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Details from the Detroit bankruptcy filing. The city of Detroit, Michigan, filed for Chapter 9 bankruptcy on July 18, 2013. It is the largest municipal bankruptcy filing in U.S. history by debt, estimated at $18–20 billion, exceeding Jefferson County, Alabama's $4-billion filing in 2011. [1]
The Detroit Aircraft Corporation was incorporated in Detroit, Michigan on July 10, 1922, as the Aircraft Development Corporation. [1] The name was changed in 1929. [2] [3]The Detroit corporation owned the entire capital stock of the Ryan Aircraft Corp., Aircraft Development Corp., Aviation Tool Co., Grosse Ile Airport, Inc., Marine Aircraft Corp., Park's Air College and Affiliated Companies ...
On July 18, 2013, the restructuring expert did just that, making Detroit the largest city in the U.S. to file for bankruptcy. “Bankruptcy is a miserable process," Orr, 65, told The Associated ...
By the time Detroit declared bankruptcy at 4:06 p.m. on July 18, 2013, Detroit had accumulated $18 billion in debt and city retirees' pension funds were underfunded by $3.5 billion. The number of ...
Detroit auto show begins. Area of city: 41 square miles. 1909 - Ford Building constructed. 1911: Chevrolet opens its first factory in Detroit. This was significant in the birth of Detroit as the center of the American automobile industry, something that became huge in the city's economy and overall identity. 1912 Navin Field (baseball park) opens.
In 2013, Detroit had some 21,000 retired workers who were owed benefits, with underfunded obligations of about $3.5 billion for pensions and $5.7 billion for retiree health coverage.
On Saturday 19 November 1949 a Douglas C-47A-90DL (DC-3) operated by Meteor Air Transport NC54337 crashed into a house on Detroit’s east side while on a (second attempt) landing approach to Detroit City Airport. Both pilots and one occupant of the house were killed.
The 17th annual OC Air Show will host a special international edition from Aug. 24-25, 2024. Here's everything to know about tickets, now on sale.