Rick Snyder To Announce Emergency Financial Manager Today

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Rick Snyder at rally-thumb-590x392-59573Gov. Rick Snyder is expected to announce his choice for emergency financial manager for the City of Detroit during a news conference today.

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As first reported Monday night on freep.com, Snyder is widely expected to name high-powered Washington, D.C., lawyer Kevyn Orr, 54, who worked in a number of federal government roles and had a hand in Chrysler’s bankruptcy turnaround. Snyder’s office would not comment beyond an advisory about the news conference set for 2 p.m. today at state offices at Cadillac Place, the former General Motors headquarters on West Grand Boulevard.

Immediately after Snyder’s announcement, the state’s Local Emergency Financial Assistance Loan Board is scheduled to meet in Lansing. Under state law, the board officially hires the EFM and sets a salary.

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