Detroit finance team meets for first time

Jun 15, 2012

Detroit mayor Dave Bing opened the first meeting of the city's newly formed financial advisory board by telling its members their task is to help return Detroit to greatness.

The problem is, the city has a massive budget deficit to wrestle with while it tries to keep the street lights on and the busses running.

Sheila Cockrel served on the city council for 16 years before retiring in 2009. She says there needs to be a major shift in the culture for the intervention to work.

"Them and us doesn't work," Cockrel said. "This is not someone taking something away. This has got to be everybody coming to the table for the common good and for the greater good. 'Cause what's good for Detroit is good for Michigan."

The nine-member board is mandated by the city's consent agreement with the state.