The financial review team's report on Detroit's finances is complete and is headed to Gov. Rick Snyder. His staff members tell us he'll have the report in his hands by Tuesday.
In his recent State of the City address, Mayor Dave Bing said Detroit had no emergency manager "to date." But, that could soon change as the governor pours over the financial review team's report. Sources tell a local newspaper the report outlines massive debt and the city's inability to get out from under it. The team reportedly makes it clear they do not believe the mayor and city council can fix this on their own.
"I never want to get into emergency managers if I can help it," Gov. Snyder told a crowd last week at the MGM Grand. "But the city's finances need to get stabilized, they need to get resolved, and we need to move forward."
The governor also told us he has a "short list" of emergency manager candidates but he denied a state takeover is definite.
Detroit faces $12 billion in long term debt and pension liabilities. The review team spent weeks going over Detroit's books; it was the second emergency evaluation in less than a year. Once the governor receives the report he has 30 days to decide whether to appoint an emergency manager.
Friday, May 24 2013 5:31 PM EDT2013-05-24 21:31:37 GMT
A home explosion in Royal Oak back in February killed a man and damaged dozens of houses. Now some homeowners are complaining that insurance companies are making repairs difficult.
A home explosion in Royal Oak back in February killed a man and damaged dozens of houses. Now some homeowners are complaining that insurance companies are making repairs difficult.
Thursday, May 23 2013 10:59 AM EDT2013-05-23 14:59:53 GMT
Bugs are important to our environment and can even tell us about our water quality. That's why dozens on local students have been taking part in bug hunts.
Bugs are important to our environment and can even tell us about our water quality. That's why dozens on local students have been taking part in bug hunts.
Monday, May 20 2013 5:51 PM EDT2013-05-20 21:51:26 GMT
A church community in Canton is reeling over the death of a young man. He was just married on Saturday and less than 24 hours later killed in a car crash on the way to the couple's honeymoon. His bride survived.
A church community in Canton is reeling over the death of a young man. He was just married on Saturday and less than 24 hours later killed in a car crash on the way to the couple's honeymoon. His bride survived.
Wednesday, May 15 2013 9:22 PM EDT2013-05-16 01:22:48 GMT
A Detroit-based startup is taking off and installing green energy systems across the globe. They are taking a unique approach using a network of expert "freelancers."
A Detroit-based startup is taking off and installing green energy systems across the globe. They are taking a unique approach using a network of expert "freelancers."
Friday, May 24 2013 10:34 PM EDT2013-05-25 02:34:36 GMT
The pediatrician called him a big baby, his parents believed their boy was genetically destined to be obese, but he proved them all wrong. One day, he made a critical decision and became a weight loss winner.
The pediatrician called him a big baby, his parents believed their boy was genetically destined to be obese, but he proved them all wrong. One day, he made a critical decision and became a weight loss winner.
Friday, May 24 2013 8:54 PM EDT2013-05-25 00:54:08 GMT
More than 150 dogs have been removed from locations owned by a breeding facility in Michigan's northern Lower Peninsula, where officials said the animals were living in outdoor enclosures with little protection.
More than 150 dogs have been removed from locations owned by a breeding facility in Michigan's northern Lower Peninsula, where officials said the animals were living in outdoor enclosures with little protection.
Friday, May 24 2013 7:06 PM EDT2013-05-24 23:06:29 GMT
Krazy Jim's Blimpy Burger, an institution for generations of University of Michigan students in Ann Arbor, is about to undergo a historic change of address.
Krazy Jim's Blimpy Burger, an institution for generations of University of Michigan students in Ann Arbor, is about to undergo a historic change of address.
Friday, May 24 2013 6:54 PM EDT2013-05-24 22:54:49 GMT
Gleaming stainless steel circa 1975 provides the once futuristic setting for Southfield's best-kept secret -- Anthony's Coney Cafe inside the IBM building at Nine Mile and Southfield Road.
Gleaming stainless steel circa 1975 provides the once futuristic setting for Southfield's best-kept secret -- Anthony's Coney Cafe inside the IBM building at Nine Mile and Southfield Road.
Friday, May 24 2013 5:31 PM EDT2013-05-24 21:31:37 GMT
A home explosion in Royal Oak back in February killed a man and damaged dozens of houses. Now some homeowners are complaining that insurance companies are making repairs difficult.
A home explosion in Royal Oak back in February killed a man and damaged dozens of houses. Now some homeowners are complaining that insurance companies are making repairs difficult.
Friday, May 24 2013 1:52 PM EDT2013-05-24 17:52:39 GMT
Alan Lee asks Wallace if the subject of Viagara will 'come up' in Wallace's scheduled interview with former Senator Bob Dole. Wallace responds, "Comes up, really that's what you're going to say?"
Alan Lee asks Wallace if the subject of Viagara will 'come up' in Wallace's scheduled interview with former Senator Bob Dole. Wallace responds, "Comes up, really that's what you're going to say?"
Friday, May 24 2013 1:29 PM EDT2013-05-24 17:29:01 GMT
School officials say an earlier lockdown at three schools in Allen Park Friday has been lifted.
School officials say an earlier lockdown at three schools in Allen Park Friday has been lifted. Officials say police gave the all-clear at Allen Park Middle School, Lindemann Elementary and Riley Education Center around 12:40 p.m. Friday.
Friday, May 24 2013 12:07 PM EDT2013-05-24 16:07:12 GMT
Officials say the Detroit Institute of Arts' collection could be sold to help satisfy creditors if the financially troubled city of Detroit seeks bankruptcy protection.
Officials say the Detroit Institute of Arts' collection could be sold to help satisfy creditors if the financially troubled city of Detroit seeks bankruptcy protection.
Friday, May 24 2013 11:49 AM EDT2013-05-24 15:49:41 GMT
Investigators say the number of tips is dwindling in the kidnapping and slaying of a 5-year-old Michigan girl who disappeared four years ago and was found buried near a Michigan river.
Investigators say the number of tips is dwindling in the kidnapping and slaying of a 5-year-old Michigan girl who disappeared four years ago and was found buried near a Michigan river.
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