The spigot has been opened for a new regional authority to take over the Detroit Water and Sewerage Department. Emergency Manager Kevyn Orr and his consulting team on Friday released a restructuring report detailing, among other ideas, plans for a… Continue Reading  

(Reuters) – Now that Detroit’s emergency manager has laid out a tough road that could include a bankruptcy filing for the city, the bondholders, pension managers and others with a stake in the outcome are left to assess his next… Continue Reading  

Emergency Manager Kevyn Orr doesn’t have an exact date circled on the calendar, but in about two months he plans to make one of his biggest decisions: whether a Chapter 9 municipal bankruptcy is the best option for Detroit. The… Continue Reading  

The city of Detroit has an unsustainable way of doing business and can no longer use borrowing and deferring liabilities as a way to buy itself time. A report to be issued on Monday makes official what experts and consultants… Continue Reading  

DETROIT (Reuters) – Six weeks into his work as Detroit’s emergency manager, former bankruptcy lawyer Kevyn Orr has found the city’s finances in worse shape than expected, with long-term debt at $15 billion, $2 billion worse than figures disclosed before… Continue Reading  

DETROIT — An emergency manager assigned to lead this city back from the brink of financial ruin has taken his first detailed look at Detroit’s woes, and the picture of debt and disarray he paints may be bleaker even than… Continue Reading  

MandA.TV during the 2012 Distressed Advising Summit. Interviewing Patrick O’Keefe, Managing Member, O’Keefe & Associates.

Mike Boudreau, Director at O’Keefe and Associates, discuss options for cities dealing with financial problems.

Patrick O’Keefe, managing member of O’Keefe & Associates, discusses hedge funds in underwater mortgages with Bloomberg’s Carol Massar.

Mike Boudreau comments on GM’s decision to keep several dealerships open.