but after the bankruptcy, after kevin orr is no more, where do we go from here? where are the jobs?t about the pensions that the people have worked so hard for? where is the money coming in to build rebuild the and the neighborhoods? those questions are yet to be determined and to be asked. as we see the development of downtown, there's a lot of development going on downtown. as we see new stadiums coming in, as we seed individuals buying up buildings for their personal use and to employ certain individuals. as we see all this happening, we also need to see and to make sure that the neighborhoods are brought to the table because if you don't bring the neighborhoods to the stable, there is no stabilization in the city of detroit. >> you got to do it for the people. now, i would venture. >> absolutely. >> to say, i would venture to say that no person of any wherewithal or wealth is going to invest in detroit unless they can make a dollar. i mean, they're not doing it out of the kindness of their heart. lee, officials are saying blight removal is good for the city. what do you say? >>

today kevin orr is right, there is huge investment, billions of investment in downtown.a fabulous job of convening the philanthropic community and a whole bunch of stakeholders to do a very detroit futures city plan, which is awesome, but the question is how can you get it done? detroit has got 20 square miles of vacant land. 60,000 lots of vacant land. it's a huge responsibility, but it's also a huge opportunity. use that to say, urban pioneers, come to detroit. for $5 we'll give you a plat. you can't speculation, just hold on to it. make a go of it. that's the big opportunity for detroit. >> lee saunders, your reaction to the workers may have to give up more? >> i think it's ridiculous. first of all, i think the attack on the pensions of the 22, 23,000 workers who have given their lives to public service, averaging $19,000 a year, and their pensions are on the line. i just don't think it's right. we think it's an unconstitutional act, we think it's immoral and that's why we're in court. we're going to continue to battle this effort. i mean, it may be true that the down

kevin orr, the city's emergency financial manager met with pension funds yesterday to determine the pension shortfall.orr says pensions are underfunded by about three and a half billion dollars. while those funds estimate the shortfall is less, about 600 million dollars. a detroit reporter tells us...the meeting was likely the first of many. "this is an ongoing dispute and i don't expect that the differences between the emergency manager's numbers and the pension fund's numbers are going to be resolved that lasts a few hours. my suspicion and again this is just a suspicion is that this will be the first of several kinds of these meetings that will take place here in the coming days and weeks." that was kirk pin-ho, of crain's detroit business. the deadline to file challenges to detroit's bankruptcy elligability was last night. pinho says the next battle coming down the pipeline: pension funds that filed challenges under grounds that pensions are protected under the constitution, and therefore detroit was never eligible for bankruptcy. super storm sandy may have a lasting impact on both new

kevin orr will be with us. when we come back here we're going to take you inside the motown museum. they changed american music and the identity of the city of detroit. we'll be right back. ♪ [ agent smith ] i've found software that intrigues me. it appears it's an agent of good. ♪ [ agent smith ] ge software connects patients to nurses to the right machines while dramatically reducing waiting time. [ telephone ringing ] now a waiting room is just a room. [ static warbles ] it's a reality check. i had my reality check when i'd be sitting there with my friends who had their verizon phones and i'd be sitting there like "mine's still loading!" i couldn't get email. i couldn't stream movies. i couldn't upload any of our music. that's when i decided to switch. now that i'm on verizon, everything moves fast. with verizon, i have that reliability. i'm completely happy with verizon. verizon's 4g lte is the most reliable and in more places than any other 4g network. period. that's powerful. verizon. get the nokia lumia 928 for free. >>> if all of us are doing our part, then this restructurin

eligibility objection deadline in the bankruptcy petition by detroit's state-appointed emergency manager kevin orr one step in a process that could take months or years to complete if detroit is approved for bankruptcy protection. the city has until september sixth to file its responses. washington already has the nation's highest state minimum wage at $9.19 an hour. now, there's a push in seattle, at least, to make it $15. so far, the city council and mayoral candidates have said they'd consider it in the famously liberal city. but not anytime soon according to one official. supporters say the move would be good for the economy, by putting more money in the hands of regular consumers. but some businesses advocates say a higher minimum wage will make it harder for companies to survive. could save you fifteen percent or more on car insurance. mmmhmmm...everybody knows that. well, did you know that old macdonald was a really bad speller? your word is...cow. cow. cow. c...o...w... ...e...i...e...i...o. [buzzer] dangnabbit. geico. fifteen minutes could save you...well, you know. [ male announcer ] wou

i want to share with you and get your reaction to something that kevin orr, the city's financial manager who was appointed by the governor. this is what he said. he told the "wall street journal." for a long time, the city was dumb, lazy, happy and rich. he goes on to say that if you had an eighth grade education, you'll get 30 years of a good job and a pension and great health care. now that's his quote. lee, your thoughts on that. is that, does that describe detroit? why are the insults coming the way they're coming right now? >> because they want to avoid the facts, ed. detroit has some of the hardest working, committed people in this country. detroit labor built this country. the auto industry created the middle class along with unions. they would love to play into the racism and bigotry. and he is an agent of that bigotry and racism and he wanted to play on that by making you think because detroit is a majority city of color, that we're all lazy and stupid and we don't deserve anything that we have. >> going back to george will's comment, are unions a parasite on your city? and also

