Snyder and Orr explain why Detroit filed for bankruptcy - New York News

Snyder and Orr explain why Detroit filed for bankruptcy

Posted: Updated:
Gov. Rick Snyder and Emergency Manager Kevyn Orr Gov. Rick Snyder and Emergency Manager Kevyn Orr
  • Detroit BankruptcyMore>>

  • Schuette endorses Detroit art deal in bankruptcy

    Schuette endorses Detroit art deal in bankruptcy

    Tuesday, June 17 2014 1:47 PM EDT2014-06-17 17:47:06 GMT
    Michigan Attorney General Bill Schuette has given his blessing to a deal that transfers control of art to the Detroit Institute of Arts.
    Michigan Attorney General Bill Schuette has given his blessing to a deal that transfers control of art to the Detroit Institute of Arts.
  • Detroit files plan to fix debt, leave bankruptcy

    Detroit files plan to fix debt, leave bankruptcy

    Friday, February 21 2014 12:49 PM EST2014-02-21 17:49:57 GMT
    Detroit's emergency financial manager filed a plan Friday that would bring the city out of bankruptcy, providing a detailed look at what the Motor City would look like when it finally sheds its financial burdens.
    Detroit's emergency financial manager filed a plan Friday that would bring the city out of bankruptcy, providing for the first time a detailed look at what the Motor City would look like when it finally sheds its financial burdens.
  • Gov. Snyder: 'Detroit's comeback is underway'

    Gov. Snyder: 'Detroit's comeback is underway'

    Friday, February 21 2014 11:35 AM EST2014-02-21 16:35:28 GMT
    Gov. Rick Snyder issued the following statement today on the filing of a plan of adjustment by  Detroit Emergency Manager Kevyn Orr that is part of the city's restructuring.
    Gov. Rick Snyder issued the following statement today on the filing of a plan of adjustment by  Detroit Emergency Manager Kevyn Orr that is part of the city's restructuring under Chapter 9 of the U.S. Bankruptcy Code.
DETROIT (WJBK) -

All eyes are on the Motor City. Friday, Governor Rick Snyder and Emergency Manager Kevyn Orr were squarely in the spotlight explaining to the world why Detroit has become the largest city in U.S. history to file for municipal bankruptcy.

"This is the time to say enough is enough in terms of the downward decline of Detroit," Snyder said. "The city is basically broke. It has $18 billion in liabilities. That's an unsustainable level of debt."

"There's no way home from that equation. There's no amount of revenue that we could generate to try to address it, so we have to treat it in this fashion of bankruptcy," Orr said.

Watch the second video for our extensive interview with Kevyn Orr about the bankruptcy filing.

While Detroit is being crushed by its massive debt and long term liabilities, city services are suffering and have been for decades. That is something both Snyder and Orr said this bankruptcy could change.

"What would happen if we didn't do this act? Detroit would continue to go downhill, and it wouldn't be the lowest day in Detroit's history. That day would continue day after day, and that's not right ... for the citizens. There are too many people walking to school, trying to make a livelihood in the city, that are putting up with things that just don't make sense," the governor said.

Average Detroiters will not lose any current city services, but there will be some who will feel the pain.

"It's a tragedy for retirees who have worked long and hard for the City of Detroit," said Ed McNeil with AFSCME.

Detroit's unions and pension boards have been in court fighting to protect benefits.

George Orzech is the chairman of the Detroit Police and Fire Pension Board. He said, "If it comes down to a battle, it may have to go all the way to the United States Supreme Court, if that's what they're going to choose."

"To anyone who thinks I wasn't negotiating in good faith when they're suing me, I ask you to look at that context, that your decision instead of coming to the table with me is to continually file suits against me," Orr said.

Both sides hope they can reach an agreement because kicking the can down the road is no longer an option.

"Let's get Detroit on the path to being a great city again because that's critically important to all of Michigan," Snyder said.

Meanwhile, a court in Ingham County has already said the city did not have the right to file for bankruptcy. The attorney general is now taking that to the Court of Appeals, and we can expect the legal battles to continue.

