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News Link • Economy - Economics USA

Michigan governor approves state takeover of Flint, Michigan

• Reuters

Michigan Governor Rick Snyder approved a state takeover of the city of Flint on Tuesday, following a review team's assessment earlier in the month that the city, a former manufacturing hub for the auto industry, is in a financial emergency.

Snyder named Michael K. Brown, a former mayor of Flint, as the emergency financial manager for the city.

Flint is now the fifth municipality in Michigan to come under a state-appointed manager. The move comes as Detroit, the state's biggest city, struggles with fiscal problems that have already threatened to take it down the same road.

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