Detroit emergency manager needed but not bankruptcy: Michigan Treasurer

DETROIT Tue Feb 19, 2013 5:08pm EST

Related Topics

DETROIT (Reuters) - Michigan Treasurer Andy Dillon said on Tuesday that he does not anticipate a municipal bankruptcy filing for Detroit, despite its financial emergency.

"I do think we can navigate around this (a bankruptcy filing)," said Dillon.

Speaking at a news conference to announce the findings of a Detroit review team report, Dillon said the team believes the city needs an emergency financial manager to spearhead necessary reforms. He added that it will be up to Republican Governor Rick Snyder to decide if a manager is right for Detroit.

The report by the six-member team asked to scour Detroit's finances concluded the city is in dire fiscal shape, but stopped short of recommending a manager to control its finances.

A manager could recommend a Chapter 9 bankruptcy filing for Michigan's biggest city, although a panel of state officials could block the move. Detroit would be the biggest municipal bankruptcy ever in the United States.

(Reporting By Steve Neavling, additional reporting by Karen Pierog; Editing by Greg McCune)

FILED UNDER:
We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/
Comments (1)
FtekDetroit wrote:
All this administration at State and City do is “navigate around” the problem as they see it.

Lets see some transparency of government…
1) What departments are regularly exceeding budget and why?
2) Define the critical processes internal and external for the city.
3) Once you know the processes identify weak supply chain. Improve the chain by replacing the weakest links as identified. Monitor how the chain changes and you’ll be improving process along the critical path.
4) The least common denominator must be improved to see progress.

Please address the violations of constitutional law that continue to be “navigated around” by this administration. Confrontation is needed NOW – the least common denominator (our most impoverished people) are sliding down a very slippery slope each and every day.

The answer doesn’t lie with the City or the State… it requires REQUIRES ***REQUIRES*** Federal intervention.

http://en.wikipedia.org/wiki/Fourteenth_Amendment_to_the_United_States_Constitution#Due_Process_Clause

Feb 20, 2013 8:17am EST  --  Report as abuse
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.