{"id":4103,"date":"2020-05-25T11:07:00","date_gmt":"2020-05-25T15:07:00","guid":{"rendered":"https:\/\/www.grantnews.com\/?p=4103"},"modified":"2020-05-25T11:07:00","modified_gmt":"2020-05-25T15:07:00","slug":"when-the-nation-gets-a-cold-detroit-gets-pneumonia","status":"publish","type":"post","link":"https:\/\/www.grantwatch.com\/grantnews\/when-the-nation-gets-a-cold-detroit-gets-pneumonia\/","title":{"rendered":"When The Nation Gets a Cold, Detroit Gets Pneumonia"},"content":{"rendered":"\n<p>The current pandemic is a major blow to the financial bottom line of every local government agency in the USA.<\/p>\n\n\n\n<p>My hometown Detroit, Michigan, emerged from bankruptcy 5 years earlier, and now holds the dubious record of the largest-ever municipal bankruptcy. The terms of the financial oversite of the Motor City have set a trigger for a state takeover if there is a 5% budget deficit.&nbsp; With the stay-at-home orders and the local casinos closed (<em>casinos pay 17% of municipal revenue<\/em>), things are not looking good.&nbsp;&nbsp;<\/p>\n\n\n\n<p>The late former Detroit Mayor Coleman Young said it best. He quipped that, <\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p>\u201cWhen the nation gets a cold, Detroit gets pneumonia.\u201d<\/p><\/blockquote>\n\n\n\n<p>Detroit is currently led by a popular two-term mayor, who has managed to save revenue and even built up reserves and surpluses during his tenure. Mayor Mike Duggan knows the challenges are real but so is the partnership with nonprofit private and public entities. The <a href=\"https:\/\/www.grantnews.com\/the-cares-act-what-you-need-to-know\/\" target=\"_blank\" rel=\"noreferrer noopener\">CARES<\/a> Act only helps to cover the costs associated with the virus.&nbsp; All the remaining lost revenues have resulted in a monetary shortfall resulting in layoffs and more cost-cutting.&nbsp;<\/p>\n\n\n\n<p>The mayor said:<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p>\u201cThese are painful cuts, If we do not handle it ourselves, the state of Michigan is going to be running the city again.\u201d&nbsp;<\/p><\/blockquote>\n\n\n\n<p>Henry Ford III, the great-great-grandson of Henry Ford, and a Ford Foundation trustee explained:<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p>\u201cIf there is going to be some kind of silver lining that comes out of this terrible pandemic, maybe this will be the sort of wake-up call that we need to address a lot of structural and long-seated issues that we have to deal with as a country.&nbsp; It\u2019s a gruesome thing to think about, but when people start dying at accelerated rates, that causes people to pay closer attention, as sad as that is.\u201d<\/p><\/blockquote>\n\n\n\n<p>The former mayor of Detroit was Kwame Kilpatrick, who was sentenced to 28 years in federal prison, after being found guilty of 24 federal felony counts. This disgraced politician was found guilty of corruption, racketeering, extortion, and fraud. This week&#8217;s reports are that he will be released after serving 7 years because the prison where he is serving has a high percentage of <a href=\"https:\/\/www.grantwatch.com\/cat\/56\/coronavirus-covid-grants.html\" target=\"_blank\" rel=\"noreferrer noopener\">COVID-19<\/a> cases. If released, he will stay with his mother, and be monitored electronically.<\/p>\n\n\n\n<p>In 2010, Michigan voters amended the state constitution to prevent public officials from holding office for 20 years if convicted of felonies. Known as the \u201cKilpatrick Amendment\u201d, this ironically prevents Kwame from seeking re-election for at least 20 years.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Woodward Dream Cruise<\/strong><\/h2>\n\n\n\n<p>In a previous article, I wrote about this annual <a href=\"https:\/\/www.grantnews.com\/quarantine-and-cars\/\" target=\"_blank\" rel=\"noreferrer noopener\">Detroit Summer classic<\/a>, that includes 30,000 plus vehicles cruising Woodward Avenue. This \u201clost year\u201d, the \u201cWoodward Dream Cruise\u201d, will lose the support of the 9 suburban communities that encompass the route. They have decided not to host the event. The sidewalks will be empty, and no concerts, no Mustang Alley, and no organized displays.&nbsp; However, no one can really stop drivers from cruising along a public street, and I am sure they will be out in full force.