Archive for January, 2014

How Does Detroit Happen?

From the most prosperous, highest personal income city in America to the largest municipal bankruptcy to date all in the span of about 50-60 years; how does this happen?  Since Detroit’s bankruptcy filing the blame game has been in full swing. Looking for a single culprit or a smoking gun moment when it all went bad couldn’t be a bigger waste of time. This type of monumental fall is certainly not unprecedented and is almost always a gradual process during which some corrections to cushion the landing could have been made. Two examples from Southeast Michigan’s history show how incremental changes in situations, markets and personal decisions that do not trigger adjustments by those in charge can have devastating effects. In some cases even when action is taken the outcome is still unavoidable. Read more…

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