TV News LIES

Monday, Oct 20th

Last update02:41:11 AM GMT

You are here News Domestic (USA) Detroit retirees vote for major pension cuts – by a landslide

Detroit retirees vote for major pension cuts – by a landslide

E-mail Print PDF

Detroit pensions cutA year after filing for bankruptcy, Detroit is building momentum to get out, especially after workers and retirees voted in favor of major pension changes just a few weeks before a judge holds a crucial trial that could end the largest public filing in U.S. history.

Pension cuts were approved in a landslide, according to results filed shortly before midnight Monday. The tally from 60 days of voting gives the city a boost as Judge Steven Rhodes determines whether Detroit's overall strategy to eliminate or reduce $18 billion in long-term debt is fair and feasible to all creditors.

The rial starts August 14.

"I want to thank city retirees and active employees who voted for casting aside the rhetoric and making an informed, positive decision about their future and the future of the city," said Kevyn Orr, the state-appointed emergency manager who has been handling Detroit's finances since March 2013.

General retirees would get a 4.5 percent pension cut and lose annual inflation adjustments. They accepted the changes with 73 percent of ballots in favor. Retired police officers and firefighters would lose only a portion of their annual cost-of-living raise. Eighty-two percent in that class voted "yes."

More...


Most Recent Related Stories...


Alabama House Speaker Mike Hubbard indicted on 23 felony corruption charges

Mike HubbardMike Hubbard, speaker of the Alabama House of Representatives and a powerful leader in the state...

Do Detroit's water shutoffs violate international law? UN to investigate.

Detroit water shut-offsTwo human rights experts from the United Nations plan to visit Detroit this weekend to investigate...

The United States Is Number One ... but in What?

USA number oneAmerican politicians are fond of telling their audiences that the United States is the greatest country...

Native American schools face decayed buildings, poverty

native american schools in disrepairFederally owned schools for Native Americans on reservations are marked by remoteness, extreme poverty and a...
 
America's # 1 Enemy
Tee Shirt
& Help Support TvNewsLIES.org!
TVNL Tee Shirt
 
TVNL TOTE BAG
Conserve our Planet
& Help Support TvNewsLIES.org!
 
Get your 9/11 & Media
Deception Dollars
& Help Support TvNewsLIES.org!
 
The Loaded Deck
The First & the Best!
The Media & Bush Admin Exposed!