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Hertz Goes Chapter 11<\/strong><\/h2>\n\n\n\n<p>Hertz Corporation, started in Chicago with a fleet of 12 Ford Model-T cars, as a pioneer in the rental car business. After 102 years, this iconic company with its yellow logo, has filed for Chapter 11 Reorganization.&nbsp; The company has businesses all over world:&nbsp; Hertz, Dollar, Thrifty, Firefly, Hertz Car Sales, and Donlen.<\/p>\n\n\n\n<p>In a written statement regarding the bankruptcy, the CEO Paul Stone explained:&nbsp;<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p>&nbsp;\u201cThe impact of COVID-19 on travel demand was sudden and dramatic, causing an abrupt decline in the company\u2019s revenue and future bookings. Hertz took immediate action to prioritize the health and safety of employees and customers, eliminating all non-essential spending and preserving liquidity. The financial reorganization will provide Hertz a path toward more a more robust financial structure.\u201d<\/p><\/blockquote>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Want to Buy a Used Z06 Corvette?<\/strong><\/h3>\n\n\n\n<p>Hertz is selling some of its 650- horsepower, 2019 Z06 Corvettes. These are low mileage sports cars painted in bright yellow with black stripes. They are selling for $20,000 below book value.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" src=\"https:\/\/i1.wp.com\/www.grantnews.com\/wp-content\/uploads\/2020\/05\/Corvette.jpg?fit=800%2C502&amp;ssl=1\" alt=\"Detroit corvette\" class=\"wp-image-4104\"\/><\/figure>\n\n\n\n<p>A 2020 Chevrolet Camaro ZL1 Coupe, with 750-horsepower, and specially tuned by Hendrick Motorsports is also for sale by Hertz.&nbsp; These are the specialty cars that are entering the used car market. Hertz has an inventory of over 560,000 vehicles, and like the airlines will need to downsize their fleet considerably. This bankruptcy could flood the used car market with more than 200,000 cars at a time when the used car lots are already full, and market demand is down.&nbsp; It might be a good time to buy a used car.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Bottom Line<\/strong><\/h3>\n\n\n\n<p>If you have been lucky enough to stay healthy and had preserved your own liquidity, you can do well in picking up some wonderful values and novelty items that were previously beyond your reach.<\/p>\n\n\n\n<p>If your business is in demand due to Covid-19 you are truly lucky and need to expand cautiously.&nbsp;&nbsp;<\/p>\n\n\n\n<p>However, if you are like most Detroiters and Americans and live paycheck to paycheck or maybe have a small amount of emergency funds, you need to think outside the box.&nbsp;<\/p>\n\n\n\n<p>Seek out creative ways to make a living if you are furloughed. The pandemic has created several <a href=\"https:\/\/www.forbes.com\/sites\/jackkelly\/2020\/03\/27\/thousands-of-new-jobs-are-being-created-in-response-to-the-coronavirus\/#229275b03d3f\" target=\"_blank\" rel=\"noreferrer noopener\">employment<\/a> opportunities. <br><\/p>\n\n\n\n<p><em>Ride the wave<\/em> \u2013 <em>things will come back, differently \u2013 but they will come back<\/em>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The current pandemic is a major blow to the financial bottom line of every local government agency in the USA.<\/p>\n","protected":false},"author":17,"featured_media":4110,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_sb_is_suggestion_mode":false,"_sb_show_suggestion_boards":false,"_sb_suggestion_history":"","_sb_update_block_changes":"","_is_real_time_mode":false,"_realtime_collaborators":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"enabled":false},"version":2}},"categories":[124,147],"tags":[],"class_list":["post-4103","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-community","category-latest"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.8.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>When The Nation Gets a Cold, Detroit Gets Pneumonia<\/title>\n<meta name=\"description\" content=\"The late former Detroit Mayor Coleman Young said it best. He quipped that, When the Nation gets a Cold, Detroit gets Pneumonia:\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.grantwatch.com\/grantnews\/when-the-nation-gets-a-cold-detroit-gets-pneumonia\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"When The Nation Gets a Cold, Detroit Gets Pneumonia\" \/>\n<meta property=\"og:description\" content=\"The late former Detroit Mayor Coleman Young said it best. He quipped that, When the Nation gets a Cold, Detroit gets