Kevyn Orr
Detroit Emergency Manager Kevyn Orr warned Friday that doomsday lies ahead if retirees vote to reject the grand bargain.
The plan spares the DIA art and eases pension cuts.
The Detroit Free Press reports that Orr says they are at grave risk of more cuts if that deal collapses.
“We want to make sure people understand that it doesn’t get better by voting no,” Orr said on the final day of the Detroit Regional Chamber’s annual policy conference on Mackinac Island.
Meanwhile, the Detroit News writes:
Detroit Emergency Manager Kevyn Orr said Friday the city’s aggressive financial creditors are spreading “misinformation” about the city’s plan favoring a preservation of art to bolster pensions over other unsecured creditors.
Speaking at the last day of the Detroit Regional Chamber’s annual policy conference, Orr accused “very ticked off” bond insurers of waging a “very concerted and focused campaign to undermine the proposal we had on the table.”
He said that some were sending misinformation to the financial press in New York.
