• History

Detroit Resurrected: To Bankruptcy and Back


Author: Nathan Bomey
Publisher: W. W. Norton & Company
ISBN: 0393248925
Category: History
Page: 320
View: 9539
What happens when an iconic American city goes broke? At exactly 4:06 p.m. on July 18, 2013, the city of Detroit filed for bankruptcy. It was the largest municipal bankruptcy in American history—the Motor City had finally hit rock bottom. But what led to that fateful day, and how did the city survive the perilous months that followed? In Detroit Resurrected, Nathan Bomey delivers the inside story of the fight to save Detroit against impossible odds. Bomey, who covered the bankruptcy for the Detroit Free Press, provides a gripping account of the tremendous clash between lawyers, judges, bankers, union leaders, politicians, philanthropists, and the people of Detroit themselves. The battle to rescue this iconic city pulled together those who believed in its future—despite their differences. Help came in the form of Republican governor Rick Snyder, a technocrat who famously called himself “one tough nerd”; emergency manager Kevyn Orr, a sharp-shooting lawyer and “yellow-dog Democrat”; and judges Steven Rhodes and Gerald Rosen, the key architects of the grand bargain that would give the city a second chance at life. Detroit had a long way to go. Facing a legacy of broken promises, the city had to seek unprecedented sacrifices from retirees and union leaders, who fought for their pensions and benefits. It had to confront the consequences of years of municipal corruption while warding off Wall Street bond insurers who demanded their money back. And it had to consider liquidating the Detroit Institute of Arts, whose world-class collection became an object of desire for the city’s numerous creditors. In a tight, suspenseful narrative, Detroit Resurrected reveals the tricky path to rescuing the city from $18 billion in debt and giving new hope to its citizens. Based on hundreds of exclusive interviews, insider sources, and thousands of records, Detroit Resurrected gives a sweeping account of financial ruin, backroom intrigue, and political rebirth in the struggle to reinvent one of America’s iconic cities.

    • History

Detroit Resurrected

To Bankruptcy and Back
Author: Nathan Bomey
Publisher: W. W. Norton
ISBN: 9780393354430
Category: History
Page: 320
View: 1177
What happens when an iconic American city goes broke?

Detroit Resurrected

To Bankruptcy and Back
Author: Nathan Bomey
Publisher: N.A
ISBN: 9780393248913
Category:
Page: 320
View: 434

    • Architecture

Detroit City Is the Place to Be

The Afterlife of an American Metropolis
Author: Mark Binelli
Publisher: Macmillan
ISBN: 1250039231
Category: Architecture
Page: 352
View: 1693
"The fall and maybe rise of Detroit, America's most epic urban failure, from local native and Rolling Stone reporter Mark BinelliOnce America's capitalist dream town, Detroit is our country's greatest urban failure, having fallen the longest and the farthest. But the city's worst crisis yet (and that's saying something) has managed to do the unthinkable: turn the end of days into a laboratory for the future. Urban planners, land speculators, neo-pastoral agriculturalists, and utopian environmentalists--all have been drawn to Detroit's baroquely decaying, nothing-left-to-lose frontier. With an eye for both the darkly absurd and the radically new, Detroit-area native and Rolling Stone writer Mark Binelli has chronicled this convergence. Throughout the city's "museum of neglect"--its swaths of abandoned buildings, its miles of urban prairie--he tracks the signs of blight repurposed, from the school for pregnant teenagers to the killer ex-con turned street patroller, from the organic farming on empty lots to GM's wager on the Volt electric car and the mayor's realignment plan (the most ambitious on record) to move residents of half-empty neighborhoods into a viable, new urban center.Sharp and impassioned, Detroit City Is the Place to Be is alive with the sense of possibility that comes when a city hits rock bottom. Beyond the usual portrait of crime, poverty, and ruin, we glimpse a future Detroit that is smaller, less segregated, greener, economically diverse, and better functioning--what might just be the first post-industrial city of our new century"--