Pneumonia:\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.grantwatch.com\/grantnews\/when-the-nation-gets-a-cold-detroit-gets-pneumonia\/\" \/>\n<meta property=\"og:site_name\" content=\"GrantNews\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/pages\/GrantWatch\/162625900556850\" \/>\n<meta property=\"article:published_time\" content=\"2020-05-25T15:07:00+00:00\" \/>\n<meta name=\"author\" content=\"Jake Tewel\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@grantwatch\" \/>\n<meta name=\"twitter:site\" content=\"@grantwatch\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Jake Tewel\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/www.grantwatch.com\/grantnews\/when-the-nation-gets-a-cold-detroit-gets-pneumonia\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.grantwatch.com\/grantnews\/when-the-nation-gets-a-cold-detroit-gets-pneumonia\/\"},\"author\":{\"name\":\"Jake Tewel\",\"@id\":\"https:\/\/www.grantwatch.com\/grantnews\/#\/schema\/person\/f55150308495225c5a53958cd1078660\"},\"headline\":\"When The Nation Gets a Cold, Detroit Gets Pneumonia\",\"datePublished\":\"2020-05-25T15:07:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.grantwatch.com\/grantnews\/when-the-nation-gets-a-cold-detroit-gets-pneumonia\/\"},\"wordCount\":886,\"publisher\":{\"@id\":\"https:\/\/www.grantwatch.com\/grantnews\/#organization\"},\"image\":{\"@id\":\"https:\/\/www.grantwatch.com\/grantnews\/when-the-nation-gets-a-cold-detroit-gets-pneumonia\/#primaryimage\"},\"thumbnailUrl\":\"\",\"articleSection\":[\"Community\",\"Latest\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.grantwatch.com\/grantnews\/when-the-nation-gets-a-cold-detroit-gets-pneumonia\/\",\"url\":\"https:\/\/www.grantwatch.com\/grantnews\/when-the-nation-gets-a-cold-detroit-gets-pneumonia\/\",\"name\":\"When The Nation Gets a Cold, Detroit Gets Pneumonia\",\"isPartOf\":{\"@id\":\"https:\/\/www.grantwatch.com\/grantnews\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.grantwatch.com\/grantnews\/when-the-nation-gets-a-cold-detroit-gets-pneumonia\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.grantwatch.com\/grantnews\/when-the-nation-gets-a-cold-detroit-gets-pneumonia\/#primaryimage\"},\"thumbnailUrl\":\"\",\"datePublished\":\"2020-05-25T15:07:00+00:00\",\"description\":\"The late former Detroit Mayor Coleman Young said it best. 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The William Davidson Foundation has awarded this grant to enable the theater to improve infrastructure improvements, as well as support its programming. \"We see (this grant) as an important way to continue our\u2026","rel":"","context":"In &quot;Arts&quot;","block_context":{"text":"Arts","link":"https:\/\/www.grantwatch.com\/grantnews\/arts\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.grantwatch.com\/grantnews\/wp-content\/uploads\/2021\/12\/Michigan-Opera-Theatre-and-type-copy.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.grantwatch.com\/grantnews\/wp-content\/uploads\/2021\/12\/Michigan-Opera-Theatre-and-type-copy.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.grantwatch.com\/grantnews\/wp-content\/uploads\/2021\/12\/Michigan-Opera-Theatre-and-type-copy.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.grantwatch.com\/grantnews\/wp-content\/uploads\/2021\/12\/Michigan-Opera-Theatre-and-type-copy.jpg?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":10348,"url":"https:\/\/www.grantwatch.com\/grantnews\/a-detroit-zookeeper-that-even-peta-likes\/","url_meta":{"origin":4103,"position":2},"title":"A Detroit Zookeeper That Even PETA Likes","author":"Jake Tewel","date":"May 14, 2021","format":false,"excerpt":"Our Home is a Zoo My wife and I have been vaccinated for COVID 19. So we invited our children and grandchildren to visit us in Florida. They have really enjoyed our backyard zoo. Their curiosity and attraction to the animals remind me of my visits as a child to\u2026","rel":"","context":"In &quot;Community&quot;","block_context":{"text":"Community","link":"https:\/\/www.grantwatch.com\/grantnews\/community\/"},"img":{"alt_text":"Detroit Zoo Director Kagan Retires","src":"https:\/\/i0.wp.com\/www.grantwatch.com\/grantnews\/wp-content\/uploads\/2021\/05\/Bird-Florida-IMG_6184-1000px-wide-e1621002961111.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.grantwatch.com\/grantnews\/wp-content\/uploads\/2021\/05\/Bird-Florida-IMG_6184-1000px-wide-e1621002961111.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.grantwatch.com\/grantnews\/wp-content\/uploads\/2021\/05\/Bird-Florida-IMG_6184-1000px-wide-e1621002961111.