Michigan

Cynthia Thomas is the executive director of the Retirement Systems of the City of Detroit. She is the latest participant in IMMP's "5 Questions."

A second Michigan government is delaying its bond sale amid concerns over fallout from Detroit's bankruptcy.

Detroit emergency manager Kevyn Orr has hired Christie's Appraisals to appraise the collection of the Detroit Institute of Arts.

The Pontiac City School District located outside Detroit stepped closer to a state takeover Friday when a state review team declared it to be in a state of financial emergency.

Detroit expects to file a final plan of adjustment by the end of the year, months ahead of a proposed March deadline, attorneys for the city told the federal judge overseeing the bankruptcy case.

The federal judge overseeing Detroit's bankruptcy case may weigh in this morning on the city's one and only creditor settlement, which terminates a series of interest-rate swaps hedging its pension certificates.

Moody's Investors Service Thursday downgraded Wayne County, Mich., which includes Detroit, to Baa3, the lowest investment-grade rating.

A new analysis from Morningstar weighs in on the debate over the size of Detroit's pension liability, suggesting that current pension fund assumptions fall mostly within accepted industry standards.

Genesee County, Mich. reportedly pulled a $54 million water and sewer bond deal Thursday due to lack of investor interest in the bonds.

Any credit with Detroit in its name can expect to take a hit in the market, but for the Detroit Metropolitan Airport, the so-called Michigan penalty is nothing new, says CFO Terry Teifer.

The federal bankruptcy judge overseeing Detroit filed Tuesday an eight-month schedule of key hearings ahead of a March deadline for the city to file its final plan of adjustment.

Michigan Attorney General Bill Schuette said he will join Detroit's bankruptcy in his role as "the people's attorney" to defend retirees' pensions.

Detroit's bankruptcy may be "profoundly meaningful" for distressed local governments, answering key questions about pension versus bond debt, and clarifying the strength of various bond securities, Moody's said.

Michigan advanced a plan to issue $450 million of private activity bonds for a hockey arena and entertainment district in downtown Detroit, not long after asking many Detroit bondholders to take stiff haircuts as the city seeks bankruptcy protection.

The bankruptcy judge overseeing Detroit Wednesday halted all lawsuits related to the city's historic bankruptcy filing, handing Detroit a key early victory and clearing the way for it to proceed with what would be the largest municipal bankruptcy filing in the U.S.

Many large managers of municipal bond funds with Detroit paper said they haven't heard any panic from their investing clients since the city filed for bankruptcy and many of their funds have lost value.

The Michigan Court of Appeals Tuesday granted state Attorney General Bill Schuette's request to halt an Ingham County circuit court judge's ruling that Detroit withdraw its bankruptcy petition.

Taking advantage of a new state law, Michigan said Monday it will dissolve a pair of cash-strapped school districts after the districts failed to secure adequate private financing to allow them to remain open for another year.

The first hearing in Detroit's historic Chapter 9 bankruptcy case is set for Wednesday.

The Securities Industry and Financial Markets Association warned Michigan Gov. Rick Snyder that the approach he is backing in Detroit's bankruptcy will cost cities across the state and urged him to uphold the city's unlimited-tax general obligation bond pledge.