Michigan Governor Rick Snyder took to the podium in the State’s Cadillac Place office Thursday afternoon and, flanked by Detroit Mayor Dave Bing, solemnly spoke the words most have described as inevitable for quite some time. Just two days after the appeal hearing requested by the Detroit City Council, the Governor declared the financial emergency and introduced the man who would take the operational reins of State’s largest city.

Washington, DC-based lawyer Kevyn Orr, a turnaround and bankruptcy attorney with the international law firm of Jones Day, will be paid $275,000 per year for the position, which he has termed “the Olympics of restructuring.” The Chevy Chase, Maryland resident resigned from his partnership with Jones Day, where he was slated to open a new office in Miami.

Orr received both his undergraduate and law degrees from the University of Michigan.

In somewhat of a surprise development, the Detroit City Council has opted not to continue its appeal of the financial emergency declaration and EFM appointment. Council member JoAnn Watson had prepared a proposal for the Council to consider providing for the hiring of the Sugar Law Center to represent the Council in the Circuit Court. After an hour in closed session with the city’s lawyers, Council members reappeared and Watson withdrew her motion.