Detroit Six Weeks Away from Possible Bankruptcy

“Sounding at once hopeful and deadly serious about the city he’s trying to turn around, emergency manager Kevyn Orr said Monday he’ll know in as soon as six weeks — after good-faith talks with creditors, unions and others — whether Detroit’s financial meltdown can be resolved outside of a municipal bankruptcy,” the Detroit Free Press reports.

Said Orr: “We’ll get a gauge on whether we have a true partner for an out-of-court solution in that sort of time frame.”