Fred P. Leeb has been tasked with turning around the finances of city of Pontiac, Mich., which is deep in debt. One of his initiatives was to sell the vacant Silverdome, the former home stadium of the Detroit Lions that has been empty for eight years.
Nikki Kahn-The Washington Post
Leeb, a 57-year-old executive with business turnaround experience, has slashed city payrolls, cut expenses on photocopiers and printers (savings: $54,000 a year), and renegotiated an expensive contract with the Pontiac firefighter's union.
Nikki Kahn-The Washington Post
Chairs sit askew in what used to be the Main Event restaurant at the Pontiac Silverdome. Taxpayers built the Silverdome for the Detroit Lions in 1975 and at the time it was the NFL's largest stadium and was profitable while the team was there. When the Lions left in 2002 for a new home at Ford Field in Detroit, the team paid Pontiac $26 million to break the lease.
Nikki Kahn-The Washington Post
Pots hang unused in the kitchen of the Silverdome. The venue was recently sold to a Canadian developer, who was taken by surprise when his bid won out. He paid only $583,000 for the 80,300-seat stadium and 127 acres of land.
Nikki Kahn-The Washington Post
Leeb walks through the Silverdome, which has been costing the city of Pontiac $1.5 million a year to maintain since the Detroit Lions left.
Nikki Kahn-The Washington Post
In an effort to subsist on ever-shrinking revenues, governments across the country are trying to find whatever ways they can to lessen their obligations, including getting public property off their books. Leeb, standing inside the Silverdome, is slashing programs that have become a major burden in a time of recession.
Nikki Kahn-The Washington Post
Main Street Pawn Shop on Saginaw Street in Pontiac drew few customers on a recent evening.
Nikki Kahn-The Washington Post
"You gotta have a lot of faith," says diner owner Nick Mansour, who has seen a decrease in business since the decline of the auto industry.
Nikki Kahn-The Washington Post
Shelby Berger, owner of Main Street Pawn Shop, has seen an increase in business as people look to sell their cars and trucks after losing their jobs.
Nikki Kahn-The Washington Post
Pablo Nieves, left, and Quintino Vicens watch as a house is torn down on their block. Though as many as 23,000 auto industry jobs could once be found in Pontiac, today there are less than 4,000.
Nikki Kahn-The Washington Post
Bill Koresky with Able Demolition dismantles an abandoned house on Tregent Street. Real estate prices in the city have fallen as much as 50 percent on housing and almost as much on office buildings and shopping malls.
Nikki Kahn-The Washington Post
Koresky with Able Demolition carries a sign that he will put up at the site of the demolished home.
Nikki Kahn-The Washington Post
The crew continues the demolition of an abandoned home on Tregent Street.
Nikki Kahn-The Washington Post
A rusty Chrysler Plymouth sits abandoned on Moreland Avenue. Of his efforts to turn things around in Pontiac, Leeb said, "You don't do these things with one silver bullet and everything's fine. You have to do a thousand things to be successful."
Nikki Kahn-The Washington Post
Gallery Credits:
Text Editor Sarah Halzack
