When Emergency Manager Kevyn Orr's team today holds the first of several meetings with Detroit's unions and pensions funds, a single paragraph in the Michigan Constitution will hang over the proceedings.
Quicken Loans Inc. Chairman Dan Gilbert isn't letting the real prospect of Chapter 9 bankruptcy for Detroit cloud his vision for downtown.
Emergency Manager Kevyn Orr's proposed restructuring for Detroit aims to deliver bitter financial medicine to bondholders, unions and pension funds even as it spares imperiled assets considered vital to rebuilding the city.
He's 41 and holds a top job for the Detroit Water and Sewerage Department that pays him $194,000, but Matthew Schenk apparently is fixin' to start drawing a $96,000 pension due him from a top job at Wayne County. Nice work, that.
The scale of Detroit's reckoning, decades in the making, will unspool Friday in an airport hotel.
Emergency Manager Kevyn Orr's Friday meeting with Detroit's creditors is the first move in contentious negotiations with lenders, bondholders, insurers, unions and pension funds to avert the largest Chapter 9 bankruptcy in American history.
Detroit finally is seeing the price tag for its chronic political dysfunction, and the potential cost is staggering.
When Dan Akerson stands before General Motors Co. shareholders at their annual meeting Thursday, one thing will be undeniably true: The company he leads is markedly different than it was 12 months ago.
To hear Bill Pulte Jr. tell it, no one whose name is on the place knew in advance that the homebuilder founded by his grandfather in 1950 secretly planned to move its corporate headquarters to Atlanta from Bloomfield Hills.
The public spat between Gov. Rick Snyder and the Detroit Institute of Arts to determine whether its city-owned collection should be off-limits in a Chapter 9 bankruptcy risks providing useful fodder to creditors expected to demand cash to satisfy the city's obligations.
Mackinac Island — John Murphy's seen a lot of business cycles roil the auto industry, but none looks quite like the one just beginning to generate fat profits, growing market share and the prospect of more to come for Detroit's automakers.
Four years into Detroit's automotive revival and two-plus years into a fiscal re-engineering in Lansing, the hard work is beginning to pay handsome dividends for Michigan and to buoy the confidence of its business community.
The exodus from Detroit continues, the Census Bureau says, more feet-on-the-ground evidence that the city's chronic mismanagement is perpetuating a problem years in the making.
Metro Detroit's mega-hospital merger may be dead, but the forces that pushed Beaumont Health Systems into the arms of its larger rival, Henry Ford, are very much alive.
The threat of Chapter 9 bankruptcy for Michigan's largest city isn't squelching ideas whose times are overdue.
Emergency Manager Kevyn Orr’s 45-day report on Detroit’s financial condition, coming Monday, will be a series of messages to lenders, unions and pension funds. ...
Roger Penske just smiles. "It's not gonna happen again," the industrialist-cum-racing impresario said Wednesday, recalling the track fiasco at last year's ...
Whatever Dave Bing decides about running for a second term, the NBA great-turned-politician will end his four-plus years as Detroit mayor with a mixed record.
Business / Economy / Politics / Autos
Daniel Howes is business columnist and associate business editor of The Detroit News. From 1999 to January 2003, he was based in Germany as The News' European correspondent and automotive columnist, reporting from more than 20 countries on three continents. Before heading to Europe, Howes was senior automotive writer and an investigative and projects reporter on the business desk. He came to Detroit in 1993 from The Roanoke Times in Virginia, where he covered business, politics and higher education. His column runs Tuesdays, Thursdays and Fridays. Reach him at firstname.lastname@example.org or through his blog.
More on Daniel Howes
- On media: He is a regular contributor to NewsTalk 760-WJR in Detroit and NPR's Michigan Radio, based in Ann Arbor. He appears often on radio and television locally, in the United States and overseas.
- On education: He holds a bachelor's degree in history from the College of Wooster in Ohio, and a master's in international affairs from Columbia University.
- On awards: Winner of multiple International Wheel Awards for column writing; a four-time winner of Northwestern University's Medill award for general markets coverage; a three-time finalist for the prestigious Gerald Loeb Awards, including an honorable mention for commentary in 2007; and winner of a Society of Business Editors and Writers award for commentary in 2012.
- Detroit Financial Review Final Report (PDF)
- Detroit Renaissance: Structural Reform Agenda (PDF)
- Road to Renaissance Report (PDF)
- University of Michigan Economic Outlook (PDF)
- Michigan Future Inc.: New Agenda for a New Michigan (PDF)
- U-M's Millenium Project: Roadmap to Michigan's Future
- Brookings Institution study: The Vital Center (PDF)
- Michigan Emergency Fiscal Memo
- Angelique Chengelis
- Terry Foster
- Tom Gage
- Jerry Green
- Lynn Henning
- Ted Kulfan
- Tom Markowski
- Chris McCosky
- John Niyo
- Bob Wojnowski
- Donna Terek
- Editorial + Opinion
- Nolan Finley
- Paul W. Smith
- Frank Beckmann
- George Will
- Thomas Sowell
- Froma Harrop
- Charles Krauthammer
- Clarence Page
- Kathleen Parker
- Michael Barone
More from The Detroit News
Purchase Detroit News images of historic events, scenes, places and people.Go to the PhotoStore
Stay up to date on the go with the latest from The Detroit News apps
Our apps connect you with the best news, sports, auto and entertainment coverage from our team of award-winning journalists.