[lynchburgwildcats]

Bankruptcy may be inevitable for Michigan's largest city.

State leaders, including Gov. Rick Snyder, are working on a plan to guide the city through a "managed bankruptcy," according to Daniel Howes at The Detroit News. An emergency fiscal manager likely would take over the city, supplanting a mayor and City Council that have been unable to implement meaningful reforms.

http://www.mlive.com/news/detroit/index ... uptcy.html