Detroit: A Case Study in Changing a City's Fortunes
Monday, April 27, 2015 / 2:30 pm - 3:30 pm
, U.S. Managing Editor and Columnist, Financial Times
, Founder and Chairman, Quicken Loans and Rock Ventures; Majority Owner, NBA Cleveland Cavaliers
Once one of America's most important and vibrant cities, Detroit has suffered a slow but steady decline in recent decades as manufacturing jobs, companies and residents found greener pastures elsewhere. The low point occurred in 2013, when the city filed for bankruptcy protection -- the largest municipal case in U.S. history. After more than a year of intense negotiations, a plan was approved in late 2014 to finally exit bankruptcy. Experts on this panel -- people directly involved in the proceedings and others working to turn around the city's fortunes -- will discuss how the bankruptcy plan was hatched and how it was resolved. More important, they will look at Detroit's future and how the deal to address the debt will help. Is Detroit a model for how cities can manage their economic troubles? How can it, as well as other places struggling with the impact of globalization, crime and fiscal stress, recover?