"With Detroit projected to run out of money in May, Mayor Dave Bing is calling on Michigan's governor to give the city a loan rather than appoint a financial overseer who would have broad power to cut costs and break union contracts.

Mr. Bing, a Democrat who intends to run for a second term next year, said he wants Republican Gov. Rick Snyder to lend Detroit $125 million to $150 million to help the long-struggling city stay solvent over the next 12 months. If Mr. Snyder declines, Mr. Bing would request that the state back Detroit's efforts to secure financing ...


*http://online.wsj.com/article/SB1000...549823476.html