    • Business & Economics

Crash Course

The American Automobile Industry's Road to Bankruptcy and Bailout-and Beyond
Author: Paul Ingrassia
Publisher: Random House Incorporated
ISBN: 0812980751
Category: Business & Economics
Page: 306
View: 9161
With an updated Afterword by the author This is the epic saga of the American automobile industry’s rise and demise, a compelling story of hubris, missed opportunities, and self-inflicted wounds that culminates with the president of the United States ushering two of Detroit’s Big Three car companies—once proud symbols of prosperity—through bankruptcy. With unprecedented access, Pulitzer Prize winner Paul Ingrassia takes us from factory floors to small-town dealerships to Detroit’s boardrooms to the White House. Ingrassia answers the big questions: Was Detroit’s self-destruction inevitable? What were the key turning points? Why did Japanese automakers manage American workers better than the American companies themselves did? Complete with a new Afterword providing fresh insights into the continuing upheaval in the auto industry—the travails of Toyota, the revolving-door management and IPO at General Motors, the unexpected progress at Chrysler, and the Obama administration’s stake in Detroit’s recovery—Crash Courseaddresses a critical question: America bailed out GM, but who will bail out America?

    • History

Once in a Great City

A Detroit Story
Author: David Maraniss
Publisher: Simon and Schuster
ISBN: 1476748403
Category: History
Page: 464
View: 9738
“A fascinating political, racial, economic, and cultural tapestry” (Detroit Free Press), a tour de force from David Maraniss about the quintessential American city at the top of its game: Detroit in 1963. Detroit in 1963 is on top of the world. The city’s leaders are among the most visionary in America: Grandson of the first Ford; Henry Ford II; Motown’s founder Berry Gordy; the Reverend C.L. Franklin and his daughter, the incredible Aretha; Governor George Romney, Mormon and Civil Rights advocate; car salesman Lee Iacocca; Police Commissioner George Edwards; Martin Luther King. The time was full of promise. The auto industry was selling more cars than ever before. Yet the shadows of collapse were evident even then. “Elegiac and richly detailed” (The New York Times), in Once in a Great City David Maraniss shows that before the devastating riot, before the decades of civic corruption and neglect, and white flight; before people trotted out the grab bag of rust belt infirmities and competition from abroad to explain Detroit’s collapse, one could see the signs of a city’s ruin. Detroit at its peak was threatened by its own design. It was being abandoned by the new world economy and by the transfer of American prosperity to the information and service industries. In 1963, as Maraniss captures it with power and affection, Detroit summed up America’s path to prosperity and jazz that was already past history. “Maraniss has written a book about the fall of Detroit, and done it, ingeniously, by writing about Detroit at its height….An encyclopedic account of Detroit in the early sixties, a kind of hymn to what really was a great city” (The New Yorker).

    • Business & Economics

Debt Wish

Entrepreneurial Cities, U.S. Federalism, and Economic Development
Author: Alberta M. Sbragia
Publisher: University of Pittsburgh Press
ISBN: 9780822971740
Category: Business & Economics
Page: 296
View: 2327
Albert Sbragia considers American urban government as an investor whether for building infrastructure or supporting economic development. Over time, such investment has become disconnected from the normal political and administrative processes of local policymaking through the use of special public spending authorities like water and sewer commissions and port, turnpike, and public power authorities. Sbragia explores how this entrepreneurial activity developed and how federal and state policies facilitated or limited it. She also analyzes the implications of cities creating innovative, special-purpose quasi-governments to circumvent and dilute state control over city finances, diluting their own authority in the process.

    • Social Science

After the Fact

The Erosion of Truth and the Inevitable Rise of Donald Trump
Author: Nathan Bomey
Publisher: Prometheus Books
ISBN: 1633883787
Category: Social Science
Page: 270
View: 7601
This trenchant analysis examines the many ways our society's increasingly tenuous commitment to facts laid the groundwork for Donald Trump's rise to power. Award-winning journalist Nathan Bomey argues that Trump did not usher the post-truth era into being. He was its inevitable outcome. Bomey points to recent trends that have created the perfect seedbed for spin, distortion, deception, and bald-faced lies: shifting news habits, the rise of social media, the spread of entrenched ideologies, and the failure of schools to teach basic critical-thinking skills The evidence supporting the author's argument is all around us: On Facebook, we present images of our lives that ignore the truth and intentionally deceive our friends and family. We consume fake news stories online and carelessly circulate false rumors. In politics, we vote for leaders who leverage political narratives that favor ideology over science. And in our schools, we fail to teach students how to authenticate information. After the Fact explores how the convergence of technology, politics, and media has ushered in the misinformation age, sidelining the truth and threatening our core principle of community.

