Detroit's finances 'shocking,' city manager testifies

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By Joseph Lichterman and Bernie Woodall DETROIT (Reuters) - Detroit's emergency manager painted a picture of a city in dire financial straits in testimony on Monday, with budgets so strained that bumpers were falling off police cars, as he laid out the city's case of why a municipal bankruptcy filing was the only way back to health. Kevyn Orr, the emergency manager, sparred with a lawyer representing city retirees in the fourth day of Detroit's landmark bankruptcy eligibility trial. Michigan Governor Rick Snyder began to testify Monday afternoon, a rare court appearance by a sitting governor. ...




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