Detroit Bankruptcy

It's not really a secret that the city of Detroit is in lots and lots of trouble. Even with an emergency manager working to guide it through bankruptcy, a number of the city's institutions remain in very serious danger. One of the most notable is the Detroit Institute of Arts, a 658,000-square-foot behemoth of art that counts works from Van Gogh, Picasso, Gauguin and Rembrandt (not to mention a version of Rodin's iconic "The Thinker," shown abo

Detroit's bankruptcy is still a fresh wound, and it's slowly but surely becoming infected as people start looking for something – anything – to sell to pay the city's debts. While the sale of the Detroit Institute of Art's collection of paintings has been well publicized for those of us that live in the area, another collection is under threat due to the city's lack of funds.

Detroit's bankruptcy is going to mess up a lot of stuff in the coming months – if not years. One thing that shouldn't be affected, though, is the North American International Auto Show, held at downtown Detroit's Cobo Center.

Detroit. The Motor City. Motown. Hitsville, USA. Hockeytown. The largest municipality ever to file for bankruptcy in US history. You can add that last one to Detroit's many titles, as Republican Governor Rick Snyder authorized emergency manager Kevyn Orr to file a petition for bankruptcy yesterday.