What's the Financial Future for Detroit?

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July 19 (Bloomberg) -- Wayne State University's Peter Hammer, Aegis' Stanley Crouch and Bloomberg's Keith Naughton how bankruptcy would affect Detroit's citizens and investment opportunities in the city with Pimm Fox on Bloomberg Television's "Taking Stock." (Source: Bloomberg)

He is a chief investment officer.

Peter hammer, you said before you came on, this might be a good thing?

A group c is not always bad.

People who do not understand bankruptcy do not understand that.

Detroit cannot move forward without retiring its long-term debt.

That will be an important any solution.

My major point is the second point, which is if you look at isolation and not look at the region you're missing the big picture.

Keith naughton, come in on this.

This is a regional issue as much as having to do with the city of detroit?


There are only two auto factories in the city of detroit . in the broader region, there's all sorts of auto unemployment.

It is not just what goes on in the city limits of detroit.

You have this whole economic area.

Keith, can you give us an example of the organizations, the businesses that come to detroit?

We know that whole foods is opening a location there.

Yes, whole foods is coming in.

There are many other businesses besides the famous auto companies.

Quicken loans.

At little caesar's pizza owned by the owner of the detroit tigers.

You do have thriving business in this region that can be built upon.

Peter hammer, i wonder if you can talk about the historic applications and race in the issues related to detroit?

You can't understand detroit without understanding racism.

For me, the biggest illustration are the two major counties and detroit.

You have the executive saying that it cannot affect the bond rating because they have no connection to detroit.

They have no connection does this is the most segregated city by race and by wealth in the country.

If you have that degree of economic and racial segregation, you will not have it healthy regional economy.

Quick stanley, i wonder if you can talk about the investment potential -- stanley, i wonder if you can talk about the investment potential for detroit?

I have a lot of history with the droid.

When i was in my previous life, i worked with a lot of charter schools in the city.

Putting in a unit that brands neighborhoods -- the people of detroit are very caring, especially about their young people and they are very seriously challenged.

Some of the kids -- some of the schools we did, 90% of the kids qualified for school lunch.

Some did not have apparent in the home home.

They are really challenged kids.

If we do not do that, we can build more jail beds on the other side, because that is the alternative.

It is also able to have these revivals.

We have these neighborhoods that king gets -- that can get revitalized.

There is a lot going on in this economic region.

Peter, should governor rick snyder do anything other than what he has already done is to mark -- don?


I challenged him at the meeting -- why are you knocking heads in oakland county and macomb county to say, get your heads together?

You cannot be segregated.

What is the likelihood that that will happen, peter hammer?

Not the highest.

It is a republican-controlled state.

If you do not have a bus or a car, you're not going to get to the job.

Keith, is there an irony that you have automobiles at the center of detroit trail history, but as peter hammer says, there is not even a bus route in the county?

Yes, that is very ironic.

Also, there is the issue of crime in the city of detroit.

The slow response time by police.

The murder rate is at a 40-year high.

These are things keeping people and businesses away from me city.

They need to return to a level of staffing in policing that kept these issues at bay.

This text has been automatically generated. It may not be 100% accurate.


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