Midwest

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

The Regional Convention and Sports Complex Authority will take competitive bids Tuesday on a refunding of St. Louis County and Missouri's share of outstanding bonds issued for the St. Louis Rams' Edward Jones Dome.

Ohio is offering $1.1 billion of bonds backed by a new junior-lien credit pledge from the Ohio Turnpike Tuesday in a transaction key to the state's plan to shore up its long-term infrastructure spending.

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.

Illinois Comptroller Judy Baar Topinka said state lawmakers won't be paid next month unless they pursue a legal challenge or override Gov. Pat Quinn's action stripping their pay authorization out of the fiscal 2014 budget.

After downgrading Chicago and its school system over mounting pension woes that along with their long-term debts burden the same tax base, Moody's Investors Service took aim at the Chicago Park District.

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 Chicago Public Schools proposed a $5.6 billion budget for fiscal 2014 that relies on the maximum allowed property tax hike, spending cuts, and $700 million in reserves to erase $1 billion of red ink.

The Chicago Cubs won Chicago City Council approval Wednesday for their privately-funded $500 million, five-year makeover of the 99-year-old landmark Wrigley Field that includes plans for an adjacent hotel and plaza.

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.