DETROIT — The governor’s nominee to become Detroit’s emergency financial manager says the job is the “Olympics of restructuring” but he feels compelled to take it on.
Michigan Gov. Rick Snyder announced Thursday that he’s recommending that a state panel name bankruptcy expert Kevyn Orr to the job of restructuring Detroit’s finances and bringing its budget back into balance.
A state panel is expected to consider the nomination Thursday afternoon.Orr says Detroit is a “storied American city” that can “rise from the ashes.”
Orr says he’s met with Detroit Mayor Dave Bing and says the city’s elected leader is “willing to be part of the solution.”
He says he hopes the City Council also will work with him.
Orr represented the automaker Chrysler during its successful restructuring.
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