Detroit Businesses See Opportunity In Bankruptcy

NPR: July 20, 2013

Few Detroiters think the largest municipal bankruptcy in U.S. history is great news. But plenty see it as an opportunity. Many Detroit business owners hope the bankruptcy will mean more stability and certainty, in a city that has had little of either in recent years. Sandy Baruah, head of the Detroit Regional Chamber, says the bankruptcy filing did not come as a surprise to him, nor should it surprise anybody else.

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Business leaders paint bankruptcy as step toward stronger Detroit; investors not so sure

Detroit Free Press: July 19, 2013

Local business leaders Friday portrayed Detroit’s bankruptcy as a painful but necessary, and ultimately positive, step toward positioning the city for new growth. Wall Street investors weren’t so optimistic. Analysts from the municipal bond market voiced fears that Detroit’s defaulting on its debts may make it harder for other municipalities in Michigan to borrow what they need.

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Why Business Is Cheering Detroit’s Bankruptcy

Forbes: July 18, 2013

Nobody wants to undergo surgery. But if you need it, there’s no point putting it off. All you want is to get through it quickly and be healthy afterwards. That pretty much sums up the view of Detroit business leaders after the city’s historic bankruptcy filing Thursday afternoon, according to Sandy Baruah, president of the Detroit Regional Chamber of Commerce.

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