Bing declares that the only way Detroit will rebound is through regional cooperation.
Excerpt:
Detroit Mayor Dave Bing and Detroit Public Schools emergency financial manager Robert Bobb are both laying out their plans on how to restructure the city and the educational system.
Bing and Bobb are speaking at a luncheon at the Detroit Yacht Club on Belle Isle hosted by Inforum, Michigan's largest professional women's organization.
Bing, who spoke first, described how the city is in financial straits, and again warned the city could run out of cash before the fiscal year ends. Bing said when he walked into the mayor's office four months ago, he was greeted with a $280-million accumulated budget deficit.
He said the only way Detroit will rebound is through regional cooperation.
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