Tuesday, February 10, 2009

Detroit Public Schools Destitute, Receiving Payday Loans

Detroit Public Schools need payday loans

Im Robert C. Bobb, not Bob Bobb!
“I’m Robert Bobb, NOT Bob Bobb!”

Payday loans of a sort from the State of Michigan have been infused into the sagging Detroit Public Schools district

Chastity Pratt Dawsey of the Detroit Free Press reports that Detroit Public Schools is going to have trouble making payroll. A lot of trouble. In fact, on March 17, they’ll be $21.6 million short of making payroll. On April 14, it will be $16.1 million; $17.4 million on May 12; and $21.3 on June 9. Not only that, but the school district has at least $42 million in overdue bills and $9.2 million in retirement payments to distribute. Be thankful if you aren’t one of the 13,633 employees of Detroit Public Schools.

Also, be thankful you aren’t Robert C. Bobb, who is slated to take control of Detroit Public Schools’ budget on March 2.

Options?

Dawsey touches upon a number of suggestions for how the district could approach this tremendous emergency cash situation: ... click here to read the rest of the article titled "Detroit Public Schools Destitute, Receiving Payday Loans"

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