Page 252 - Restructuring News Today

Cash to plug that $5.8 billion worth of euros theyre going to raise on deposit holders. the request he is what happens now? since then, we also heard that an emergency session planned by the parliament in cyprus has been delayed. they come up with solutions and so far no restructuring of the banks and also capital controls to stop this flight of capital next week. and also the other plan was what to do with the solidarity fund which was meant to raise money for investment into cyprus. so the sit...

The credit outlook from negative to stable. detroit is the biggest american city to be placed under state control and it could become the largest municipal bankruptcy ever. joining me is darren nichols who covers city hall for "the detroit news." welcome to you. lets look at kevin orr. he calls this the olympics of restructuring. just how bad is it? >> its prettied about. youre talking about a city that has $14.9 billion in long-term liabilities and a city that needs to begin paying back about $...

Restructuring." both snyder and orr will join us later. >> new smart phone "the new york times" is revealed. the galaxy s4? is being viewed as a major competitor to apples iphone and featured smart scroll a new technology which follows the users eyes and stops playing videos when the user looks away. the galaxy s4 is available next month. >> willie, would you like a smart phone to follow your eyes? >> no. that creeps me out. >> that kind of creeps me out. >> people like that samsung, though. >> ...

The fire department stretched so thin its proposed just letting vacant buildings burn if they catch fire. the city cannot afford to keep all of its street lights on, some city streets are just dark at night. trace gallagher with the news. trace, how long do they think the restructuring will take? >> reporter: well, the new city manager says he signed a 12 to 16 month contract and hopes it can be done sooner than that. as the governor said today, the problem took more than a half century to creat...

Emergency manager for the city of detroit. three vehicles had signs on them reading democracy in detroit emergency manager. the slowdown caused a back-up for several miles before state troopers arrived. and were finding out if bankruptcy expert who represented automaker chrysler during its successful restructuring has been chosen to steer detroit out of its financial abyss. >> and house speaker john boehner said thanks but no thanks to an invitation to join the vice president on a trip to the va...

Ive got teammates. ive got partners that can help me do some of the things that need to be done in our city. >> reporter: of course, if they cant work it out, detroit would likely have to file for bankruptcy, which that would be the largest u.s. city ever to do so, harris. >> harris: you know, part of what weve watched in that city is their own internal politics and workings keeping them from going forward, in some cases. the city council, i understand is not exactly embracing this plan to go fo...

Environment, different priorities while similar in terms of what needs to be done from the mathematical aspects of a restructuring is a little different in terms of the services you need to provide the citizens. >> one final question, governor. one of detroits big problems is the population has decreased by more than half over the past 20 years or so, maybe even two-thirds. what do you do to bring people back to detroit? >> the good things that go on that doesnt get recognized because people dwe...

European central bank deciding not to cast interest rating to a new record low despite poor economic outlook and record unemployment. >> some exists thought the bank would cut rates to stimulate growth. some market confidence has returned to europe in part because of painful economic restructuring be by governments in athens, rome, madrid. >> lets have a look at stocks advancing again today. setting up yet another record high for the dow. >> take a look at the numbers there. up 41 points. 14,337...

January 1st tax increase action but it brought $600 billion to the table. the president promised a 4 to 1 balance in the campaign and we needed to get serious. >> when we talked about the effects on defense spending because of the sequester as well as a continuing resolution, which continues that level in terms of monetary value, what are some of the suggestions you would make? because you said you did not agree with the structuring of it. how would you restructure that debt? >> i think at times...

Father george romney did among minority voters he would probably be president of the united states right now. like others on the panel i was struck by the fact that after a campaign is oh over when people have been brutalizing each other and have absorbed negative shocks and so forth and so on candidates always look better when you get to sit down and more relaxed environment and you do see that mitt romney is a person with a lot of ability and a lot of energy who still has a lot to contribute a...