Detroit emergency manager, a job for a "poor devil"
(Reuters) - Wanted: A financial whiz with powers of persuasion, an acute political radar and thick skin, for the demanding assignment of taking over a major American city on the brink of bankruptcy.
That's what Michigan Governor Rick Snyder is likely looking for as he decides whether to appoint an emergency financial manager for the city of Detroit, according to restructuring experts and Michigan politicians.
Snyder revealed this week that he has a "short list" of candidates for the job. He still awaits a report from a team of advisers to decide whether Detroit needs an emergency manager, said spokeswoman Sara Wurfel, but is "talking to and looking for prospective qualified candidates."
It's a job few may want as it will probably involve decisions that could lead to further cuts in jobs and services in a city that has been in decline for a long time - with its high crime rate, abandoned buildings and many unlit streets.
Still, success could make the manager a star in the world of restructuring - especially given a number of other financially distressed cities in the United States which might have to seek a similar savior.
http://www.reuters.com/article/2013/02/15/us-usa-detroit-manager-idUSBRE91E06G20130215