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.grantwatch.com\/grantnews\/wp-content\/uploads\/2021\/05\/Bird-Florida-IMG_6184-1000px-wide-e1621002961111.jpg?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":3772,"url":"https:\/\/www.grantwatch.com\/grantnews\/fundraising-during-a-pandemic\/","url_meta":{"origin":4103,"position":3},"title":"Fundraising During a Pandemic","author":"Jake Tewel","date":"May 3, 2020","format":false,"excerpt":"Many nonprofits in the United States have borrowed the investment strategy known as \"diversification\". An individual investor would never put 100% of their assets into the stock market or in any one single investment.\u00a0 Financial advisors always recommend asset allocation. A mix of stocks, bonds, property, cash, and gold are\u2026","rel":"","context":"In &quot;General&quot;","block_context":{"text":"General","link":"https:\/\/www.grantwatch.com\/grantnews\/general\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1750,"url":"https:\/\/www.grantwatch.com\/grantnews\/michigans-airport-infrastructure-getting-facelift\/","url_meta":{"origin":4103,"position":4},"title":"Michigan&#8217;s Airport Infrastructure Getting Facelift","author":"grantnews","date":"September 29, 2019","format":false,"excerpt":"Looks like several airports in Michigan are about to get a major infrastructure facelift. According to Secretary of Transportation, Elaine Chao, six airports in Michigan are poised to receive federal grant dollars to fund construction and rehabilitation projects. On Monday Secretary Chao announced that the Federal Aviation Administration Program (FAAP)\u2026","rel":"","context":"In &quot;Archived Posts&quot;","block_context":{"text":"Archived Posts","link":"https:\/\/www.grantwatch.com\/grantnews\/archived-posts\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":13049,"url":"https:\/\/www.grantwatch.com\/grantnews\/michigan-nonprofit-gets-grant-for-pilot-food-delivery-program\/","url_meta":{"origin":4103,"position":5},"title":"Michigan Nonprofit Gets Grant for Pilot Food Delivery Program","author":"Lianne Hikind","date":"August 17, 2021","format":false,"excerpt":"The Food Bank Council of Michigan will use a grant from Feeding America to help address food insecurity among senior citizens in West Michigan. The pandemic exacerbated food insecurity - GrantWatch has lots of grants related to the topic. The Food Bank Council will use this $200,000 grant to launch\u2026","rel":"","context":"In &quot;Community&quot;","block_context":{"text":"Community","link":"https:\/\/www.grantwatch.com\/grantnews\/community\/"},"img":{"alt_text":"Close up of male courier with face mask delivering fresh grocery in paper bag to senior man outdoor, corona virus and quarantine concept.","src":"https:\/\/i0.wp.com\/www.grantwatch.com\/grantnews\/wp-content\/uploads\/2021\/08\/Feeding-Elderly-and-Type.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.grantwatch.com\/grantnews\/wp-content\/uploads\/2021\/08\/Feeding-Elderly-and-Type.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.grantwatch.com\/grantnews\/wp-content\/uploads\/2021\/08\/Feeding-Elderly-and-Type.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.grantwatch.com\/grantnews\/wp-content\/uploads\/2021\/08\/Feeding-Elderly-and-Type.jpg?resize=700%2C400&ssl=1 2x"},"classes":[]}],"jetpack_likes_enabled":true,"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.grantwatch.com\/grantnews\/wp-json\/wp\/v2\/posts\/4103","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.grantwatch.com\/grantnews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.grantwatch.com\/grantnews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.grantwatch.com\/grantnews\/wp-json\/wp\/v2\/users\/17"}],"replies":[{"embeddable":true,"href":"https:\/\/www.grantwatch.com\/grantnews\/wp-json\/wp\/v2\/comments?post=4103"}],"version-history":[{"count":0,"href":"https:\/\/www.grantwatch.com\/grantnews\/wp-json\/wp\/v2\/posts\/4103\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.grantwatch.com\/grantnews\/wp-json\/"}],"wp:attachment":[{"href":"https:\/\/www.grantwatch.com\/grantnews\/wp-json\/wp\/v2\/media?parent=4103"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.grantwatch.com\/grantnews\/wp-json\/wp\/v2\/categories?post=4103"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.grantwatch.com\/grantnews\/wp-json\/wp\/v2\/tags?post=4103"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}