  • Local NewsLocal NewsMore>>

  • SummerStage: you still have time to catch a show

    SummerStage: you still have time to catch a show

    Monday, July 28 2014 10:22 PM EDT2014-07-29 02:22:53 GMT
    You've got a few more weeks to enjoy SummerStage, New York's annual performing arts showcase that's 28 years running. But it's not just music: there is dance, comedy, theater, you name it. There are several shows weekly at 14 different parks throughout the five boroughs. A recent show at Rumsey Playfield in Central Park paid tribute to Pete Seeger. Most of the shows are free and are funded by tickets purchased for the some of the bigger acts.
    You've got a few more weeks to enjoy SummerStage, New York's annual performing arts showcase that's 28 years running. But it's not just music: there is dance, comedy, theater, you name it. There are several shows weekly at 14 different parks throughout the five boroughs. A recent show at Rumsey Playfield in Central Park paid tribute to Pete Seeger. Most of the shows are free and are funded by tickets purchased for the some of the bigger acts.
  • NY teacher tenure system faces new legal challenge

    NY teacher tenure system faces new legal challenge

    Monday, July 28 2014 10:14 PM EDT2014-07-29 02:14:16 GMT
    An educational advocacy group led by former CNN journalist Campbell Brown is challenging New York state's teacher tenure system, filing a lawsuit Monday that alleges that job protections unfairly shield bad teachers. Seven parents of public school children from New York City and Rochester are the plaintiffs in the lawsuit, filed in Supreme Court in Albany.
    An educational advocacy group led by former CNN journalist Campbell Brown is challenging New York state's teacher tenure system, filing a lawsuit Monday that alleges that job protections unfairly shield bad teachers. Seven parents of public school children from New York City and Rochester are the plaintiffs in the lawsuit, filed in Supreme Court in Albany.
  • 2 U.S. marshals, 1 NYPD detective wounded; fugitive killed in Manhattan

    2 U.S. marshals, 1 NYPD detective wounded; fugitive killed in Manhattan

    Monday, July 28 2014 10:10 PM EDT2014-07-29 02:10:52 GMT

    Two deputy U.S. marshals and an NYPD detective were seriously wounded in a shootout with a fugitive sexual assault suspect in the West Village in Manhattan, officials said. The shootout happened in smoke shop called Smoking Culture on West 4th Street near Jones Street.

    Two deputy U.S. marshals and an NYPD detective were seriously wounded in a shootout with a fugitive sexual assault suspect in the West Village in Manhattan, officials said. The shootout happened in smoke shop called Smoking Culture on West 4th Street near Jones Street.


  • Local NewsLocal NewsMore>>

  • Man shot, killed during carjacking on Detroit's west side

    Man shot, killed during carjacking on Detroit's west side

    Monday, July 28 2014 10:37 PM EDT2014-07-29 02:37:16 GMT
    A man was shot to death in an attempted carjacking on Detroit's west side, according to police.
    A man was shot to death in an attempted carjacking on Detroit's west side, according to police.
  • Man accused of calling taxi to move a body

    Man accused of calling taxi to move a body

    Monday, July 28 2014 10:20 PM EDT2014-07-29 02:20:50 GMT
    A mother is struggling with the fact that her 21-year-old daughter lost her battle with drug addiction, and then she learns the despicable lengths two people went to get rid of her child's body.
    A mother is struggling with the fact that her 21-year-old daughter lost her battle with drug addiction, and then she learns the despicable lengths two people went to get rid of her child's body.
  • Detroit teen recovering after basketball accident at park

    Detroit teen recovering after basketball accident at park

    Monday, July 28 2014 10:03 PM EDT2014-07-29 02:03:32 GMT
    A Detroit teen is seriously hurt after an accident at a detroit park. He has a long road to recovery ahead, but has a strong support system that isn't giving up hope.
    A Detroit teen is seriously hurt after an accident at a detroit park. He has a long road to recovery ahead, but has a strong support system that isn't giving up hope.

Powered by WorldNow
Didn't find what you were looking for?
All content © Copyright 2000 - 2014 Fox Television Stations, Inc. and Worldnow. All Rights Reserved.
Privacy Policy | Terms of Service | Ad Choices