Christie Pushes State Takeover To Fix Atlantic City

By Andrew Scurria (January 22, 2015, 11:44 AM EST) -- New Jersey Gov. Chris Christie on Thursday installed an emergency manager to rescue Atlantic City's finances from a brutal downturn in gaming tax revenues, tapping a turnaround team featuring the man who oversaw Detroit's restructuring, former Jones Day partner Kevyn Orr.

The governor's office launched a dramatic state takeover of the beleaguered city, appointing restructuring lawyer and FTI Consulting Inc. executive Kevin Lavin as emergency manager and seeking a "comprehensive overhaul" of Atlantic City's government.

Atlantic City Mayor Don Guardian has spoken out against the installation of such a figure, the harshest of a series of reforms proposed in November by...

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