SUBSCRIBE TO OUR FREE NEWSLETTER
Daily news & progressive opinion—funded by the people, not the corporations—delivered straight to your inbox.
5
#000000
#FFFFFF
5
#000000
#FFFFFF
Detroit Mayor Bing, Gov. Snyder and newly appointed Emergency Financial Manager Kevyn Orr at a press conference. (Photo: Michigan.gov)
In 'Largest State Takeover of US City,' Detroit Gets Emergency Financial Manager
Bankruptcy attorney Kevyn Orr to begin job he sees as "the Olympics of restructuring"
Mar 14, 2013
In what has been described as "the largest state takeover of a city in U.S. history," an emergency financial manager has been officially appointed for Detroit.
After being recommended by Michigan Gov. Rick Snyder and unanimously approved by the Emergency Financial Assistance Loan Board on Thursday afternoon, bankruptcy attorney Kevyn Orr will begin his role as emergency financial manager for an 18-month term starting March 25.
Orr will make $275,000 a year for his role, a job he described to The Wall Street Journal and The Detroit News as "the Olympics of restructuring."
Mlive.com reports that
As emergency manger, Orr will have the authority to strip elected officials of their powers and pay, sell city assets and void union contracts.
As for the job, Orr said, "I will go at it with full force."
In November, Michigan voters rejected the state's Public Act 4 of 2011, an emergency manager law, only to have a replacement emergency manager law signed by Snyder at the end of 2012.
Yet Orr today called Detroit "arsenal of democracy."
_____________________
On January 20th, it begins...
Political revenge. Mass deportations. Project 2025. Unfathomable corruption. Attacks on Social Security, Medicare, and Medicaid. Pardons for insurrectionists. An all-out assault on democracy. Republicans in Congress are scrambling to give Trump broad new powers to strip the tax-exempt status of any nonprofit he doesn’t like by declaring it a “terrorist-supporting organization.” Trump has already begun filing lawsuits against news outlets that criticize him. At Common Dreams, we won’t back down, but we must get ready for whatever Trump and his thugs throw at us. Our Year-End campaign is our most important fundraiser of the year. As a people-powered nonprofit news outlet, we cover issues the corporate media never will, but we can only continue with our readers’ support. By donating today, please help us fight the dangers of a second Trump presidency. |
Our work is licensed under Creative Commons (CC BY-NC-ND 3.0). Feel free to republish and share widely.
In what has been described as "the largest state takeover of a city in U.S. history," an emergency financial manager has been officially appointed for Detroit.
After being recommended by Michigan Gov. Rick Snyder and unanimously approved by the Emergency Financial Assistance Loan Board on Thursday afternoon, bankruptcy attorney Kevyn Orr will begin his role as emergency financial manager for an 18-month term starting March 25.
Orr will make $275,000 a year for his role, a job he described to The Wall Street Journal and The Detroit News as "the Olympics of restructuring."
Mlive.com reports that
As emergency manger, Orr will have the authority to strip elected officials of their powers and pay, sell city assets and void union contracts.
As for the job, Orr said, "I will go at it with full force."
In November, Michigan voters rejected the state's Public Act 4 of 2011, an emergency manager law, only to have a replacement emergency manager law signed by Snyder at the end of 2012.
Yet Orr today called Detroit "arsenal of democracy."
_____________________
In what has been described as "the largest state takeover of a city in U.S. history," an emergency financial manager has been officially appointed for Detroit.
After being recommended by Michigan Gov. Rick Snyder and unanimously approved by the Emergency Financial Assistance Loan Board on Thursday afternoon, bankruptcy attorney Kevyn Orr will begin his role as emergency financial manager for an 18-month term starting March 25.
Orr will make $275,000 a year for his role, a job he described to The Wall Street Journal and The Detroit News as "the Olympics of restructuring."
Mlive.com reports that
As emergency manger, Orr will have the authority to strip elected officials of their powers and pay, sell city assets and void union contracts.
As for the job, Orr said, "I will go at it with full force."
In November, Michigan voters rejected the state's Public Act 4 of 2011, an emergency manager law, only to have a replacement emergency manager law signed by Snyder at the end of 2012.
Yet Orr today called Detroit "arsenal of democracy."
_____________________
We've had enough. The 1% own and operate the corporate media. They are doing everything they can to defend the status quo, squash dissent and protect the wealthy and the powerful. The Common Dreams media model is different. We cover the news that matters to the 99%. Our mission? To inform. To inspire. To ignite change for the common good. How? Nonprofit. Independent. Reader-supported. Free to read. Free to republish. Free to share. With no advertising. No paywalls. No selling of your data. Thousands of small donations fund our newsroom and allow us to continue publishing. Can you chip in? We can't do it without you. Thank you.