Economy
Michigan Will Take Over Detroit
Snyder has "top candidate" for Emergency Manager in mind; consolidation of power will likely lead to cuts and asset sales that the mayor and city council sought to avoid.
The other shoe has dropped: the Detroit city government will be forced to cede its authority to an emergency manager chosen by Michigan Governor Rick Snyder.
"I believe it's important to declare the city of Detroit in financial emergency," Snyder announced at a midday press conference on Friday, in front of the banner, "Detroit Can't Wait." The EM will assume the suspended powers of the mayor and city council, and will take unilateral control of municipal finances, union contracts, pension systems, and more.