Bankruptcy expert who helped Chrysler named Detroit emergency manager Read more: http://www.foxnews.com/politics/2013/03/14/bankruptcy-expert-who-helped-chrysler-named-detroit-emergency-manager/#ixzz2NlNqn6AL

A bankruptcy expert who represented automaker Chrysler LLC during its successful restructuring has been chosen to steer Detroit out of its financial abyss. The distressed city, which was once one of the nation's most prosperous manufacturing centers, is now the largest U.S. city to have its finances placed under state control. Gov. Rick Snyder announced Thursday that he had chosen Kevyn Orr, a partner in the Cleveland-based law and restructuring Jones Day firm, as Detroit's emergency manager. He officially will be hired by Michigan's Emergency Loan Board, which had scheduled a meeting for 3 p.m. EDT Thursday. During a news conference Thursday, Orr called Detroit a "storied American city." "We can rise from the ashes," Orr said. "This is a beautiful city and a wonderful state that gave me my start. I feel compelled to do this job." Read more: http://www.foxnews.com/politics/2013/03/14/bankruptcy-expert-who-helped-chrysler-named-detroit-emergency-manager/#ixzz2NlNvTx9t