Reports: Detroit Pension Vote Will Pass

It looks like the Detroit Grand Bargain will be approved. Both the Detroit News and the Free Press are quoting sources saying more than two-thirds of city workers have voted "yes" on a plan to reduce their pension benefits and shield the city's art collection from creditors. Final results could be available as early as Friday night. Pensions will be cut by roughly four and-a-half percent and cost-of-living adjustments will be eliminated under the plan. Detroit's bankruptcy trial starts August 14th.

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