Emergency Manager's report spells out Detroit's financial troubles

10:52 am
Mon May 13, 2013

Emergency Manager's report spells out Detroit's financial troubles

Lead in text: 
Report is first by Kevyn Orr since he was appointed Emergency Manager for Detroit in March
Kevyn Orr's report, mandated by the state after an emergency manager's first 45 days in office, confirms a city in desperate shape, with costs for retiree benefits eating up a third of its budget and public services suffering as Detroit's revenues and population shrink each year.