    • Business & Economics

Investing in the High Yield Municipal Market

How to Profit from the Current Municipal Credit Crisis and Earn Attractive Tax-Exempt Interest Income
Author: Triet Nguyen
Publisher: John Wiley & Sons
ISBN: 1118240111
Category: Business & Economics
Page: 288
View: 5453
A practical guide to profiting from the high yield municipal market This unique guide to the high yield municipal bond market sheds some much-needed light on this esoteric but profitable corner of the fixed-income world. It fills the void between the general reference handbooks on municipal bonds and the superficial treatment of do-it-yourself bond guides, with an emphasis on practical trading applications. Having witnessed the beginning of the modern high yield tax-exempt institutional market, author Triet Nguyen documents its historical evolution, outlines a conceptual framework for high yield tax-free investing, one that takes into account both interest rate and credit cycles, and reviews the latest historical data on municipal defaults, including for the first time the non-rated sector. Current distressed opportunities are also discussed. Along the way, Nguyen takes the time to discuss in detail the pros and cons of investing in pre-packaged high yield vehicles—from mutual funds to hedge funds to exchange-traded funds—with frank and objective insider tips on how these slickly marketed products really work. For the truly committed investor who wants to do his or her own homework, Nguyen and a group of industry experts go over the key investment considerations for several major classes of high yield tax-exempt bonds. Offers unique insights into the risk/return, trading, and liquidity characteristics of high yield municipal instruments Includes interesting case studies to fully illustrate the high yield investing process Written by an insider of both the asset management industry and the broker-dealer community Investing in the High Yield Municipal Market will put you in a better position to profit in this arena and help you excel in today's tough financial environment.

    • Photography

Detroit: The Dream Is Now

The Design, Art, and Resurgence of an American City
Author: Michel Arnaud
Publisher: Abrams
ISBN: 1683350030
Category: Photography
Page: 272
View: 8895
Detroit: The Dream Is Now is a visual essay on the rebuilding and resurgence of the city of Detroit by photographer Michel Arnaud, co-author of Design Brooklyn. In recent years, much of the focus on Detroit has been on the negative stories and images of shuttered, empty buildings—the emblems of Detroit’s financial and physical decline. In contrast, Arnaud aims his lens at the emergent creative enterprises and new developments taking hold in the still-vibrant city. The book explores Detroit’s rich industrial and artistic past while giving voice to the dynamic communities that will make up its future. The first section provides a visual tour of the city’s architecture and neighborhoods, while the remaining chapters focus on the developing design, art, and food scenes through interviews and portraits of the city’s entrepreneurs, artists, and makers. Detroit is the story of an American city in flux, documented in Arnaud’s thought-provoking photographs.

