Judge approves bankruptcy exit plan for Detroit

A judge cleared Detroit to emerge from bankruptcy Friday, approving a hard-fought turnaround plan with a fervent plea to the people of this one-time industrial powerhouse to "move past your anger" and help fix the Motor City.

"What happened in Detroit must never happen again," federal Judge Steven Rhodes said in bringing the case to a close a relatively speedy 16 months after Detroit — the cradle of the auto industry — became the biggest city in U.S. history to file for bankruptcy.

According to the Huffington Post, the plan calls for cutting 12,000 nonpublic safety pensions by 4.5 percent, erasing $7 billion of debt and spending $1.7 billion to demolish thousands of blighted buildings.

Read more from the Huffington Post.