Three Financial Managers Later, Is Pontiac Better Off Today?

Oakland Press:

Is Pontiac better off three years later?

By his own estimates, Lou Schimmel said he would likely leave office about two years after being named Pontiac’s third emergency manager, following Emergency Manager Michael Stampfler and Emergency Financial Manager Fred Leeb.

That will make about five years Pontiac was under the control of a state appointee.

It also makes 2012 a little more than halfway into a controversial method of correcting a city plagued with unemployment, dwindling property values and inability to meet financial obligations.

So is Pontiac doing better?

Read the whole story: Oakland Press

Comments

[Eddie VanderMolen]

11:10 AM on 02/17/2012

Austerity never, NEVER improves communities. The objective of these EMs is to take over the commons at a bargain discount. Selling off the Silver Dome for a half million?! This is nothing but, garden variety crony capitalism. They want to buy up government services, in the name of efficiency, and then socialize the risks and losses while privatizing the gains and profits. It's all typical. Michigan is playing the part of Chile and Snyder, Pinochet.