What a difference a year makes! This time last December, Detroit officially emerged from the largest municipal bankruptcy in American history. The future of Michigan's largest and best known city was uncertain. But today, we're proud of the progress Detroit leaders have made in charting a new course.
Just look around. Downtown and Midtown are more vibrant with people and businesses than we've seen in decades. Housing is up and many neighborhoods are being revitalized. By most accounts, vital city services have improved remarkably. Street lights are back on throughout Detroit. The M-1 rail is being built, city bus drivers have a new contract, and a plan has been offered to boost police pay by 4-percent.
Things are certainly looking up even though Detroit is not completely out of the woods yet. Collecting millions of dollars owed to the city is still a challenge. Managing municipal employee pensions into the future will be a delicate balancing act. And, a large degree of Detroit's financial balance sheet will hinge on the future health of the auto industry and the overall U.S. economy.
But we urge city leaders to continue to work together as a team. Be fiscally creative and control what you can. If you follow that practice, Detroit will remain bankruptcy-free and truly become America's "Comeback City!"
I'm Mike Murri, Vice President & General Manager
Broadcast: December 3 - 6, 2015