Secret Society that Shocked Depression-era Detroit

Author: Tom Stanton

Publisher: Rowman & Littlefield

ISBN: 1493018183

Category: History

Page: 320

View: 502

A New York Times Bestseller Detroit, mid-1930s: In a city abuzz over its unrivaled sports success, gun-loving baseball fan Dayton Dean became ensnared in the nefarious and deadly Black Legion. The secretive, Klan-like group was executing a wicked plan of terror, murdering enemies, flogging associates, and contemplating armed rebellion. The Legion boasted tens of thousands of members across the Midwest, among them politicians and prominent citizens—even, possibly, a beloved athlete. Terror in the City of Champions opens with the arrival of Mickey Cochrane, a fiery baseball star who roused the Great Depression’s hardest-hit city by leading the Tigers to the 1934 pennant. A year later he guided the team to its first championship. Within seven months the Lions and Red Wings follow in football and hockey—all while Joe Louis chased boxing’s heavyweight crown. Amidst such glory, the Legion’s dreadful toll grew unchecked: staged “suicides,” bodies dumped along roadsides, high-profile assassination plots. Talkative Dayton Dean’s involvement would deepen as heroic Mickey’s Cochrane’s reputation would rise. But the ballplayer had his own demons, including a close friendship with Harry Bennett, Henry Ford’s brutal union buster. Award-winning author Tom Stanton weaves a stunning tale of history, crime, and sports. Richly portraying 1930s America, Terror in the City of Champions features a pageant of colorful figures: iconic athletes, sanctimonious criminals, scheming industrial titans, a bigoted radio priest, a love-smitten celebrity couple, J. Edgar Hoover, and two future presidents, Gerald Ford and Ronald Reagan. It is a rollicking true story set at the confluence of hard luck, hope, victory, and violence. .
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Indelible Ink: The Trials of John Peter Zenger and the Birth of Americas Free Press

Author: Richard Kluger

Publisher: W. W. Norton & Company

ISBN: 0393245470

Category: History

Page: 352

View: 6455

“Vivid storytelling built on exacting research.”—Bill Keller, New York Times Book Review The liberty of expression has been fixed in the firmament of our social values since our nation’s beginning—the United States was the first government to legalize free speech and a free press as fundamental rights. But when the British began colonizing the New World, any words, true or false, thought to disparage the government were judged as criminally subversive. So when in 1733 a small newspaper, the New-York Weekly Journal, printed scathing articles assailing the new British governor, William Cosby, as corrupt and abusive, colonial New York was scandalized. The paper’s publisher, John Peter Zenger — only a front man for Cosby’s adversaries, New York Supreme Court Chief Justice Lewis Morris and the shrewd attorney James Alexander — became the endeavor’s courageous fall guy when Cosby brought the full force of his high office down upon it. Zenger faced a jury on August 4, 1735, in a proceeding matched in importance during the colonial period only by the Salem Witch Trials. In Indelible Ink, acclaimed social historian Richard Kluger re-creates in rich detail this dramatic clash of powerful antagonists that marked the beginning of press freedom in America. Here is an enduring lesson that resounds to this day on the vital importance of free public expression as the underpinning of democracy.
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Detroit

An American Autopsy

Author: Charlie LeDuff

Publisher: Penguin

ISBN: 110160588X

Category: Biography & Autobiography

Page: 304

View: 5904

An explosive exposé of America’s lost prosperity—from Pulitzer Prize­–winning journalist Charlie LeDuff Back in his broken hometown, Pulitzer Prize-winning journalist Charlie LeDuff searches the ruins of Detroit for clues to his family’s troubled past. Having led us on the way up, Detroit now seems to be leading us on the way down. Once the richest city in America, Detroit is now the nation’s poorest. Once the vanguard of America’s machine age—mass-production, blue-collar jobs, and automobiles—Detroit is now America’s capital for unemployment, illiteracy, dropouts, and foreclosures. With the steel-eyed reportage that has become his trademark, and the righteous indignation only a native son possesses, LeDuff sets out to uncover what destroyed his city. He beats on the doors of union bosses and homeless squatters, powerful businessmen and struggling homeowners and the ordinary people holding the city together by sheer determination. Detroit: An American Autopsy is an unbelievable story of a hard town in a rough time filled with some of the strangest and strongest people our country has to offer.
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The Life of the Automobile

The Complete History of the Motor Car

Author: Steven Parissien

Publisher: Macmillan

ISBN: 1466836237

Category: Transportation

Page: 448

View: 7638

The Life of the Automobile is the first comprehensive world history of the car. The automobile has arguably shaped the modern era more profoundly than any other human invention, and author Steven Parissien examines the impact, development, and significance of the automobile over its turbulent and colorful 130-year history. Readers learn the grand and turbulent history of the motor car, from its earliest appearance in the 1880s—as little more than a powered quadricycle—and the innovations of the early pioneer carmakers. The author examines the advances of the interwar era, the Golden Age of the 1950s, and the iconic years of the 1960s to the decades of doubt and uncertainty following the oil crisis of 1973, the global mergers of the 1990s, the bailouts of the early twenty-first century, and the emergence of the electric car. This is not just a story of horsepower and performance but a tale of extraordinary people: of intuitive carmakers such as Karl Benz, Sir Henry Royce, Giovanni Agnelli (Fiat), André Citroën, and Louis Renault; of exceptionally gifted designers such as the eccentric, Ohio-born Chris Bangle (BMW); and of visionary industrialists such as Henry Ford, Ferdinand Porsche (the Volkswagen Beetle), and Gene Bordinat (the Ford Mustang), among numerous other game changers. Above all, this comprehensive history demonstrates how the epic story of the car mirrors the history of the modern era, from the brave hopes and soaring ambitions of the early twentieth century to the cynicism and ecological concerns of a century later. Bringing to life the flamboyant entrepreneurs, shrewd businessmen, and gifted engineers that worked behind the scenes to bring us horsepower and performance, The Life of the Automobile is a globe-spanning account of the auto industry that is sure to rev the engines of entrepreneurs and gearheads alike.
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Living Virtuously

A Wifes Complete Guide to Keeping Her Heart & Home

Author: Erin Harrison

Publisher: N.A

ISBN: 9780990694502

Category: Homemakers

Page: 336

View: 7830

Living virtuously does not mean perfection. It means learning contentment, choosing joy, and being teachable. Victory and virtue are gifts given to those who persevere on their own journey that God has given no matter what life may bring. In this book, we will journey together through Proverbs 31 in the Bible, discovering the traits of a Virtuous Woman. I will take you from the spiritual to the practical, giving you a complete, well-rounded perspective of what it means to keep your heart and your home."--back cover.
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