EFM: Snyder to name Detroit emergency financial manager

[Tig3rzhark]

It's finally time. At 12pm today, Gov. Rick Synder will announce the action that will be taken in concern to Detroit's financial crisis.

We should have done this a long time ago.

I'm a Detroiter, and I'm saying this. I have no sympathy for what's going to happen to the mayor, and the city council. Should they decide to fight the action, they do so in their own personal interest, not in the interest of the city of Detroit.

Yesterday, a kid was robbed of his shoes and had to walk home barefooted in the snow. I've had enough of the city government's incompetence. I'm sure that most, if not everyone on this forum will agree with me.

http://www.freep.com/article/20130301/COL06/303010151/Tom-Walsh-Time-has-come-for-Snyder-to-step-in?odyssey=tab|topnews|text|FRONTPAGE

[RapBrown]

Snyders man will be governing people who have no right to vote. On top of that in not one city has a EFM worked. Now you have robbery and Jim Crow rolled into one, great idea when do we start?

[Honky Tonk]

Snyders man will be governing people who have no right to vote. On top of that in not one city has a EFM worked. Now you have robbery and Jim Crow rolled into one, great idea when do we start?

I sure as hell didn't vote for this incompetent mess.

[Jaybiz]

Snyders man will be governing people who have no right to vote. On top of that in not one city has a EFM worked. Now you have robbery and Jim Crow rolled into one, great idea when do we start?

It worked in Hamtramck just fine. Hamtramck was mostly white at that time [[2000-2001) and the Hamtramck city council was upset and tried fighting it but no one ever mentioned Jim Crow or race. Maybe the hacks who've been running the city just are incompetent and the state needs to step in. Maybe playing the race card is a symptom of something much bigger and says a lot about not taking any responsibility.

[rb336]

It worked in Hamtramck just fine. Hamtramck was mostly white at that time [[2000-2001) and the Hamtramck city council was upset and tried fighting it but no one ever mentioned Jim Crow or race. Maybe the hacks who've been running the city just are incompetent and the state needs to step in. Maybe playing the race card is a symptom of something much bigger and says a lot about not taking any responsibility.

and hamtown is facing ANOTHER round of EFM BS

[Honky Tonk]

and hamtown is facing ANOTHER round of EFM BS

Why do the same people continually keep going through rehab?

[Wesley Mouch]

Why do the same people continually keep gpoing through rehab?

We have some structural problems in the way we do municipal government in this country.

During good times, we spend and borrow to fund everything wonderful. In hard times, the worst offenders get in the biggest trouble.

[Wesley Mouch]

and hamtown is facing ANOTHER round of EFM BS

This is a common mistake.

The EFM worked just fine in Hamtramck.

It got them out of their immediate financial trouble.

The fact that they got back into financial trouble isn't a failure of the EFM.

There seems to be a recurring theme that EFM's don't work. They seem to work fine on finances.

btw, see today's article on MLive on EFM... here's a hidden among the usual suspects [[politicians, union leaders) screaming about the end of democratic process. Sample: [[Pontiac, under emergency management for several years, recently boasted bond rating upgrades.) see: http://www.mlive.com/news/detroit/in..._river_default

Long-term fixing the rest of the city rests with the mayor and council -- the elected folks -- to work on this rather than fighting EFMs to keep their power. The EFM is not a fix. Just triage.

[reddog289]

From what I have seen.. Things in Detroit have gotten so far out of hand that Big Brother or Bigger Brother had to step in. 40 plus years of mis management have bit the City in the ASS. Watching the council on TV IS A JOKE. Driving though the city to get to a bright spot is a joke. There are no easy answers to this problem that will please everyone.

[MikeyinBrooklyn]

Snyders man will be governing people who have no right to vote.

Detroiters have not been voting for ages. I don't mean we don't show up and vote, but we have not had functioning self-government for some years now. So our voting has achieved assigning politicians titles and salaries, but no real running the business of the city. Hopefully, after the mess is cleaned up, we can try self-government again. But our voters have opted out in the past. I wish Douglas MacArthur were still around. He put Japan on a great footing in 6 years. Of course, Kwame and the Council do rival Fatman and Littleboy...

[TKshreve]

LOL - Welcome to the forum!

I see your point. Status Quo should be fine I guess. Call off the dogs Snyder. Things are going to be ok. They'll get their house in order....... this time.

LOL.

[hamtown mike]

Should they decide to fight the action, they do so in their own personal interest, not in the interest of the city of Detroit.

Unfortunately should they decide to fight, and they will, they will be spending taxpayer money to do so. Council has already consulted with a slew of lawyers and I'm sure the lawyers are doing pro-bono work. Council is fighting hard to save their power and influence. Imagine what could have been accomplished if they fought this hard for the city. Just stay down Luke. Just stay down.

[Honky Tonk]

Unfortunately should they decide to fight, and they will, they will be spending taxpayer money to do so. Council has already consulted with a slew of lawyers and I'm sure the lawyers are doing pro-bono work. Council is fighting hard to save their power and influence. Imagine what could have been accomplished if they fought this hard for the city. Just stay down Luke. Just stay down.

