Sometimes the right choices are the hardest ones.
Detroit’s bankruptcy is a defining moment in the life of a great city. While no one can say for certain what lies ahead, there’s more reason to believe this is the start of a new beginning, not a final chapter with a sad ending. Bankruptcy gives City government the opportunity to restructure its finances so it can deliver better police, sanitation and transit services. One can only imagine how much additional growth Detroit could experience if it was safer, cleaner and more effective given the unprecedented level of private investment, foundation support and influx of young professionals occurring today.
The Governor said it best when he called on all of us to look at bankruptcy not as an end, but the beginning of improving the lives of the 700,000 people living in Detroit and those who come to work there every day.
No one can be surprised bankruptcy happened. Business Leaders for Michigan’s predecessor, Detroit Renaissance, funded the completion of restructuring plans for nearly every Administration over the past thirty years. Each one identified a looming crisis and outlined steps that would save money and improve services. But few of the recommendations were fully implemented and many were ignored.