On September 12, 2011 Louis Schimmel was appointed the City of Pontiac Emergency Financial Manager by Governor Rick Snyder. Prior to his becoming the city’s Emergency Financial Manager Mr. Schimmel was the Executive Administrator in the City of Warren.
In February 2001, Mr. Schimmel retired as the Executive Director of the Municipal Advisory Council of Michigan (MAC), a statistical clearing house for investment bankers located throughout the United States who underwrite and/or invest in Michigan municipal bond issues. Mr. Schimmel has a vast background in municipal finance, has served on numerous boards and commissions, has authored several articles and trade publications and continually advised state and local officials on fiscal matters. He is recognized in the municipal bond industry as an authority on the creditworthiness of Michigan municipal debt issues
In December, 1986 the Wayne County Michigan Circuit Court appointed Schimmel to be the Receiver for the debt-ridden City of Ecorse. He served as the City's Receiver for nearly 4 years during which period he completely eliminated the City's $6,000,000 deficit by negotiating unique labor union contracts and by privatizing nearly all services provided by the City. In November 2000 the State of Michigan appointed Schimmel to again bail out a financially troubled city – this time the City of Hamtramck. During his 5 years as the State appointed Emergency Financial Manager in Hamtramck he sold unused assets, out sourced services, resolved numerous long standing legal matters and streamlined city government operations.
In 2008 Mr. Schimmel was appointed a member of the Legislative Commission on Statutory Mandates. In 1999 Schimmel was appointed by Governor Engler and served on the Michigan Commission on Public Pension and Retiree Health Benefits. In 1992 Schimmel was appointed a member of the Michigan Public--Private Partnership Commission which submitted an extensive report to the Governor for improving service delivery and increasing efficiency in State government. In 1990 he received the “Outstanding Service and Leadership in the Public Sector” award from the Michigan State Chamber of Commerce and in 2005 he was awarded the Mackinac Center for Public Policy’s “Lives, Fortunes and Sacred Honor Award” for his successful and energetic management of two financially distressed Michigan cities.
In the past Mr. Schimmel served on the Waterford, Michigan School Board for eight years--two years as board president. He is a past president of the Bond Club of Detroit. He also served on the Board of Directors and Executive Committee of the Pontiac State Bank from 1972 to 1988. He is a graduate of Michigan State University.