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Detroit bankruptcy expects little new borrowing

DETROIT (WKZO) -- Detroit's Emergency Manager Kevyn Orr says he believes the city can make its way through bankruptcy without much new borrowing.  Reuters quotes Orr as saying, "If we can get our cash flow free-and-clear, we may be able to get through this thing without necessarily borrowing a lot of money."

Orr says that he believes the process can be completed in 14 months.  That means his services would no longer be needed by the time his contract expires in October of 2014.