Detroit Public Schools (DPS)

Three weeks ago, Mish predicted that the city of Detroit and the DPS system would both file bankruptcy in 2011 (http://globaleconomicanalysis.blogspot.com/2010/12/detroit-mayor-plans-to-halt-garbage.html).

In the three weeks since Mish's article, The Detroit Federation of Teachers (the local teachers union) has prepared a report to present to the DPS titled "The Detroit Federation of Teachers Proposals for Paying Off the Detroit Public Schools Legacy Deficit coauthored by P. F., Financial Analyst and David Weigel, CPA."  Yes, in what could possibly be the most shocking event in my life, a teachers union requested my input on averting a financial crisis. 

While it may be too late no matter what they do, my most beneficial suggestions - abolish the whole system, make the parents responsible for the children, let the free market provide solutions, declare bankruptcy - are not included in the report.  Suggestions of mine were: competition/school choice, charter schools, cutting bureaucracy, pay cuts, teacher accountability, embracing Teach for America, and revamping health insurance benefits.

Sadly, due to bureaucracy and union politics, I doubt any of the suggestions will see light of day.  We'll have to wait and see.