Despite filing for bankruptcy, Detroit is still on track to get a $450 million hockey arena - partially funded with public money. Host Michel Martin speaks with sportswriter Dave Zirin, who calls the move 'shameless,' and David Muller, a business reporter for the MLive Media Group in Michigan. — npr.org
When companies go bankrupt, the medicine can be harsh for staff members and the local tax base, yet the effects are temporary. A bankrupt city can’t fire citizens who pay taxes but already receive worse than subsistence services like one-hour police response times.
Large cities don’t disappear or die, they just waste into chronic basket cases, like Camden, New Jersey; Gary, Indiana; and East St. Louis, Illinois. — bloomberg.com
London-based Austin Smith: Lord (ASL) said it is owed £7.85m (AED45.3m) by the Abu Dhabi Authority for Culture and Heritage for its work on the Qasr al-Hosn fort in the centre of the city.
The 62-year-old design firm last month signed a Company Voluntary Agreement (CVA) with its creditors in a bid to avoid administration. ASL has made more than 80 staff redundant, including 13 employees from its Abu Dhabi office, which has since closed. — arabianbusiness.com
I believe with every fiber of my being that God turned the eyes of the world on Crystal Cathedral because God wants to make a big bold statement, he wants the world to know that he is a God who still does miracles — Reuters
Philip Johnson's masterpiece, the Crystal Cathedral is the subject of bidding wars between Chapman University, Roman Catholic Archdiocese and the retailer Hobby Lobby. Sheila Schuller Coleman, director of ministry at the church and the daughter of Schuller also thinks they can raise the...
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