Midwest

Detroit Mayor Dave Bing chose Cleveland-based law firm Jones Day to serve as counsel for the city's restructuring plan.

Indiana University Health, one of the state's largest health care providers, announced this week it is taking "a step back" on a planned new patient tower that carried a price tag as high as $500 million.

Rank and file Chicago Police Sergeants Association members rejected a proposed contract that included pension reforms billed by Mayor Rahm Emanuel as a potential framework to help solve the city's pension crisis.

Fewer governors have been focusing on pension reform in their state of the state addresses this year, but most who propose reform follow through, according to Loop Capital Markets.

Former Detroit Mayor Kwame Kilpatrick headed straight to jail Monday just hours after a jury found him guilty of 24 counts in a months-long federal corruption trial.

S&P and Fitch Ratings this week held conference calls to detail the criteria driving their BBB ratings on Tuesday's sale of $641M of private activity bonds that will finance what is one of the only publicly rated public-private partnerships that features an availability-payment structure.

Illinois has settled securities fraud charges with the Securities and Exchange Commission for misleading investors about its approach to funding its pension obligations.

With its credit and reputation damaged, Lombard, Ill. plans to shift gears and become a buyer of municipal securities to help finance capital projects.

Standard & Poor's last week downgraded its rating to B-minus from B on the Detroit suburb of Allen Park, a once-wealthy city that is now under emergency management, due in part to $31 million of bonds issued for a failed film studio.

Kansas City, Mo. officials hope to quickly resolve a lawsuit filed by several business owners challenging the legality of the funding mechanism for the city's proposed $102 million downtown streetcar project.