Chrysler Bankruptcy Vet Named Detroit Emergency Manager

Over the protest of city officials and many residents, Michigan Gov. Rick Snyder today made the unprecedented move to appoint an emergency manager who will run Detroit's failing finances and hopefully bring the city back from the brink. Snyder announced that he is naming Washington bankruptcy lawyer Kevyn Orr, at right above, as his candidate for the position, according to the Detroit News. Snyder stressed that Orr still has to be approved by the state's Local Emergency Financial Assistance Loan Board, but it looks like the emergency manager gig will be a go after all. Orr has experience with both dire financial situations and what makes Detroit tick. He helped shepherd Chrysler through their bankruptcy proceedings in 2009. From the News: Read the rest at http://jalopnik.com/chrysler-bankruptcy-vet-named-detroit-emergency-manager-453730601