Detroit creditors brace for haircuts, or worse, at meeting to avoid bankruptcy. “…reports say that [Detroit emergency manager Kevyn] Orr will push creditors in his restructuring report to take as little as 10 cents for each dollar the city owes.” If they balk, they may get LESS in court if the city files for Chapter 9 bankruptcy. The first dead canary in the coal mine…
Author: Bonfire of the Absurdities
After 35 year career writing software for IBM mainframes, am now self-employed contractor thinking of joining a union and striking for higher wages. Cured morbid fear of heights when I learned to look at them as lengths standing on end. Uncompromising in refusal to accept browser cookies. Amateur investor who has accumulated a small fortune in the market after starting out years ago with a large one. For recreation, I run, hike, kayak and play tennis but will not consider synchronized swimming under any circumstances.
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