In a small public-TV studio before an invitation-only audience of 30 people, Michigan Gov. Rick Snyder made his case Friday for taking control of Detroit's finances away from the city's elected officials.
The state's signature city is grappling with a declining population, a dwindling tax base and decades of mismanagement — including corruption so pervasive at times that former Mayor Kwame Kilpatrick is currently on trial for federal racketeering charges.
The General Motors world headquarters building dominates the Detroit skyline.
Credit Bill Pugliano / Getty Images
Saying it was a "sad day," Michigan Gov. Rick Snyder declared a financial emergency in the city of Detroit. He said that while it would not be appropriate to appoint an emergency manager, now, he would think about doing so after March 12. That's the day set aside for a hearing, if the city appeals his decision.
"I do have a top candidate," Snyder said during a press conference.