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‘We Earned Our Pensions’

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Gail Turner (left) and Brenda Goss Andrews have both given decades of service to the city of Detroit. – Andre Smith photos

Roughly 25,000 retirees stand to lose their pensions and health care in a city that is in bankruptcy now, trying to decipher its future in bankruptcy court.

That is the message leaders of the Retired Detroit Police Members

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  • Written by The Michigan Chronicle
  • Category: Detroit

Chrysler Files For IPO

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Chrysler Group filed for an initial public offering on Monday, potentially setting the stage for the automaker's return to the public market.
The shares being sold in the proposed offering come from the stake of a trust established to cover medical benefits for retired workers that now owns 41.5% of the company.

The trust was set up in 2007 as a way

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  • Written by The Michigan Chronicle
  • Category: Detroit

President Obama remains the Tough Guy after Syrian Deal is Reached

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In any movie, tv show or book, the toughest guy is always the one that never actually has to draw his weapon. In old western movies, you always knew who the tough guy was, he just walked into the bar and everybody started finishing their drinks and running. You watch “The Wire” and all somebody had to yell was “Omar’s coming” and folks scattered. B

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  • Written by The Michigan Chronicle
  • Category: Detroit

Detroit’s Casino-Tax Dollars Become Big Issue in Bankruptcy Case

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Detroit had a bit of rare good fortune as it hurtled toward bankruptcy last summer — a couple of banks were willing to let it out of some expensive financial contracts, called interest-rate swaps, without paying in full the usual steep termination fees.

But since then, an insurance company has been seeking to block the deal, lining up allies among

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  • Written by The Michigan Chronicle
  • Category: Detroit