Detroit's EM postpones bus tour for city creditors - New York News

Detroit's EM calls off bus tour for city creditors

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Detroit Emergency Manager Kevyn Orr Detroit Emergency Manager Kevyn Orr
DETROIT, Mich. (WJBK) -

Emergency Manager Kevyn Orr is asking Detroit's creditors to accept a lot less than what they are owed. Wednesday, he planed to show them why.

"We had a couple buses ready to go," said Bill Nowling, the emergency manager's spokesperson. "We wanted them to see what a blighted neighborhood looks like. We wanted them to ride on a bus that most Detroiters rely on for transportation to get to school, to work."

More than 30 Wall Street bankers would have boarded Detroit city buses and rode along streets such as Grand River, Gratiot and into neighborhoods like Brightmoor, Detroit's east side and southwest Detroit.

However, just a day before their tour, the creditors passed.

"One of the reasons was that they wanted to spend more time looking at the city's books and doing their due diligence," Nowling said. "Some had expressed concern about the media hype around the tour."

"We're still willing to do it if they're willing to do it, and the emergency manager certainly encourages them to drive around the city to see the challenges."

Orr will be meeting with creditors on Wednesday.

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