Is Detroit Obliged to Fulfill Its Pension Promises?

Posted on 07/25/2013 by | General News | Comments

Bulletin Today | Money & SavingsBy David A. Lieb of The Associated Press As the once-proud city of Detroit humbles itself in bankruptcy court, its financial future may hinge on this key question: Is the city obliged to its past? Or can Detroit renege on its promises to thousands of retirees for the sake of its present city services? The legal question at the heart of Detroit’s bankruptcy filing has never definitively been answered by the nation’s highest courts. But it could become increasingly important …

Could Howdy Doody Save Detroit?

Posted on 07/19/2013 by | In Other News . . . | Comments

Bulletin Today | Money & SavingsOn June 18, Detroit, which has been wallowing in something like $18 billion of debt, became the largest city in U.S. history to seek bankruptcy protection. Detroit’s creditors have already vowed to go to war over a proposal by the city’s emergency financial manager to settle with them for just pennies on the dollar. Now they’re floating the nuclear option: forcing a sell-off of the holdings of the museum of the Detroit Institute of Arts, which is home to 60,000 …

Dad’s Legacy of Debt Inspired a Movement

Posted on 06/14/2013 by | AARP Blog Author | Comments

Money & SavingsThis is a guest post by Jeff Rose. Fathers tend to leave lasting memories behind for their children. Fond summer memories for some might involve playing catch or ‘HORSE’ basketball, going fishing, or grilling hot dogs that tasted just right. For me, my father’s legacy was debt. Growing up, my father gave me everything: love, support and understanding. I cherished every moment with him and I wouldn’t trade those experiences for the world. When I got older that I started to realize that my dad …

Does Your Mayor Have More ‘Seniority’ Than Richard Wills?

Posted on 05/31/2013 by | News, Culture, Sights and Sounds | Comments

Bulletin Today | Your LifeMeet the “un-politician.” When we telephoned Richard Wills, the 93-year-old mayor of Negaunee, Mich., he wasn’t all that sure that he even wanted to talk about himself. And he was especially reticent to talk about his service in World War II, where he fought in five battles, including the landing on Omaha Beach, on “D-Day Plus Two.” It was a friend’s idea, not his, to reach out around the country to find out if Wills is America’s oldest mayor. (Seemed …

Bankruptcies on the Rise Among Seniors

Posted on 08/28/2008 by | General News | Comments

Your LifeBankruptcy rates rise among older Americans.