Actuarial Outpost
 
Go Back   Actuarial Outpost > Actuarial Discussion Forum > Finance - Investments
FlashChat Actuarial Discussion Preliminary Exams CAS/SOA Exams Cyberchat Around the World Suggestions


Finance - Investments Sub-forum: Non-Actuarial Personal Finance/Investing

Reply
 
Thread Tools Search this Thread Display Modes
  #111  
Old 07-24-2013, 04:24 PM
Abused Student's Avatar
Abused Student Abused Student is offline
Member
SOA
 
Join Date: Feb 2007
Location: The Eighth Circle of Hell
Favorite beer: Cold and lots of it
Posts: 42,202
Default

Quote:
Originally Posted by Duffer View Post
An amusing bit of sarcasm...
Perhaps the better choice is to split off sections of the city into smaller towns, so there is more local control.
Wasn't really meant as sarcasm. Of course everybody would be removed from the couple blocks and it would be walled in. But what better way to train for some of these cities we are battling in that are run down and falling apart than to actually have a couple blocks that are run down and falling apart that they can just do with as they need? Some with police training.

Splitting it off I don't think could work because there aren't enough people in some of these places to have any hope of making a city work.
__________________
GAME ON!!!!!!! Let your ness show. Join the D&D fun. Started but applications still accepted


Officially assigned the role of Dictator, 9/30/09. Bow to my whims.
Reply With Quote
  #112  
Old 07-24-2013, 04:39 PM
campbell's Avatar
campbell campbell is offline
Mary Pat Campbell
SOA AAA
 
Join Date: Nov 2003
Location: NY
Studying for duolingo and coursera
Favorite beer: Murphy's Irish Stout
Posts: 84,592
Blog Entries: 6
Default

When I was growing up, the small towns in SC we used to drive through had all sorts of burnt-out buildings that just sat there for decades. There was no particular need to bulldoze them - nobody was going to build anything on the land at the time anyway.

In the 90s, most of these places got cleared away and stuff did get built. It took time, but they had to wait until there was actual reason to.
__________________
It's STUMP

LinkedIn Profile
Reply With Quote
  #113  
Old 07-24-2013, 04:40 PM
campbell's Avatar
campbell campbell is offline
Mary Pat Campbell
SOA AAA
 
Join Date: Nov 2003
Location: NY
Studying for duolingo and coursera
Favorite beer: Murphy's Irish Stout
Posts: 84,592
Blog Entries: 6
Default

Anyway, some breaking news:
http://www.detroitnews.com/article/2...ruptcy-filings

Quote:
Detroit — A federal judge has frozen all lawsuits against the city, a move that clears the path for the future of Detroit’s historic Chapter 9 filing to be decided in bankruptcy court.

U.S. Bankruptcy Judge Steven Rhodes issued his order Wednesday after hearing two hours of arguments from lawyers representing the city and creditors who alleged the bankruptcy filing was not valid and was designed to slash retiree benefits.

“My orders enhance the likelihood of a Chapter 9 reorganization, speeds the bankruptcy case and cuts costs to taxpayers,” Rhodes said.

The judge also decided that an automatic stay triggered by Detroit’s Chapter 9 filing extends to Emergency Manager Kevyn Orr, Gov. Rick Snyder and members of the restructuring team as well as state Treasurer Andy Dillon.

But the judge did not rule that Detroit is eligible to file Chapter 9. A decision on that will come later.



From The Detroit News: http://www.detroitnews.com/article/2...#ixzz2Zzfc6OOY
__________________
It's STUMP

LinkedIn Profile
Reply With Quote
  #114  
Old 07-24-2013, 04:44 PM
Abused Student's Avatar
Abused Student Abused Student is offline
Member
SOA
 
Join Date: Feb 2007
Location: The Eighth Circle of Hell
Favorite beer: Cold and lots of it
Posts: 42,202
Default

Judge stops lawsuits

Quote:
A federal judge in Michigan has put the brakes on lawsuits threatening to derail Detroit's bankruptcy and declared that he will handle any challenges.

The decision Wednesday after two hours of arguments is a victory for Detroit.

A county judge last week said Gov. Rick Snyder ignored the Michigan Constitution and acted illegally in approving the Chapter 9 filing, the largest ever U.S. municipal bankruptcy.

Retirees sued, claiming their pensions are protected by the constitution and are at risk in a bankruptcy.

U.S. Bankruptcy Judge Steven Rhodes suspended any pending lawsuits and barred new ones. He says his court will be the exclusive venue for any legal action regarding the bankruptcy.
The people holding the sign in the picture make me sick.

The sign says
"Fight the racist, anti-democratic, union busting bankers' [EVIL?] take over"
"CANCEL DETROIT'S DEBT"
"[illegible] PENSIONS, CITY SERVICES"
"THE BANKS OWE US"

No, you owe the banks.
__________________
GAME ON!!!!!!! Let your ness show. Join the D&D fun. Started but applications still accepted


Officially assigned the role of Dictator, 9/30/09. Bow to my whims.
Reply With Quote
  #115  
Old 07-24-2013, 04:49 PM
MightySchoop's Avatar
MightySchoop MightySchoop is offline
Member
CAS AAA
 
Join Date: Aug 2009
Location: Insula Primalis
Posts: 6,986
Default

Quote:
Originally Posted by Abused Student View Post
Judge stops lawsuits



The people holding the sign in the picture make me sick.

