Detroit Mayor Bing says city running out of cash
DETROIT – Mayor Dave Bing says Detroit could run out of cash within 70 days and is on the brink of receivership.
Bing said Monday he wants unionized city employees to accept a 10 percent wage cut by month's end.
Bing told reporters nonunion city workers will take a 10 percent pay cut as he attempts to slice into a $300 million deficit.
Bing gave union leaders a 30-day deadline in early July to decide on contract concessions. The deadline passed last week.
AFSCME Local 207 President John Riehl says his union leadership is pushing for a strike. Riehl says the city's unions are working under expired 2005-2006 deals, and negotiations for new contracts began in spring 2008.