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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]
Starting in mid-2025, those that live in the city can pay expenses owed to Detroit with currencies like bitcoin as part of the government's push to become more compatible with blockchain technology.
Khouri served as Michigan State Treasurer after being appointed by Governor Rick Snyder. He served in this position from April 20, 2015 until his resignation in 2018. [3] [5] On December 13, 2019, Detroit mayor Mike Duggan appointed Khouri as the city's economic development chief.
(CBS DETROIT) - Beginning in 2025, Detroiters will have the option to pay their taxes and other city fees with cryptocurrency, the city announced Thursday, making Detroit the largest city in the U ...
In 1980, in his capacity as Michigan Treasurer, he signed a deal with Chrysler CEO Lee A. Iacocca, where the treasury loaned $150 million to the company, which was facing hardship. In 1985, Monroe helped form the firm Pierce, Monroe & Associates, LLC. with Phil Pierce. In 2004, Monroe unsuccessfully ran for the Detroit City Council.
Detroit’s population even increased slightly in 2023. It was the first uptick since the 1950s when 1.8 million people called the city home. “I feel like I did what I set out to do,” Duggan ...
In 1933 during the Great Depression, the Burroughs Adding Machine Co. lent Cobo, an accountant, to the city for six months to help it fix its troubled books. [1] He subsequently ran for and was elected Detroit City Treasurer in 1935. [1] As treasurer he helped keep tax-delinquent Detroiters in their homes through a seven-year tax payment plan.
Born in the city, Duggan, 66, has spent his career focused on addressing issues like transportation, job access, blight, health care and crime in Detroit, according to the Detroit Regional Chamber.