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Why Detroit Won't Open A 'Floodgate' Of Municipal Bankruptcies
Wednesday, November 12, 2014 - 10:34am | 423Last Friday was a great day for Detroit, according to Cate Long, after a Federal judge approved the city’s bankruptcy exit plan. “It looks like the judge will sign off on this pretty quickly, and then Detroit can get to the business of implementing their new financial structure,...
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Flee from the Detroit Bankruptcy to the Safety of Dividend Stocks
Monday, December 16, 2013 - 3:23pm | 484In times of turmoil, "safe haven" assets always increase in value. Some view gold and silver as safe haven assets, for whatever reason. Savvy investors, especially after the Detroit bankruptcy, utilized dividend-paying stocks such as McDonald's (NYSE: MCD), Coca-Cola (NYSE: KO), and...
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Buy Michigan Stocks, Not Detroit Bonds
Wednesday, November 6, 2013 - 4:59pm | 517Michigan is a great state with many rightfully proud citizens. But with its once-mighty city of Detroit in terrible financial shape, state loyalty might prompt some to help the Motor City by purchasing its debt. Loyalty has no place in investing, however, and those seeking to wear the colors...
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The Top 10 Financial Tweets For Tuesday, August 6
Tuesday, August 6, 2013 - 11:13am | 1230There are millions of tweets written every day. Benzinga sifts through the maelstrom of information to find the ten best tweets of the day that are either informative, insightful, or just down right comical. 1. Pawel Morski Pawel Morski (@Pawelmorski) tweeted about the flaring feud between...
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L. Brooks Patterson: Oakland County Is A 'Job Creating Juggernaut'
Monday, July 29, 2013 - 2:44pm | 995Oakland County is located just to the northwest of Wayne County, home of Detroit in Southeastern Michigan. As the city of Detroit goes through the largest city bankruptcy in U.S. history, Oakland County is flourishing, attracting more residents and adapting to the modern economy. Bloomberg...
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The Top 10 Financial Tweets For Friday, July 26
Friday, July 26, 2013 - 9:02am | 1307There are millions of tweets written every day. Benzinga sifts through the maelstrom of information to find the ten best tweets of the day that are either informative, insightful, or just down right comical. 1. Reuters Business Reuters Business (@ReutersBiz) tweeted an article about UBS's (NYSE:...
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Leaders See a Bright Future For Detroit
Monday, July 22, 2013 - 4:54pm | 1094Detroit formally filed for bankruptcy late last week. The bankruptcy, which will allow Detroit to restructure approximately $18 billion worth of debt, was not so much unexpected news after the culmination of decades of decline. Business people and luminaries with close ties to Detroit spoke with...
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Go Beyond Detroit for Muni ETFs Real Potential Problems
Friday, July 19, 2013 - 3:07pm | 758Detroit, once the fourth-largest U.S. city, filed for Chapter 9 bankruptcy protection Thursday, marking the largest municipal bankruptcy in U.S. history. The Motor City has $18.5 billion in long-term debt and news of Detroit's bankruptcy has predictably cast a dark cloud over the already fragile...