Weekend Economists Escape to Cuba March 15-17, 2013

[DemReadingDU]

29. Detroit Kevyn Orr connected to Columbus National Century Financial

3/16/13 Detroit’s emergency manager: Who is Kevyn Orr?
Kevyn Orr, who was named Thursday by Michigan Governor Rick Snyder as emergency manager over the city of Detroit, is a wealthy Washington DC attorney specializing in bankruptcy law. A native of Florida, Orr graduated from the University of Michigan law school. He will be paid $275,000 a year for his job as financial dictator of the city of Detroit. A new state law soon to take effect will give him sweeping powers to rip up labor agreements, sell city assets and privatize services.

In accepting the appointment he declared, “I’m prepared to be the most hated man for a period of time.” Indeed. Orr’s background demonstrates that he is a ruthless defender of corporate interests and a bitter enemy of working people.

Orr, who says he is a lifelong Democrat, played a role in the presidential campaigns of John Kerry and Barack Obama. He took part in the Obama administration’s forced bankruptcy and restructuring of the auto industry in which tens of thousands of jobs were eliminated, retiree health benefits slashed and new-hire pay cut by half.

Orr played a leading role in convincing the bankruptcy court to allow Chrysler to close one quarter of its US dealerships, some 800 in total. The closings cost thousands of workers their jobs and dealt a heavy blow to the economies of many small towns across the United States. For his services with Chrysler, Orr reportedly charged $700 per hour.

In another major bankruptcy case, Orr represented National Century Financial Enterprises. Lance Poulsen, former National Financial CEO, pleaded guilty in 2008 to defrauding customers before the collapse of the health care financing company in 2002. Poulsen and six other high ranking executives of the firm were named in a 60-count indictment handed down by a federal grand jury in 2006.

more...
http://www.wsws.org/en/articles/2013/03/16/korr-m16.html



Link backwards to previous articles about Columbus, Ohio saga of National Century Financial Enterprises...
http://www.democraticunderground.com/111632224#post9