The sign says
"Fight the racist, anti-democratic, union busting bankers' [EVIL?] take over"
"CANCEL DETROIT'S DEBT"
"[illegible] PENSIONS, CITY SERVICES"
"THE BANKS OWE US"

No, you owe the banks.
the [EVIL?] is "EM" for Emergency Manager.
the [illegible] is "JOBS"
Reply With Quote
  #116  
Old 07-24-2013, 04:56 PM
Abused Student's Avatar
Abused Student Abused Student is offline
Member
SOA
 
Join Date: Feb 2007
Location: The Eighth Circle of Hell
Favorite beer: Cold and lots of it
Posts: 42,202
Default

Quote:
Originally Posted by MightySchoop View Post
the [EVIL?] is "EM" for Emergency Manager.
the [illegible] is "JOBS"
Ah. Yeah, sorry people. The banks don't owe you jack sh!t. You have been living off the gov't teets for too long. Time to go suck on something else. This city's gov't is all tapped out.
__________________
GAME ON!!!!!!! Let your ness show. Join the D&D fun. Started but applications still accepted


Officially assigned the role of Dictator, 9/30/09. Bow to my whims.
Reply With Quote
  #117  
Old 07-24-2013, 05:04 PM
donny5k donny5k is offline
Member
 
Join Date: Nov 2007
College: Ohio State Alumni
Posts: 7,312
Default

Quote:
Originally Posted by Abused Student View Post
Ah. Yeah, sorry people. The banks don't owe you jack sh!t. You have been living off the gov't teets for too long. Time to go suck on something else. This city's gov't is all tapped out.
#1. There's a thread in political.
#2. These are public employees who work for the government (i.e. policemen, firemen), not people on welfare so it isn't really the right metaphor.
#3. The city owes both the banks and the pensioners but to the extent that banks have less than 100% seniority on their debt compared to the pension liabilities, the banks "owe" the pensioners.
Reply With Quote
  #118  
Old 07-24-2013, 05:11 PM
Abused Student's Avatar
Abused Student Abused Student is offline
Member
SOA
 
Join Date: Feb 2007
Location: The Eighth Circle of Hell
Favorite beer: Cold and lots of it
Posts: 42,202
Default

Quote:
Originally Posted by donny5k View Post
#1. There's a thread in political.
#2. These are public employees who work for the government (i.e. policemen, firemen), not people on welfare so it isn't really the right metaphor.
#3. The city owes both the banks and the pensioners but to the extent that banks have less than 100% seniority on their debt compared to the pension liabilities, the banks "owe" the pensioners.
#1. I don't go to political
#2. You think public employees that have collectively bargained salaries, pensions, benefits that expect it all to be given to them aren't also sucking off the gov't teet? Look at the teachers in WI and all they did because they were being asked to pay a little bit more toward their benefits. I think the metaphor is pretty accurate.
#3. Let's say the judge says Detroit all of a sudden has no more debt to the banks. You think the pensioners are going to still get paid 100% and have nothing change going forward?
__________________
GAME ON!!!!!!! Let your ness show. Join the D&D fun. Started but applications still accepted


Officially assigned the role of Dictator, 9/30/09. Bow to my whims.
Reply With Quote
  #119  
Old 07-24-2013, 05:12 PM
Werewolf's Avatar
Werewolf Werewolf is offline
Weremember
SOA AAA
 
Join Date: Jan 2003
Location: Fighting with courage
Studying for the Battle of the Bands
Favorite beer: Presidente
Posts: 18,775
Blog Entries: 1
Default

Rosemarie Aquilina should be impeached for the unprofessional ruling she made.
__________________
Sideshow Bob's a psychopath who uses proper Kelsey Grammer.


Spoiler:
Quote:
Originally Posted by Hydraskull
Turns out, annuitize IS DB. Directed by M Night Shyamalan.
Quote:
Originally Posted by limabeanactuary
I realized WIS was his dump stat a while back.
Quote:
Originally Posted by ShebaPoe
Ideologues should be kept far away from power. Starbucks is a good place for them to work.
Quote:
Originally Posted by nonlnear View Post
There's no such thing as an overqualified barista. You need somebody who can not only make drinks and run a register, but also engage customers who might have questions about the genderqueer or Hegelian subtext of the latest pretending-to-not-be-from-a-big-label album being hawked on their counter.
Reply With Quote
  #120  
Old 07-24-2013, 05:27 PM
Abused Student's Avatar
Abused Student Abused Student is offline
Member
SOA
 
Join Date: Feb 2007
Location: The Eighth Circle of Hell
Favorite beer: Cold and lots of it
Posts: 42,202
Default

Oh, and Donny5k, you know the people holding that sign don't use that explanation on why the banks owe them. The banks owe them because they caused the financial collapse. The banks owe them because it was the banks that loaned people money they couldn't afford to pay back. It's the banks fault.
__________________
GAME ON!!!!!!! Let your ness show. Join the D&D fun. Started but applications still accepted


Officially assigned the role of Dictator, 9/30/09. Bow to my whims.
Reply With Quote
Reply

Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off


All times are GMT -4. The time now is 07:36 AM.


Powered by vBulletin®
Copyright ©2000 - 2018, Jelsoft Enterprises Ltd.
*PLEASE NOTE: Posts are not checked for accuracy, and do not
represent the views of the Actuarial Outpost or its sponsors.
Page generated in 0.39302 seconds with 10 queries