Let It Rip: What happens next in Detroit's financial crisis?
Posted:
Updated:
By Fox 2 News Staff
SOUTHFIELD, Mich. (WJBK) -
What happens next with Detroit's financial crisis? Can city officials do anything at this point to keep an emergency manager from stepping in?
"When you're billions of dollars in the hole and you don't have any money coming in, you're either going to go bankrupt and dissolve or you're going to have to get this emergency manager," state senator Rick Jones told Fox 2's Tim Skubick this week.
Meanwhile, Mayor Dave Bing says give us another chance, again.
"We've got plans coming out of our ears," he told reporters Thursday.
As we wait for the governor to decide Detroit's financial future, he dropped this hint.
"This is an issue that's structurally been there for decades," he said at a press conference Thursday.
But local union leaders say we've been under state control since the consent agreement, and that's not working so well either.
"You had the state for the last ten months been running this ship, and it's steadily going down," Ed McNeil told Fox 2's Amy Lange.
Joining Huel Perkins and Charlie Langton on our panel to discuss are:
Ed McNeil, who represents the American Federation of State, County and Municipal Employees (AFSCME) Council 25 and says no matter who is in charge, it is unfair to balance the books on the backs of workers.
Sen. Coleman Young, Junior, son of the late mayor of Detroit, who says all these reports are just a prelude to a state takeover and possibly the sale of the city's assets.
And Nolan Finley, Editorial Page editor for the Detroit News and co-host of the PBS show "MIWeek." He's the lightning rod of the local press, conservative and provocative.
Click on the video player above to watch the "Let It Rip" discussion unfold. Plus, tell us your thoughts by posting in the "Comments" section below.
Friday, May 24 2013 5:31 PM EDT2013-05-24 21:31:37 GMT
A home explosion in Royal Oak back in February killed a man and damaged dozens of houses. Now some homeowners are complaining that insurance companies are making repairs difficult.
A home explosion in Royal Oak back in February killed a man and damaged dozens of houses. Now some homeowners are complaining that insurance companies are making repairs difficult.
Friday, May 24 2013 1:52 PM EDT2013-05-24 17:52:39 GMT
Alan Lee asks Wallace if the subject of Viagara will 'come up' in Wallace's scheduled interview with former Senator Bob Dole. Wallace responds, "Comes up, really that's what you're going to say?"
Alan Lee asks Wallace if the subject of Viagara will 'come up' in Wallace's scheduled interview with former Senator Bob Dole. Wallace responds, "Comes up, really that's what you're going to say?"
Friday, May 24 2013 1:29 PM EDT2013-05-24 17:29:01 GMT
School officials say an earlier lockdown at three schools in Allen Park Friday has been lifted.
School officials say an earlier lockdown at three schools in Allen Park Friday has been lifted. Officials say police gave the all-clear at Allen Park Middle School, Lindemann Elementary and Riley Education Center around 12:40 p.m. Friday.
Friday, May 24 2013 12:07 PM EDT2013-05-24 16:07:12 GMT
Officials say the Detroit Institute of Arts' collection could be sold to help satisfy creditors if the financially troubled city of Detroit seeks bankruptcy protection.
Officials say the Detroit Institute of Arts' collection could be sold to help satisfy creditors if the financially troubled city of Detroit seeks bankruptcy protection.
Friday, May 24 2013 11:49 AM EDT2013-05-24 15:49:41 GMT
Investigators say the number of tips is dwindling in the kidnapping and slaying of a 5-year-old Michigan girl who disappeared four years ago and was found buried near a Michigan river.
Investigators say the number of tips is dwindling in the kidnapping and slaying of a 5-year-old Michigan girl who disappeared four years ago and was found buried near a Michigan river.
Friday, May 24 2013 10:15 AM EDT2013-05-24 14:15:15 GMT
More than 150 dogs have been removed from locations owned by a breeding facility in Michigan's northern Lower Peninsula, where officials said the animals were living in outdoor enclosures with little protection.
More than 150 dogs have been removed from locations owned by a breeding facility in Michigan's northern Lower Peninsula, where officials said the animals were living in outdoor enclosures with little protection.
Friday, May 24 2013 8:27 AM EDT2013-05-24 12:27:33 GMT
If you'd like to contribute to the Oklahoma tornado relief efforts, FOX 2's Amy Andrews says you can drop off supplies at the Democratic Club of Taylor (23400 Wick Rd.) now through Sunday.
If you'd like to contribute to the Oklahoma tornado relief efforts, FOX 2's Amy Andrews says you can drop off supplies at the Democratic Club of Taylor (23400 Wick Rd.) now through Sunday.
Friday, May 24 2013 7:19 AM EDT2013-05-24 11:19:36 GMT
Michigan's public schools would get about 3 percent more and it's community colleges and universities about 2 percent more in overall funding next fiscal year under measures approved by Republican-led budget panels.
Michigan's public schools would get about 3 percent more and it's community colleges and universities about 2 percent more in overall funding next fiscal year under measures approved by Republican-led budget panels.
Friday, May 24 2013 6:47 AM EDT2013-05-24 10:47:05 GMT
Jimmy Howard stopped 25 shots as the Red Wings beat the Chicago Blackhawks 2-0 on Thursday night in Game 4 of the second round series to put the NHL's best team during the regular season on the brink of elimination.
Jimmy Howard stopped 25 shots as the Red Wings beat the Chicago Blackhawks 2-0 on Thursday night in Game 4 of the second round series to put the NHL's best team during the regular season on the brink of elimination.
WTXF-TV 330 Market Street Philadelphia, PA 19106-2796
