DTN News - FINANCIAL CRISIS: Bankrupt Detroit Cannot Wait For Federal Cavalry-City Manager

DTN News - FINANCIAL CRISIS: Bankrupt Detroit Cannot Wait For Federal Cavalry-City Manager

(NSI News Source Info) TORONTO, Canada - July 21, 2013: Detroit must dig itself out of the hole it created and cannot wait to see if the federal government will come to its rescue, the city's emergency manager said on Sunday.

Kevyn Orr, charged with guiding the collapsed Motor City out of the largest municipal bankruptcy in U.S. history, said any outside assistance would be "great" but he is not banking on it.

"Hope is not a strategy from my perspective. I can't plan on the basis of what may or may not happen or what help may or may not come," Orr said on "Fox News Sunday."

"We are not expecting the cavalry to come charging in," he said. "We have to fix it because we dug the hole."

Detroit filed for bankruptcy on Thursday, setting the stage for a costly court battle with creditors and opening a new chapter in the long struggle to revive the cradle of America's auto industry.

If approved by a federal judge, the bankruptcy would force Detroit's thousands of creditors into negotiations with Orr to resolve an estimated $18.5 billion in debt.

(Read complete story on Defense-Technology News - Click on link undermentioned)

http://defense-technologynews.blogspot.ca/2013/07/dtn-news-financial-crisis-bankrupt.html

DTN News - FINANCIAL CRISIS: Bankrupt Detroit Cannot Wait For Federal Cavalry-City Manager

DTN News - FINANCIAL CRISIS: Bankrupt Detroit Cannot Wait For Federal Cavalry-City Manager

(NSI News Source Info) TORONTO, Canada - July 21, 2013: Detroit must dig itself out of the hole it created and cannot wait to see if the federal government will come to its rescue, the city's emergency manager said on Sunday.

Kevyn Orr, charged with guiding the collapsed Motor City out of the largest municipal bankruptcy in U.S. history, said any outside assistance would be "great" but he is not banking on it.

"Hope is not a strategy from my perspective. I can't plan on the basis of what may or may not happen or what help may or may not come," Orr said on "Fox News Sunday."

"We are not expecting the cavalry to come charging in," he said. "We have to fix it because we dug the hole."

Detroit filed for bankruptcy on Thursday, setting the stage for a costly court battle with creditors and opening a new chapter in the long struggle to revive the cradle of America's auto industry.

If approved by a federal judge, the bankruptcy would force Detroit's thousands of creditors into negotiations with Orr to resolve an estimated $18.5 billion in debt.

(Read complete story on Defense-Technology News - Click on link undermentioned)

http://defense-technologynews.blogspot.ca/2013/07/dtn-news-financial-crisis-bankrupt.html

DTN News - BRITISH DEFENSE NEWS: The SDSR Is A Slash-And-Burn Campaign Plan - And It's Time The Government Admitted It

DTN News - BRITISH DEFENSE NEWS: The SDSR Is A Slash-And-Burn Campaign Plan - And It's Time The Government Admitted It

(NSI News Source Info) TORONTO, Canada - April 10, 2012: Four days ago I wrote, in respect of the Falkland Islands but with relevance to all British interests in the wider sense:

'The most effective deterrent of all, the true guardian of the Islands‘ security, is British clarity of vision, rational national defence policies, and consistently unambiguous and fudge-free ministerial communication. Those are issues this blog will examine during the next few months.'

Our theme for this, Rational Defence First, is linked to Effects-Based Financing (EBF) and to unwavering insistence on Integrity as the principal virtue of our national leaders. That integrity must include the willingness to admit incapacity, to acknowledge failure, and to surrender office to others better qualified in knowledge, experience and skill.

So where, amid what defence analysts recognise as a truly appalling political, economic and military situation, should we begin? If we are to concentrate on what has happened and will happen under the present coalition government (treating the dreadful years of Mr Brown’s stewardship, about which we can do little now, as merely the platform for future disasters we can still avert), then the obvious place to begin is this government’s Strategic Defence and Security Review, the SDSR (or, as it is known among defence analysts, the Suicidal Disarmament and Surrender Retreat).      

Fair-minded readers may ask whether the selection of such a defenceless target can be justifed? Perhaps it seems like bullying, but effectively the target has been chosen for us by the government’s own insistence that the SDSR will not be amended (even while ministers surreptitiously seek to do just that as the true horror of their position, and of the nation’s military weakness, sinks into the government’s addled corporate brain). 

Despite its condemnation by a host of defence experts, highly qualified by experience, especially by members of the United Kingdom National Defence Association (UKNDA), whose criticisms are countered solely by personal smears (but while the MoD employs a battalion of PR spin doctors they may as well be used, no?), and despite the mounting evidence of the SDSR’s irrelevance, the government refuses to budge from its obtuse stance.

http://defense-technologynews.blogspot.ca/2012/04/dtn-news-british-defense-news-sdsr-is.html