New Detroit Mayor Bing puts development in trust

DETROIT, May 9, 2009 (AP): Detroit Mayor Dave Bing has put his holdings in a riverfront development project into a blind trust.

The Detroit Free Press reported Saturday the change was made related to the $60 million Watermark project of upscale homes and condos. Public officials often use blind trusts to minimize any potential conflicts of interest.
The NBA great and Detroit businessman was sworn in as mayor during a small ceremony Monday at the city's election commission. Bing's victory in Tuesday's special runoff election (El Cinco de Mayo) over incumbent Ken Cockrel Jr. was also certified Monday.
 

Detroit Mayor Dave Bing

Bing has said he will run for a full, four-year term that begins in 2010.

Information from: Detroit Free Press, http://www.freep.com