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(Detroit, key bankruptcy plan opponent reach deal)
(Fox News hosts' remarks about Rice video criticized as inappropriate)
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DETROIT (AP) -- Detroit has reached a tentative deal to pay a key creditor 26 cents on the dollar, a move that that could clear the biggest hurdle in the city's plan to reduce its debts and emerge from bankruptcy protection, it was announced Tuesday night.A joint court filing Tuesday evening said that Detroit and the bond insurer Syncora Guarantee "have reached an agreement in principle" to settle the company's $400 million claim in the nation's largest-ever municipal bankruptcy case.Syncora spokesman Steven Schlein told The Associated Press the company would get 26 percent of what it's owed.The two sides said they need two days to complete the deal and ask Judge Steven Rhodes for a postponement of the bankruptcy case trial until Friday."If this agreement is finalized within this time period as we expect, it will profoundly alter the course of the proceeding and the litigation plan of the remaining parties," the filing said.Syncora attorney James Sprayregen told the AP <a href=http://capstone.edu.sg/clreplicashoes.php> Christian Louboutin Outlet Online</a>  that the postponement request was "so that we can work through certain contingencies contained in the deal, including obtaining full resolution with Bank of America, UBS and other stakeholders.""We are hopeful the deal will be finalized in the next 48 hours," Sprayregen said.In response to a question from the judge last week, another Syncora lawyer had told the judge that <a href=http://capstone.edu.sg/images/guccioutlet.onlinesalecc.php>Gucci Outlet</a>  he thought Detroit could afford to pay 75 cents on the dollar.Syncora Guarantee and fellow bond insurer Financial Guaranty Insurance Co. have been leading a small group of creditors fighting the plan by state-appointed emergency manager Kevyn Orr.The Associated Press left a message Tuesday night seeking comment from Orr spokesman Bill Nowling.Most creditors, including about 30,000 retirees and city employees, have endorsed Detroit's plan to cut $12 billion in unsecured debt to about $5 billion.Syncora has strongly opposed the terms, saying that Detroit's blueprint unfairly discriminated against financial creditors. Syncora and some other creditors have pushed for the city to look into the sale of assets, including city-owned pieces in the Detroit Institute of Arts.The threat to artwork prompted the creation of the so-called Grand Bargain -- commitments from the state, major corporations, foundations and others to donate more than $800 million over 20 years meant to soften cuts to city pensions while placing pieces in the DIA into a trust and out of the reach of debtor demands.Pensioners this summer voted in favor of Orr's plan, which calls for general retirees to take a 4.5 percent pension cut and lose annual inflation adjustments. Retired police officers and firefighters would lose a portion of their annual cost-of-living raise.For decades, Detroit paid its bills by borrowing money while struggling to provide the most basic of services for residents. The city, once fueled by the massive auto industry it gave birth to, shrank from 1.8 million <a href=http://www.alportico.net/gosoc.php>true religion jeans</a>  people six decades ago to fewer than 700,000 now.The trial that began Sept. 2 is to help Rhodes determine whether to approve, modify or reject the city's financial reorganization plan.___Follow David N. Goodman at Copyright The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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LOS ANGELES 鈥?Banter by two Fox News Channel <a href=http://www.symbiose.ca/images/christianlouboutin.gwij.php>Christian Louboutin Outlet</a>  hosts about video showing football player Ray Rice hitting his future wife has come under fire.
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The Fox Friends hosts, Brian Kilmeade and Steve Doocy, made their on-air comments Monday while discussing newly released video showing Rice hitting Janay Palmer in an elevator in February.
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Kilmeade said that the lesson to be learned was, in his words, take the stairs.  
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Doocy responded that the message is to remember that elevators include cameras.
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The comments, which were criticized as inappropriate by media observers and in online posts, will be discussed on Tuesday s Fox Friends, the channel <a href=http://www.museosangennaro.com/Public/anel.php>Cheap Christian Louboutin Shoes</a>  said.
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Rice was let go by the Baltimore Ravens on Monday and suspended indefinitely by the NFL after the video s release. His lawyer, Michael Diamondstein, declined to comment.
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The video clip, released by TMZ Sports, shows Rice and Palmer in an elevator at an Atlantic City casino. Each hits the other before Rice knocks Palmer off her feet and unconscious, according to police.
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Months ago, a TMZ video showed Rice dragging Palmer from the elevator at <a href=http://www.alportico.net/gosoc.php> true religion uk</a>  the Revel casino, which closed Sept. 2.
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He had been charged with felony aggravated assault in the case, but in May he was accepted into a pretrial intervention program that allowed him to avoid jail time and could lead to the charge being purged from his record.

Revision as of 23:35, 25 September 2014

@@@ LOS ANGELES 鈥?Banter by two Fox News Channel <a href=http://www.symbiose.ca/images/christianlouboutin.gwij.php>Christian Louboutin Outlet</a> hosts about video showing football player Ray Rice hitting his future wife has come under fire. The Fox Friends hosts, Brian Kilmeade and Steve Doocy, made their on-air comments Monday while discussing newly released video showing Rice hitting Janay Palmer in an elevator in February. Kilmeade said that the lesson to be learned was, in his words, take the stairs. Doocy responded that the message is to remember that elevators include cameras. The comments, which were criticized as inappropriate by media observers and in online posts, will be discussed on Tuesday s Fox Friends, the channel <a href=http://www.museosangennaro.com/Public/anel.php>Cheap Christian Louboutin Shoes</a> said. Rice was let go by the Baltimore Ravens on Monday and suspended indefinitely by the NFL after the video s release. His lawyer, Michael Diamondstein, declined to comment. The video clip, released by TMZ Sports, shows Rice and Palmer in an elevator at an Atlantic City casino. Each hits the other before Rice knocks Palmer off her feet and unconscious, according to police. Months ago, a TMZ video showed Rice dragging Palmer from the elevator at <a href=http://www.alportico.net/gosoc.php> true religion uk</a> the Revel casino, which closed Sept. 2. He had been charged with felony aggravated assault in the case, but in May he was accepted into a pretrial intervention program that allowed him to avoid jail time and could lead to the charge being purged from his record.

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