July 22, 2013

Detroit Regional Chamber president and CEO Sandy Baruah talks with CNBC on Detroit’s bankruptcy and how to turn the city around.

NPR: July 20, 2013

Few Detroiters think the largest municipal bankruptcy in U.S. history is great news. But plenty see it as an opportunity. Many Detroit business owners hope the bankruptcy will mean more stability and certainty, in a city that has had little of either in recent years. Sandy Baruah, head of the Detroit Regional Chamber, says the bankruptcy filing did not come as a surprise to him, nor should it surprise anybody else.

Detroit Free Press: July 19, 2013

Local business leaders Friday portrayed Detroit’s bankruptcy as a painful but necessary, and ultimately positive, step toward positioning the city for new growth. Wall Street investors weren’t so optimistic. Analysts from the municipal bond market voiced fears that Detroit’s defaulting on its debts may make it harder for other municipalities in Michigan to borrow what they need.

Fox Business: July 19, 2013

As Detroit becomes the biggest U.S. city to file for bankruptcy, major corporations are unfazed by the Chapter 9 filing, saying the restructuring will not impact operations or investment and will only serve to revive the city.

WXYZ.com: July 19, 2013

DETROIT (WXYZ) – Detroit’s bankruptcy filing was on the front page of just about every major newspaper around the world. But what some say is a black eye for the city, others say might actually be an opportunity for growth.

MLive: July 19, 2013

DETROIT, MI – Detroit Regional Chamber President and CEO Sandy K. Baruah said that the city’s filing for Chapter 9 federal protection under the U.S. Bankruptcy Code is a “bold step needed to finally address Detroit’s financial problems in a meaning and sustainable way.”

Fox Business: July 19, 2013

Chamber president and CEO Sandy Baruah and municipal bankruptcy attorney Jim Spiotto talk with Fox Business on Detroit’s filing for Chapter 9 bankruptcy and how to move the city forward.

The Detroit News: July 18, 2013

“I’m making this tough decision so the people of Detroit will have the basic services they deserve and so we can start to put Detroit on a solid financial footing that will allow it to grow and prosper in the future.”
– Rick Snyder, Governor of Michigan

Forbes: July 18, 2013

Nobody wants to undergo surgery. But if you need it, there’s no point putting it off. All you want is to get through it quickly and be healthy afterwards. That pretty much sums up the view of Detroit business leaders after the city’s historic bankruptcy filing Thursday afternoon, according to Sandy Baruah, president of the Detroit Regional Chamber of Commerce.

Los Angeles Times: July 18, 2013

NEW YORK — Detroit on Thursday became the largest American city to declare bankruptcy, officially succumbing to job losses in the auto industry, decades of population flight, and the collapse of revenue to cover everything from policing to street lighting.