They can always cut more City services and employee pay to make up for the deficit.

[313WX]

They can always cut more City services and employee pay to make up for the deficit.

What makes you and the OP think the EFM won't do the same thing triple fold?

Be careful what you wish for.

What's funny is Detroit will probably still end up in bankruptcy court anyway when it's all said and done. The EFM has no legal basis to tackle the long-term debt, even under the questionable state law.

[GPCharles]

Last I checked, residents of the City of Detroit were able to vote for state representative, state senator and governor.

[Shollin]

Last I checked, residents of the City of Detroit were able to vote for state representative, state senator and governor.

Last I checked state voters voted to repeal the emergency financial manager law.

[Honky Tonk]

Last I checked state voters voted to repeal the emergency financial manager law.

Please feel free to offer me another viable solution, other then handing over more funding that'll never be accounted for.

[Shollin]

Please feel free to offer me another viable solution, other then handing over more funding that'll never be accounted for.

Bankruptcy. Even a federal bankruptcy judge doesn't have as much power as an EFM. I don't understand why an EFM needs to control more than just finances. Besides, it's not like Pontiac or Flint are better off.

[michimoby]

Bankruptcy. Even a federal bankruptcy judge doesn't have as much power as an EFM. I don't understand why an EFM needs to control more than just finances. Besides, it's not like Pontiac or Flint are better off.

You're assuming that Pontiac would be in better shape without an EFM. You're assuming that DPS would be in better shape without an EFM.

The goddamn plane has crashed into the mountain, and what we need is someone to sift through the wreckage and salvage what's left. At the end of the day, though...there was still a plane crash.

[Shollin]

http://www.freep.com/article/2013030...text|FRONTPAGE

It's finally time. At 12pm today, Gov. Rick Synder will announce the action that will be taken in concern to Detroit's financial crisis.

We should have done this a long time ago.

I'm a Detroiter, and I'm saying this. I have no sympathy for what's going to happen to the mayor, and the city council. Should they decide to fight the action, they do so in their own personal interest, not in the interest of the city of Detroit.

Yesterday, a kid was robbed of his shoes and had to walk home barefooted in the snow. I've had enough of the city government's incompetence. I'm sure that most, if not everyone on this forum will agree with me.

What is the mayor supposed to do? Put an armed guard at every bus stop in the city? A financial manager should be managing the finances, not the police department.

[RapBrown]

I know Democracy is inconvenient but a lot of time courts do use it in their decisions. This is absolutely undemocratic and racist. This ahole has been slashing through schools and cities since he got into office, he's ruined the film industry here and never created any jobs. I'd keep this thing tied up in court until his one term is over.

[Honky Tonk]

I know Democracy is inconvenient but a lot of time courts do use it in their decisions. This is absolutely undemocratic and racist. This ahole has been slashing through schools and cities since he got into office, he's ruined the film industry here and never created any jobs. I'd keep this thing tied up in court until his one term is over.

Allright! Trump card!

[Meddle]

Everybody needs to go. Mayor, council and any departments heads they've appointed or recommended. Total cleaning of the outhouse.

All of them, spare no one.

Require an independent comprehensive audit of all city operated accounts and maybe at least some of the crooks that caused the mess will be jailed.

[TKshreve]

Everybody needs to go. Mayor, council and any departments heads they've appointed or recommended. Total cleaning of the outhouse.

All of them, spare no one.

Require an independent comprehensive audit of all city operated accounts and maybe at least some of the crooks that caused the mess will be jailed.

This.

Detroit has to start over. Fresh faces. Fresh motivation.

[Packman41]

Yes, no problem here. Nothing to see, just go about your business as usual – move along.

Meanwhile, from the Financial Review Team http://www.freep.com/assets/freep/pdf/C4201112219.PDF

Annual [[Short-Term) Deficits
Detroit has an inadequate budget process that produced the following “Annual Deficits” [[Year, then Actual Deficit in Millions): 2005 [[$115.4), 2006 [[$173.7), 2007 [[$115.6), 2008 [[$219.2), 2009 [[$331.9), 2010 [[$155.7), 2011 [[$196.6), 2012 [[$326.6). Or, over the 8 year time period an average Annual Deficit of $214.3 Million, per year.

Long-Term Debts
As of June 30, 2012 Long-Term debt is $14.99 Billion. Ok, Ok, some of that is really, really long-term debt or Water & Sewer debt and that will magically disappear with pixie-dust made powdered unicorn horn. But, the fact remains that $2.0 Billion of that debt is near-term and comes due within 5 [[short) years.

What to do.

1. Stop anymore long-term borrowing. Besides, who would buy Detroit bonds that are now junk rated or unrateable? Don’t count on any additional State guarantees.
2. Cut the Annual Deficit to ZERO
3. Also create an operating surplus of $400 million a year for 5 years in order pay off that near-term bond debt of $2.0 billion.

Right, no E[[F)M or Bankruptcy Judge needed here. The City Council, Mayor and a few community activists can handle all this. [[Sarcasm off).