Media Report
April 4, 2012Detroit Free Press publishes WSU President Emeritus Irvin D. Reid's letter about the city's financial crisis
http://www.freep.com/article/20120403/OPINION05/120403054/Irvin-Reid-Detroit-needs-an-emergency-manager-?odyssey=tab%7Cmostpopular%7Ctext%7COPINION
Irvin D. Reid, a member of the Financial Review Team for Detroit, Wayne State University president emeritus and Eugene Applebaum chair, opines about the need for a financial manager in the city. He writes: “Detroit’s leaders are fiddling while the city burns. We are collapsing under the weight of debt created by legacy costs, uncollected revenues and bloated payrolls for too many city workers for a population only 40 percent of its size just 15 years ago. Detroit still has a footprint designed to serve that former population, but a third of the city is vacant.”
Irvin D. Reid, a member of the Financial Review Team for Detroit, Wayne State University president emeritus and Eugene Applebaum chair, opines about the need for a financial manager in the city. He writes: “Detroit’s leaders are fiddling while the city burns. We are collapsing under the weight of debt created by legacy costs, uncollected revenues and bloated payrolls for too many city workers for a population only 40 percent of its size just 15 years ago. Detroit still has a footprint designed to serve that former population, but a third of the city is vacant.”
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