    • Business & Economics

American Icon

Alan Mulally and the Fight to Save Ford Motor Company
Author: Bryce G. Hoffman
Publisher: Crown Business
ISBN: 0307886069
Category: Business & Economics
Page: 422
View: 8952
THE INSIDE STORY OF THE EPIC TURNAROUND OF FORD MOTOR COMPANY UNDER THE LEADERSHIP OF CEO ALAN MULALLY. At the end of 2008, Ford Motor Company was just months away from running out of cash. With the auto industry careening toward ruin, Congress offered all three Detroit automakers a bailout. General Motors and Chrysler grabbed the taxpayer lifeline, but Ford decided to save itself. Under the leadership of charismatic CEO Alan Mulally, Ford had already put together a bold plan to unify its divided global operations, transform its lackluster product lineup, and overcome a dys­functional culture of infighting, backstabbing, and excuses. It was an extraordinary risk, but it was the only way the Ford family—America's last great industrial dynasty—could hold on to their company. Mulally and his team pulled off one of the great­est comebacks in business history. As the rest of Detroit collapsed, Ford went from the brink of bankruptcy to being the most profitable automaker in the world. American Icon is the compelling, behind-the-scenes account of that epic turnaround. On the verge of collapse, Ford went outside the auto industry and recruited Mulally—the man who had already saved Boeing from the deathblow of 9/11—to lead a sweeping restructuring of a company that had been unable to overcome decades of mismanage­ment and denial. Mulally applied the principles he developed at Boeing to streamline Ford's inefficient operations, force its fractious executives to work together as a team, and spark a product renaissance in Dearborn. He also convinced the United Auto Workers to join his fight for the soul of American manufacturing. Bryce Hoffman reveals the untold story of the covert meetings with UAW leaders that led to a game-changing contract, Bill Ford's battle to hold the Ford family together when many were ready to cash in their stock and write off the company, and the secret alliance with Toyota and Honda that helped prop up the Amer­ican automotive supply base. In one of the great management narratives of our time, Hoffman puts the reader inside the boardroom as Mulally uses his celebrated Business Plan Review meet­ings to drive change and force Ford to deal with the painful realities of the American auto industry. Hoffman was granted unprecedented access to Ford's top executives and top-secret company documents. He spent countless hours with Alan Mulally, Bill Ford, the Ford family, former executives, labor leaders, and company directors. In the bestselling tradition of Too Big to Fail and The Big Short, American Icon is narrative nonfiction at its vivid and colorful best.

    • Business & Economics

Once Upon a Car

The Fall and Resurrection of America's Big Three Automakers--GM, Ford, and Chrysler
Author: Bill Vlasic
Publisher: Harper Collins
ISBN: 006204222X
Category: Business & Economics
Page: 416
View: 4708
Once Upon a Car is the fascinating epic story of the rise, fall, and rebirth of the Big Three U.S. automakers, General Motors, Ford, and Chrysler. Written by Bill Vlasic, the Detroit bureau chief for the New York Times and acclaimed author of Taken for a Ride, this eye-opening, richly anecdotal work is more than a riveting and insightful business history. It offers a clear-eyed view of the present day automobile industry and of Detroit, the city that spawned it, going far beyond the corporate and federal maneuverings to explore the impact the car companies’ failures have had on the overall economy, and more importantly what they have done to people’s lives. Relevant and thought-provoking, Once Upon a Car is an unforgettable journey deep inside this quintessentially American industry.

    • Social Science

US Guys

The True and Twisted Mind of the American Man
Author: Charlie LeDuff
Publisher: Penguin
ISBN: 9780143113065
Category: Social Science
Page: 242
View: 4002
A Pulitzer Prize-winning New York Times reporter traces his cross-country investigation of the character and quality of the American man, a journey during which he participated in a Bacchanalian Burning Man festival, led a cavalry charge down the Little Bighorn River, infiltrated a fighting biker gang, and more. Reprint.

    • Political Science

The Oath and the Office: A Guide to the Constitution for Future Presidents


Author: Corey Brettschneider
Publisher: W. W. Norton & Company
ISBN: 0393652130
Category: Political Science
Page: 224
View: 7636
An essential guide to the presidential powers and limits of the Constitution, for anyone voting—or running—for our highest office. Can the president launch a nuclear attack without congressional approval? Is it ever a crime to criticize the president? Can states legally resist a president’s executive order? In today’s fraught political climate, it often seems as if we must become constitutional law scholars just to understand the news from Washington, let alone make a responsible decision at the polls. The Oath and the Office is the book we need, right now and into the future, whether we are voting for or running to become president of the United States. Constitutional law scholar and political science professor Corey Brettschneider guides us through the Constitution and explains the powers—and limits—that it places on the presidency. From the document itself and from American history’s most famous court cases, we learn why certain powers were granted to the presidency, how the Bill of Rights limits those powers, and what “we the people” can do to influence the nation’s highest public office—including, if need be, removing the person in it. In these brief yet deeply researched chapters, we meet founding fathers such as James Madison and Alexander Hamilton, as well as key figures from historic cases such as Brown v. Board of Education and Korematsu v. United States. Brettschneider breathes new life into the articles and amendments that we once read about in high school civics class, but that have real impact on our lives today. The Oath and the Office offers a compact, comprehensive tour of the Constitution, and empowers all readers, voters, and future presidents with the knowledge and confidence to read and understand one of our nation’s most important founding documents.

