The idea is extreme, even in a city accustomed to fighting for survival: Should the state of Michigan step in to run Detroit?The governor has taken steps in that direction, proposing an unprecedented move that could give an appointed manager virtually unchecked power to gut union contracts, cut employee health insurance and slash services....
An emergency financial manager would have the power to privatize utility departments, as well as the bus system and other agencies. A manager also could sell off city-owned parking lots and even Belle Isle, Detroit's popular island park, LaFaive said.....
"It's daunting anywhere but, yeah, you can fix it," Schimmel said of Detroit. "First, I'd want a list of all assets the city owns — the land, buildings, operations the city shouldn't operate and should sell. The lighting system is still run by Detroit. That's crazy. I'd want to concentrate on privatizing core services. I'd want to get police and fire contracts in line."Read the whole article at CBS News
Detroit in a hostile takeover bid?
(h/t Mish)
2 comments:
Time to bring back Nixon's solution -- revenue sharing.
Was that about Detroit or Greece?
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