![]() Young International Airport, or City Airport, as it was originally known. ![]() By shedding assets, the city can generate or save revenue that might best be used reimbursing creditors - including retirees and pension funds.Ī good example of such an asset can be found at the city-owned Coleman A. Redeploying assets is an important argument to consider, particularly in light of recent news that the city has presented its plan of adjustment to creditors. Today Detroit struggles to recover from a different kind of disaster: Bankruptcy.ĭetroit's modern downfall came not from natural events, but from adopting financially ruinous policies, continual mismanagement, and failing to change course, even in the presence of clear signals foretelling a future fiscal collapse.īut one way to move Detroit forward during and after bankruptcy is by unloading municipal assets, especially the assets that have been dragging the city down. In 1805, a calamitous fire destroyed the young city of Detroit, giving rise to the city’s motto, “ Speramus Meliora Resurget Cineribus” - “We Hope For Better Things It Shall Rise From the Ashes.”
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