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JUL 19, 2013 - TheStreet

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Wall Street Weighs Detroit's Bankruptcy

NEW YORK (TheStreet) -- Wall Street is weighing the impact of Detroit's Chapter 9 bankruptcy filing, after out-of-court restructuring efforts failed on Thursday. The auto industry characterized Detroit's filing -- the largest municipal bankruptcy in U.S. history -- as a shock. Still Detroit's so-called "Big Three" automakers General Motors , Ford and Chrysler said the city's plight wouldn't impact their operations. "GM has assessed the potential implications of Detroit's bankruptcy and we do not anticipate any impact to our daily operations or business outlook," the company said in a ... Read More

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