It's a sensitive subject in Detroit, but Free Press columnist Stephen Henderson says Detroit needs to do something about its big assets to help right the financial ship.
He writes:
The only way to fix that is to restructure those liabilities in a big way -- and you'll need quite a bit of cash to do so.
Detroit's best alternative, at least the best one I see, is to begin talking seriously about how to leverage its assets -- through creative leases, other revenue-generating agreements or, yes, sales -- to raise the few billion dollars needed to put the city in a less obligated state.
The water department. The parking department. The city has to start weighing the need to monetize (or sell) those assets against the value of keeping them in their current state.
