Update 11:50pm: In his victory speech Governor-elect Rick Snyder says he'll apply business principals to resolve Michigan's economic troubles, including tax cuts and smarter regulation:
Update 10:39pm: Virg Bernero talks to crowd at party
Update 10:09pm: Virg Bernero has conceded defeat. He's giving a speech now.
Update 9:30: Detroit Mayor Dave Bing says crowd needs to show Virg Bernero the "love and respect" he deserves when he comes down to make his speech.