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Article: Real estate firms defend profits in DPS deals.(NEWS)(Detroit Public Schools )

Article from:
Crain's Detroit Business
Article date:
October 26, 2009
Author:
Copyright

Byline: DANIEL DUGGAN

As Detroit Public Schools officials take on a handful of real estate firms on an accusation of taking exorbitant profit, companies involved say the deals were on the up-and-up and approved by the school district.

A Crain's examination of public records and court files shows the paper trail on three controversial deals and the profit made by companies involved.

Real estate will continue to be at the forefront of the investigations by DPS emergency financial manager Robert Bobb as his hearings on real estate dealings continue this week on Tuesday and Wednesday.

"We are not accusing anyone of anything right now, he ...

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