<blockquote class="twitter-tweet"><p>Detroit's solution to its fiscal crisis: go ahead with its plan to build a $450 million taxpayer-funded sports arena <a href="http://t.co/ZylwcN8FgZ" title="http://ow.ly/nnIqK">ow.ly/nnIqK</a></p>— Walter Russell Mead (@wrmead) <a href="https://twitter.com/wrmead/status/361206531565428736" data-datetime="2013-07-27T19:28:42+00:00">July 27, 2013</a></blockquote> <script src="//platform.twitter.com/widgets.js" charset="utf-8"></script>
Since the legislation passed in December, what the article linked in the tweet does not tell us is what binding construction agreements have been signed, etc. If there is nothing binding at this point, not only is it distasteful to continue plans for such a project, it may be a basis to object to confirmation of the Chapter 9 plan.
http://goobingdetroit.tumblr.com/ <iframe class="imgur-album" width="100%" height="550" frameborder="0" src="http://imgur.com/a/JO6hn/embed"></iframe>
I don't understand why a huge corporation doesn't just buy the land for pennies on the dollar, demolish large areas and put their corporate headquarters there. They can then sell the land in the surrounding area for a large profit.
If my company moved to Detroit, I would not follow. At the very best, it would be a very difficult decision and even then I would probably leave within 2 years. I'm not sure how pervasive that feeling is, but I'm willing to bet at least 50% of people not living in Detroit would feel the same.
For one, the labor pool in the immediate area doesn't look promising. If they gotta import all their labor who's really down with that given status of schools, crime & property values?
I have thought about that. However, I would think that enough people would follow. I agree that the local labor force would not be qualified, but it seems that the VERY low cost of the land, surrounding land, etc would be worth it. You could build huge houses in the area, and Detroit is in a good geographical location. The corporation would essentially control the local government.... and would look like a hero. Detroit is so empty right now that I would think it would be worth it... but apparently not.
I don't know for sure, but I'd imagine that there are plenty of qualified members of the workforce in areas that surround Metro Detroit.
The people can be taught. As stated the Corporation would have unprecedented power and control almost like a City-state. [serfdom?] I would not doubt some company maybe debating it or negotiating the concessions with the city Rocket River
Yeah, Detroit itself is a mess but the suburbs are still in pretty good shape. Just look at the population of the city itself vs the metro population.