    • History

A $500 House in Detroit

Rebuilding an Abandoned Home and an American City
Author: Drew Philp
Publisher: Simon and Schuster
ISBN: 147679801X
Category: History
Page: 304
View: 2192
A young college grad buys a house in Detroit for $500 and attempts to restore it—and his new neighborhood—to its original glory in this “deeply felt, sharply observed personal quest to create meaning and community out of the fallen…A standout” (Kirkus Reviews, starred review). Drew Philp, an idealistic college student from a working-class Michigan family, decides to live where he can make a difference. He sets his sights on Detroit, the failed metropolis of abandoned buildings, widespread poverty, and rampant crime. Arriving with no job, no friends, and no money, Philp buys a ramshackle house for five hundred dollars in the east side neighborhood known as Poletown. The roomy Queen Anne he now owns is little more than a clapboard shell on a crumbling brick foundation, missing windows, heat, water, electricity, and a functional roof. A $500 House in Detroit is Philp’s raw and earnest account of rebuilding everything but the frame of his house, nail by nail and room by room. “Philp is a great storyteller…[and his] engrossing” (Booklist) tale is also of a young man finding his footing in the city, the country, and his own generation. We witness his concept of Detroit shift, expand, and evolve as his plan to save the city gives way to a life forged from political meaning, personal connection, and collective purpose. As he assimilates into the community of Detroiters around him, Philp guides readers through the city’s vibrant history and engages in urgent conversations about gentrification, racial tensions, and class warfare. Part social history, part brash generational statement, part comeback story, A $500 House in Detroit “shines [in its depiction of] the ‘radical neighborliness’ of ordinary people in desperate circumstances” (Publishers Weekly). This is an unforgettable, intimate account of the tentative revival of an American city and a glimpse at a new way forward for generations to come.

    • Business & Economics

Macroeconomics and the Financial System


Author: N. Gregory Mankiw,Laurence Ball
Publisher: Macmillan
ISBN: 1429253673
Category: Business & Economics
Page: 601
View: 3377
Watch this video interview with Greg Mankiw and Larry Ball discussing the future of the intermediate macroeconomics course and their new text. Check out preview content for Macroeconomics and the Financial System here. The financial crisis and subsequent economic downturn of 2008 and 2009 was a dramatic reminder of what economists have long understood: developments in the overall economy and developments in the financial system are inextricably intertwined. Derived and updated from two widely acclaimed textbooks (Greg Mankiw’s Macroeconomics, Seventh Edition and Larry Ball’s Money, Banking, and the Financial System), this groundbreaking text is the first and only intermediate macroeconomics text that provides substantial coverage of the financial system.

    • Biography & Autobiography

The Man Who Saved New York

Hugh Carey and the Great Fiscal Crisis of 1975
Author: Seymour P. Lachman,Robert Polner
Publisher: SUNY Press
ISBN: 1438434545
Category: Biography & Autobiography
Page: 229
View: 7373
The Man Who Saved New York offers a portrait of one of New York’s most remarkable governors, Hugh L. Carey, with emphasis on his leadership during the fiscal crisis of 1975. In this dramatic and colorful account, Seymour P. Lachman and Robert Polner’s examine Carey’s youth, military service, and public career against the backdrop of a changing, challenged, and recession-battered city, state, and nation. It was Carey’s leadership, Lachman and Polner argue, that helped rescue the city and state from the brink of financial and social ruin. While TV comedians mocked and tabloids shrieked about the Big Apple’s rising muggings, its deteriorating public services, and the threats and walkouts by embattled police, firefighters, and teachers, all amid a brutal recession, Carey and his team managed to hold on and ultimately prevailed, narrowly preventing a huge disruption to the state, national, and global economy. At one point, the city came within a few hours of having to declare itself incapable of paying its debts and obligations, but in the end stability and consensus prevailed, and America’s largest city stayed out of bankruptcy court. The center held. Based on extensive interviews with Carey and his family, as well as numerous friends, observers, and former advisors, including Steven Berger, David Burke, John Dyson, Peter Goldmark, Judah Gribetz, Richard Ravitch, and Felix Rohatyn, The Man Who Saved New York aims to place Carey and his achievements at the center of the financial maelstrom that met his arrival in Albany. While others were willing to let the city go into default, Carey was strongly opposed, since it would not only affect the state as a whole but would have reverberations both nationally and internationally. In recounting the 1975 rescue of New York City and the aftershocks that nearly sank the state government, Lachman and Polner illuminate the often-volatile interplay among elite New York bankers, hard-nosed municipal union leaders, the press, and influential conservatives and liberals from City Hall to the Albany statehouse to the White House. Although often underappreciated by the public, it was Carey’s force of will, wit, intellect, judgment, and experiences that allowed the state to survive this unparalleled ordeal and ultimately to emerge on a stronger footing. Further, Lachman and Polner argue, Carey’s accomplishment is worth recalling as a prime example of how governments—local, state, and federal—can work to avoid the renewed the threat of bankruptcy that now confronts many overstretched states and localities.

