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.
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."
Monday, May 13 2013 6:19 PM EDT2013-05-13 22:19:48 GMT
A suspect is in custody after a bomb scare at Westland City Hall. We're told a man held a worker hostage as SWAT teams surrounded a building on Ford Road. Nobody was hurt.
A suspect is in custody after a bomb scare at Westland City Hall. We're told a man held a worker hostage as SWAT teams surrounded a building on Ford Road. Nobody was hurt.
Saturday, May 11 2013 9:28 PM EDT2013-05-12 01:28:26 GMT
Detroit Mayor Dave Bing was among dozens of volunteers who came out to clean up various neighborhoods Saturday. It was all part of Motor City makeover, now in it's second weekend.
Detroit Mayor Dave Bing was among dozens of volunteers who came out to clean up various neighborhoods Saturday. It was all part of Motor City makeover, now in it's second weekend.
Sunday, May 19 2013 10:03 PM EDT2013-05-20 02:03:31 GMT
A trip to Subway turned into a nightmare for an elderly Berkley couple Friday afternoon in Commerce Township. Oakland County Sheriffs say a man left his 74 year-old wife in the car, while he ran inside
A trip to Subway turned into a nightmare for an elderly Berkley couple Friday afternoon in Commerce Township. Oakland County Sheriffs say a man left his 74 year-old wife in the car, while he ran inside
Sunday, May 19 2013 9:08 PM EDT2013-05-20 01:08:52 GMT
It's National Boating Safety Week - a good time to learn about new boating safety regulations. Macomb County Sheriff Anthony Wickersham talked with Fox 2 about what boaters need to know.
It's National Boating Safety Week - a good time to learn about new boating safety regulations. Macomb County Sheriff Anthony Wickersham talked with Fox 2 about what boaters need to know.
Sunday, May 19 2013 8:54 PM EDT2013-05-20 00:54:31 GMT
Four people were shot and injured Sunday outside a house on Lakepoint in Detroit. The shooter, in a gold truck, is still on the loose.
Four people were shot and injured Sunday outside a house on Lakepoint in Detroit. We're told a group of 10 people were drinking and partying outside the house when a gold truck rolled down the street and started firing.
Sunday, May 19 2013 1:52 PM EDT2013-05-19 17:52:35 GMT
Authorities have identified a 20-year-old man they've arrested in the firebombing of the suburban Detroit home of an heir to the Art Van Furniture business.
Authorities have identified a 20-year-old man they've arrested in the firebombing of the suburban Detroit home of an heir to the Art Van Furniture business.
Let It Rip Weekend: Doggy Insurance, Pit Bull Bans & $15 Minimum Wage
Sunday, May 19 2013 10:33 AM EDT2013-05-19 14:33:58 GMT
This time we're talking about a new requirement in Royal Oak that has some dog owners taking out $1 million insurance policies on their pooches. Plus, Waterford Township is considering repealing their
Should owners of dangerous dogs have to take out $1 million insurance policies? Are pit bull bans a good idea? Plus, should the minimum wage be raised to $15 an hour?
Sunday, May 19 2013 12:01 AM EDT2013-05-19 04:01:16 GMT
It was supposed to be their big night, but prom turned into a big headache for teens from a local high school. Police showed up to crack down on an unauthorized limo service.
It was supposed to be their big night, but prom turned into a big headache for teens from a local high school. Police showed up to crack down on an unauthorized limo service.
Friday, May 17 2013 11:55 PM EDT2013-05-18 03:55:04 GMT
"We intend to build cars in North America for [the] North American market, build cars in Europe for the European market and build them in Asia for the Asian market," said Don Graunstadt.
"We intend to build cars in North America for [the] North American market, build cars in Europe for the European market and build them in Asia for the Asian market," said the CEO of North American Operations for the electric car company.
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