Turnaround team appointed for Atlantic City: N.J. governor

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By Daniel Kelley and Hilary Russ ATLANTIC CITY, NJ/NEW YORK (Reuters) - New Jersey Governor Chris Christie on Thursday appointed a turnaround team, including former Detroit emergency manager Kevyn Orr, for Atlantic City in a step the struggling casino town has resisted. Atlantic City's municipal finances have declined with the fortunes of the local casino industry, which has suffered steep losses due to competition in nearby states. The team will be led by Emergency Manager Kevin Lavin, who previously worked for business and turnaround consultancy FTI. A former corporate bankruptcy lawyer at the firm Jones Day, Orr most recently guided Detroit through the biggest-ever U.S. municipal bankruptcy.

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