#notagrandbargain

[postindustrialcity]

1. This explains why parking tickets in the city of Detroit are now $45 (they used to be $10 if you paid right away). 

2. The solution is to monetize parking, which is a fancy way of saying they would like to privatize the system. Notice there is no explanation on how this actually makes the city money. 

[postindustrialcity]

Detroit's Bankruptcy Disclosure Statement

It's 440 pages of juicy opportunities for textual analysis. I will present quotes from this as I read it as it is fascinating. The full PDF may be found here.

FORWARD-LOOKING STATEMENTS

"This Disclosure Statement contains forward-looking statements based primarily on the current expectations of the City and projections about future events and financial trends affecting the financial condition of the City and its assets. The words "believe," "may," "estimate," "continue," "anticipate," "intend," "expect" and similar expressions identify these forward-looking statements. These forward-looking statements are subject to a number of risks, uncertainties and assumptions, including those described below under the caption "Risk Factors" in Section XII. In light of these risks and uncertainties, the forward-looking events and trends discussed in this Disclosure Statement may not occur, and actual results could differ materially from those anticipated in the forward-looking statements. The City does not undertake any obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise."

Translation: We will be talking out of our butts throughout this thing, so don't hold it against us when our data don't mean a thing.