The Spark

“The emancipation of the working class will only be achieved by the working class itself.” — Karl Marx

Detroit:
New Hockey Arena

Oct 13, 2014

Crain’s Detroit Business (9-17-14) reports the State of Michigan’s “financing plan for the [Ilitch Hockey Arena] is complex.”

In a nutshell, the State will work with Wall Street banks to raise money through bond sales.

The Detroit Downtown Development Authority (DDA) “will own the arena.” In other words, this puts NEW DEBT on DETROIT!