objection at deadline in the bankruptcy petition by detroit's state appointed the emergency manager kevin orras the nation's highest state minimum wage at $9.19 an hour. now, there is a puts in seattle, at least, to make it $15. so far, the city council and mayoral candidates have said that they may consider it in the liberal city. supporters say that the move would be good for the economy. but some business advocates say that a higher minimum wage would make it harder for companies to survive. >> the u.s. government is looking into whether j.p. morgan chase hired children of chinese officials to help boo cucut!t! i i hahaveve no idea whats's go. mamaybybe e you're the originalo wiwithth c curly fries and. whwhy y the cowboy hat? yoyou'u'rere the barbecue chi babacocon,n, cheese, and barb. yoyou u alalso come with cu9 bububbbbleles! i i hahaveve no idea what's goi. jujustst go with it. thisdidire. living on cloud nine with that u-verse wireless receiver. you see in my day, when my mom was repainting the house, you couldn't just set up a tv in the basement. i mean, come on! nope. we could only

the man who runs detroit is kevin orr, the emergency manager in charge of steering the city through theuptcy process. there's at least half a dozen candidates believed to have a shot at becoming one of the top two finishers in tuesday's primary and earning a spot on the november ballot. and it's an interesting bunch. let me run through some of the candidates. tom barrow has run three times. he's also served 18 months in jail for tax evasion. there's crystal crittendon. she was let go as the city's top lawyer and is now trying to channel anger over the state tackover. representative durhall and former rep lisa howls are both playing the experience card. at least two candidates most often mentioned as the front-runners, wayne county sheriff benny nap pallon and the former ceo of the detroit medical center mike duggen. duggen's road got tougher. first a judge ruled he would have to run as a write-in candidate. then came word of a late entry into the race. a barber named, ready for this, mike duggen. slightly different pronunciation. a way to potentially muck up the write-in process. the fi

constitution, and that the emergency manager, kevin orr, is miscalculating how much detroit's pensionigations are underfunded. the average amount pension holders, aka city retirees, are getting, is $19,000 a year. the amount is higher, $30,000 a year for police and firefighters but still well below other major cities. from the individuals who filed formal objections, there are examples like steven johnson, a 73-year-old retiree who worked for 22 years as a city boiler inspector. "a reduction in my pension will place me and my spouse in hardship that may result in us filing for bankruptcy." mary duggans, a nurse who worked for the city for 16 years "i need my pension for basic human needs. i'm 80 years old with age-related medical conditions. therefore i have to pay for medical co-pays as well as prescribed medications." these people, they're not the ones that bankrupted detroit. all they did was work for years for not a ton of money, and a promise they wouldn't have to die poor. they are the ones who are going to be most at risk in a bankruptcy proceeding. today we learned there's a l

eligibility objection deadline in the bankruptcy petition by detroit's state-appointed emergency manager kevin orrit's one step in a process that could take months or years to complete if detroit is approved for bankruptcy protection. the city has until sept. 6 to file its responses. orr listed thousands of creditors, including individuals, in his july 18 bankruptcy petition. he's said detroit is insolvent and unable to pay some of its bills, including at least $18 billion in long-term debt. or stopped payment on $2.5 billion in debt in june. >> jpmorgan investigated for china hiring the u.s. government is looking into whether jpmorgan chase hired the children of chinese officials to help it boost its business in china, according to the new york times. the times is citing a u.s. government document for details of the investigation. it says the bank hired the son of a former chinese banking regulator and the daughter of a chinese railway official. the times reports that the railway official was later detained on accusations of taking cash bribes in exchange for handing out government contracts. a j

kevin orr, the city's emergency manager, is not ruling out a sale in a bid to slash billions of dollarsbt. >>> a 9-year-old kansas girl sucked into a river by high water and rapid currents can thank a police officer and others for her rescue. police say the girl and her sister were sitting with their feet in the water sunday when she was swept away. her 17-year-old sister jumped in to help, she got sucked in, too, but the older girl managed to escape and ran to get help. >>> check out this video of some severe storms in kansas yesterday. you can hear them, too. lightning, rain, powerful winds blowing upwards of 80 miles an hour. let's get to meteorologist indra petersons, she's monitoring it all. indra, we're watching damaging storms and heavy rains moving through kansas and missouri here. >> we've been watching storms training really through kansas and missouri overnight in missouri last night, we're talking about four to nine inches of rain. that's an unbelievable high amount of rain. actually want to show you the radar where they saw rainfall rates about two inches per hour. take you