In a statement released shortly after the historic ruling by Judge Steven Rhodes historic ruling on the city of Detroit’s bankruptcy, GM CEO Mary Barra (a native of the Metro Detroit area herself) shared her thoughts on the historic legal ruling in an MLive report. Barra also highlights the importance as well as the challenges the city faces moving forward in its ongoing effort to resurrect itself from nearly 60 years of decline and financial mismanagement which (along with political corruption and incompetence) were the two key elements that eventually drove Detroit into bankruptcy last year.
Barra praised the ruling while also highlighting the monumental task ahead stating:
Judge Steven Rhodes decision is historic and a validation for everyone who has been committed to Detroit. Working together, we can transform the city and you can see the clear progress in the restoration of downtown, the entrepreneurs who are flocking here, the massive building projects getting underway and the work being done to improve education, neighborhoods and city services.
While Barra’s statement is not the first regarding the city of Detroit’s bankruptcy proceedings (other local business leaders have also released their opinions on the ruling), it does show that the local business community (GM being the biggest player) as a whole is ready to help contribute in Detroit’s ongoing restructuring efforts.