Ed Kurtz

Economy
4:15 pm
Thu September 13, 2012

Flint's Citizens Bank is being sold to Ohio bank

The Citizens Bank 'weatherball' has been a Flint landmark since the 1950's. But for how much longer?
Steve Carmody/Michigan Radio

There are concerns that Flint could lose a major corporate headquarters.

Flint-based Citizens Bank is being bought by an Ohio bank for nearly a billion dollars.

Citizens has been an important institution in Flint since the bank was founded in 1871.  Citizens Bank loaned General Motors founder William Durant money he needed to start his manufacturing career.

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Politics & Government
11:08 am
Tue August 28, 2012

Flint leaders intend to challenge current emergency financial manager in court

Michigan Municipal League Flickr

Michigan's emergency manager law has been put on hold.

Its fate will be decided by voters this November.

In the meantime, cities and school districts once ruled by emergency managers now have emergency financial managers overseeing their budgets.

Public Act 72 was revived when Public Act 4 went up on the shelf.

Flint's City Council voted last night to challenge this rollback in court. Kristin Longley of the Flint Journal reports:

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Politics & Government
6:20 pm
Mon August 27, 2012

Flint's new emergency manager says city does, in fact, need an EM

Flint Emergency Financial Manager Ed Kurtz
City of Flint

Flint's new emergency financial manager disagrees -- strongly -- with recent assertions by the city council's president that Flint doesn't need an emergency financial manager anymore.  

Ed Kurtz was Flint's Emergency Financial Manager a decade ago. He says the city is in much worse shape than the first time he was in charge.

The city has $19 million  of debt, and nearly $1.5 billion in underfunded pension and retiree health care costs.

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