"This is a story that's not over," Snyder said at a news conference celebrating bipartisan support in the state Legislature for a deal that many never imagined would come. "So while we celebrate today, let's recognize there's more work to be done."
They'll have fewer sacrifices if they vote yes on the plan of adjustment, he Nike Leggings Green
195M from state heading toward Detroit
JUNE 13: Detroit reaches more bankruptcy deals with creditors
The only thing separating Detroit from the rest of Michigan is a comma. District Court, state appointed emergency manager Kevyn Orr and many more city and state leaders who spoke of gratitude for unusual bipartisanship at a critical moment for Detroit. They praised Rosen Nike Shorts Navy Blue
The city filed for the largest municipal bankruptcy in history July 18, and a Nike Fill Jacket
THURSDAY: Michigan gov signing bill Friday to send $195M to Detroit
"We want our right to earn our way out of review, oversight," said Detroit Mayor Mike Duggan, who took office in January.
Snyder signed the legislation, which sends $195 million to Detroit, with strings attached. A nine member commission will oversee the city's finances, budgets and contracts for at least 13 years and set the level of contributions made to city employees' retirement and health care plans.
trial on Detroit's restructuring is set for Aug. 14 and could last five weeks. Orr has said he hopes to have Detroit out of bankruptcy by the end of this summer.
While the signing of the legislation marks an important milestone in Detroit's recovery, Snyder also said, "This bankruptcy is a terribly difficult thing, and to be open, people are making real sacrifices." Retirees in particular are being asked for difficult to accept cuts to their pension and health care benefits, and "no one should ever forget that. We should Nike T Shirts Kids always be thankful."
and leaders of the major philanthropic foundations who've pledged more than $450 million to help offset pension and health care cuts for Detroit's retirees.
But all the pomp and circumstance of Gov. Rick Snyder's signing at the former Globe Trading Co. building along Detroit's revitalizing riverfront could be for naught if the city's workers and retirees reject their part of what has been dubbed the "grand bargain."
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