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Fri Feb 22, 2013, 11:49 AM

Gov. Rick Snyder says EFM decision for Detroit may come next week

Gov. Rick Snyder says he's at least a week away from deciding if Detroit needs an emergency manager to confront its $327 million budget deficit and $14 billion long-term debt.

He held a news conference Thursday to discuss the Detroit Financial Review Team report which was released Tuesday.

The team's report stated the city is under a financial emergency.

During the press conference, Snyder said he wouldn't announce any decisions on an emergency manager. He only discussed the report.


http://www.clickondetroit.com/news/Gov-Rick-Snyder-says-EFM-decision-for-Detroit-may-come-next-week/-/1719418/19022334/-/150nd08z/-/index.html

Vultures circling the dying city...

2 replies, 321 views

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Reply Gov. Rick Snyder says EFM decision for Detroit may come next week (Original post)
YoungDemCA Feb 2013 OP
Purveyor Feb 2013 #1
Shadowflash Feb 2013 #2

Response to YoungDemCA (Original post)

Fri Feb 22, 2013, 12:05 PM

1. Considering the city council's ineptitude, there really are few options. This or bankruptcy. eom

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Response to YoungDemCA (Original post)

Fri Feb 22, 2013, 12:16 PM

2. If it's like the EFMs in other cities

They'll move in, sell anything of value that belongs to the city to their rich friends dirt cheap and never leave. They keep saying that these people are suppose to come in, straighten out the finances, and set them on a path toward solvency, but all they really do is come in, rape the city and hang out. I can't find a single example of a EFM coming in and actually leaving.

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