Is there hope for reform of Memphis City Schools and consolidation?

Yesterday, the Commercial Appeal speculated that Mayor Herenton would advise the Memphis City Council to keep funding the Memphis City School system. Instead, he told the council that it might be a good idea to withold funding:

This could present a great opportunity to reform the governance of the city schools and operation of the city schools. I am moving to the opinion there needs to be a dramatic reform.

Recent legal opinions suggest that if the city stopped contributing to the school system budget, Shelby County Government would be forced to absorb all funding responsibillity. This is one way to begin the process of consolidating Memphis and Shelby County government and try to reform an ailing school system. If anything, it has the merit of trying something new.

UPDATE: The Daily News also has a report on this story. TDN often offers greater depth in their reporting.