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Two more foundations have pledged $13 million to Detroit's pensions via the Detroit Institute of Arts in a bid to protect the museum's prized art collection as part of a grand bargain worked out by federal court mediators.
June 11 -
Investment research firm Morningstar said it will no longer provide municipal bond credit analysis or commentary.
June 11 -
Bond insurer Syncora Guarantee said in a court filing that Detroit, as well as federal court mediators and even the bankruptcy judge himself have unfairly singled out the insurer as part of an anti-Wall Street public relations campaign.
June 11
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Detroit officials will meet Thursday with Ambac Assurance Corp. and Blackrock Financial in a court-ordered mediation session to try to reach a settlement after months of failed talks.
June 11 -
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President Obama signed into law Tuesday a $12.3 billion water infrastructure bill that funds 34 port, inland waterway, and flood control projects.
June 10 -
Senate Budget Committee chairman Patty Murray says closing corporate tax loopholes would pay for federal transportation funding needed to avoid a shortfall in the Highway Trust Fund.
June 10 -
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Detroit's bankruptcy court judge has delayed the scheduled start date for hearings on the city's confirmation plan by three weeks to Aug. 14.
June 9
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House GOP leaders push ahead with a plan to fund highway projects for a year with savings realized by limited Saturday mail deliveries.
June 9
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Detroit's hometown automakers pledged $26 million towards the Detroit Institute of Arts' $100 million share of the so-called "grand bargain" that's a key part of the city's plan to emerge from bankruptcy.
June 9
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A $1.7 billion Los Angeles Unified School District general obligation refunding planned for this week will help boost volume to the highest in three months, and help satisfy pent-up demand among eager, cash-flush investors, according to municipal traders.
June 8
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This year's higher taxes played a secondary role as demand for municipal bonds surged after April 15 tax deadline passed, according to analysts.
June 6
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Michigan legislation that raises money for Detroit's pensions marks a "lost opportunity" for bondholders and reflects ongoing tensions between bond and pension recoveries in the bankrupt city, Moody's Investors Service said.
June 6