    • History

Terror in the City of Champions

Murder, Baseball, and the Secret Society that Shocked Depression-era Detroit
Author: Tom Stanton
Publisher: Rowman & Littlefield
ISBN: 1493018183
Category: History
Page: 320
View: 8876
A New York Times Bestseller Detroit, mid-1930s: In a city abuzz over its unrivaled sports success, gun-loving baseball fan Dayton Dean became ensnared in the nefarious and deadly Black Legion. The secretive, Klan-like group was executing a wicked plan of terror, murdering enemies, flogging associates, and contemplating armed rebellion. The Legion boasted tens of thousands of members across the Midwest, among them politicians and prominent citizens—even, possibly, a beloved athlete. Terror in the City of Champions opens with the arrival of Mickey Cochrane, a fiery baseball star who roused the Great Depression’s hardest-hit city by leading the Tigers to the 1934 pennant. A year later he guided the team to its first championship. Within seven months the Lions and Red Wings follow in football and hockey—all while Joe Louis chased boxing’s heavyweight crown. Amidst such glory, the Legion’s dreadful toll grew unchecked: staged “suicides,” bodies dumped along roadsides, high-profile assassination plots. Talkative Dayton Dean’s involvement would deepen as heroic Mickey’s Cochrane’s reputation would rise. But the ballplayer had his own demons, including a close friendship with Harry Bennett, Henry Ford’s brutal union buster. Award-winning author Tom Stanton weaves a stunning tale of history, crime, and sports. Richly portraying 1930s America, Terror in the City of Champions features a pageant of colorful figures: iconic athletes, sanctimonious criminals, scheming industrial titans, a bigoted radio priest, a love-smitten celebrity couple, J. Edgar Hoover, and two future presidents, Gerald Ford and Ronald Reagan. It is a rollicking true story set at the confluence of hard luck, hope, victory, and violence. .

    • Biography & Autobiography

Detroit Hustle

A Memoir of Life, Love, and Home
Author: Amy Haimerl
Publisher: Running PressBook Pub
ISBN: 076245735X
Category: Biography & Autobiography
Page: 272
View: 8706

    • Biography & Autobiography

The Private Life of Public Finance

Confessions of a Recovering Investment Banker
Author: Mark T. Melio
Publisher: Platform Press
ISBN: 9780997493016
Category: Biography & Autobiography
Page: 186
View: 3124
The son of a steelworker from Pennsylvania tells the inside story, warts and all, of his career as a successful investment banker at two of the biggest, best-known, and most controversial firms in the world-Goldman Sachs and JPMorgan Chase-during a historic and turbulent period in US history. Mark Melio's personal anecdotes and observations illustrate the self-absorbed culture, hypocrisy, and rapacious practices of Wall Street's leading banks, how he bought into the fiction that "the customer always comes first," and how investment banks morphed from once-proud partnerships into predators in constant search of new ways to scalp clients. This is a rare glimpse by a thoughtful observer behind the scenes of an institution that built America's "new" economy and then nearly destroyed it.