agreement that could influence other creditors to try to get a settlement. The deal still needs the blessing of Judge Steven Rhodes and is only a small part of the $18 billion bankruptcy case,Nike Air Max 2014 Black Green Orange, the largest by a local government in U.S. history. (AP Photo/Paul Sancya, File)Detroit emergency manager Kevyn Orr, appointed by the state to run the city, said he hopes to announce more deals soon.It's important that people get on the bandwagon, Orr told The Associated Press, referring to other creditors, especially unions, who have been privately meeting with the city and mediators.Earlier, on CNBC,Nike Air Max 2014 Womens Grey Pink, Orr said he doesn't want to turn to a cram-down, a bankruptcy term that gives a judge sweeping power to settle disputes.The aid for low-income retirees was welcomed by a spokesman for the police and fire pension fund.However, whether the settlement as a whole is advantageous to the city and to the retirement systems — we just do not know, Bruce Babiarz said.Detroit hopes to exit bankruptcy by October, but the city's plan first faces a series of court hearings in summer. The most divisive issue: cuts to pensions.The city is proposing a 6 percent cut for retired police officers and firefighters, and a 26 percent cut for other retirees. The difference is tied to the health of the two pension funds.The size of those cuts assumes that foundations,Air Max Shoes UK, the state of Michigan and other philanthropists contribute $816 million to help pensioners and prevent the sale of city-owned art. If retirees and city employees reject the cuts, the outside money vanishes and pensions would be slashed even more.Anthony Sabino,Nike Air Max 90 EM UK, a bankruptcy expert and St. John's University law professor, said the bond deal is a good sign of progress in the case.We call that taking a haircut, he said. That's fairly typical for bondholders in a corporate bankruptcy. There usually is a restatement of terms, and the bondholders take some kind of reduction.Bondholders earlier had been offered 15 cents on the dollar,Nike Air Max 2014 Womens, but Orr said there was a risk that the city would lose access to a property tax earmarked for debt if it didn't make a better deal.Separately, a group of creditors with eyes on Detroit's art said it has found buyers willing to pay more than $1 billion for parts or all of the collection. Creditors are asking the judge to order Orr to cooperate with interested parties.New York-based Art Capital Group said it would arrange $2 billion in loans to Detroit with art at the Detroit Institute of Arts used as collateral. Orr, however, told AP he's not interested and will stick with a plan to raise money from foundations and the state.We've committed ourselves to that bargain. No one can compel the city to sell assets, Orr said.___Follow Ed White at http://twitter.com/edwhiteap 2600756
252 shares 28 View comments Most of us take telling the time for granted. But for visually impaired people it can be a real struggle and sometimes a speaking clock just isn’t practical.However, a new tactile watch is about to hit the shops that lets people tell the time just by touching it – and it’s so stylish that many people with perfect vision are also ordering one for themselves.The Bradley Timepiece has a minimalistic titanium face with gently protruding markings, but no numbers or hands.Scroll down for video It's about time! The Bradley Timepiece (pictured left) lets people tell the time using their sense of touch. It is named after Paralympic gold medal winner Bradley Snyder (pictured right) and features two distinctive grooves with ball bearings set inside them that denote the minutes and hours of the day HOW IT WORKSInstead of traditional watch hands, time is indicated by two ball bearings.The one towards the centre of the watch indicates the passing minutes and one marking the hours is positioned on the side.The ball bearings are connected to a watch movement beneath the casing with magnets.If the ball bearings are pressed a little too hard and are moved accidently, a user can shake their wrist and they spring back to show the correct time.Its unique feature is two ball bearings set into grooves that people can touch to tell the time. The ball in the central groove rotates to mark the minutes, while another set into the side of the timepiece travels round the face to denote the hours. More... Google healthcare? Boston hospital is first to use Glass technology to treat patients despite privacy concerns Language is a 'biological instinct': Babies don't learn to develop speech - they're BORN with the ability Designer Hyungsoo Kim, CEO of E-onetime, which is based in Washington DC, designed the quirky timepiece while he was a student at MIT.‘Most clocks and watches require vision and checking the time is still a big problem if you're visually impaired