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Bankruptcy Judge: Detroit May Cut Pensions

The once-prosperous industrial city of Detroit is now eligible for bankruptcy protection, and might pay only part of pensions and other financial obligations.A bankruptcy judge approved this key step Tuesday in the largest municipal bankruptcy in U.S. history. Unions facing pension cuts and other creditors are likely to appeal the decision. Detroit is home to the U.S. auto industry and the city once had a population of 1.8 million. As U.S. automakers had difficulty selling their products...

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