BREAKING NEWS
Governor Snyder names candidate for Detroit emergency financial manager
DETROIT (WXYZ) - Governor Rick Snyder is taking the next step in putting an emergency financial manager in charge of the city of Detroit.
He announced that he will recommend Kevyn Orr as EFM for Detroit. The Emergency Loan Board would have to confirm him as the EFM.
Detroit Mayor Dave Bing is with the governor at the news conference and is taking questions about his role. He says he will work with the governor and the EFM.
Kevyn Orr, is a high powered Washington D.C. attorney who helped steer Chrysler through bankruptcy.
Orr has deep Michigan roots as an undergrad and law school student at the University of Michigan.
This step comes two days after the Detroit City Council made a last-ditch case at a hearing in Lansing to stop the takeover-- urging a revised consent agreement that prevented a takeover last year.
It is possible that the judge presiding in that case could take action delaying or stopping the governor from moving forward.
Under a takeover, the mayor and city council would become only "advisors" and their pay would automatically go to zero.
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