How Much Of A Role Should The Automakers Play In Detroit's Recovery?

Many of the factories that used to dot the city and employ thousands moved to suburbs, other U.S. states or to China and Brazil as the auto industry became global and manufacturing focused on getting faster and less expensive, said Cole, chairman emeritus of the Center for Automotive Research in Ann Arbor, Mich., and son of a General Motors president.

"The auto industry was forced to change, driven by industry pressure, and it evolved," Cole said. "Detroit did not. It's sad to see. We just took it all for granted."

MorePower - 7/19/2013 4:20:36 PM

+1 Boost

Detroit needs to develop business outside of the automotive industry while still providing incentives for business that will put people to back work with livable wages.

Agent009 - 7/19/2013 5:54:09 PM

+1 Boost

Texas learned that with oil. Now it is so multifaceted that if a sector or two falter the rest keep it going.

thomas - 7/20/2013 8:31:23 AM

+1 Boost

Detroit is too far gone. No reason for anyone or any company to go there. The burbs are safer, cleaner and much more attractive to investment.

Yes you can buy real estate dirt cheap in troit, but with a 47% property tax default rate those paying are going to get slammed to make up the shortfall. Sad to see but case in point to diversify and not be a one gun town.

MarryB - 7/22/2013 7:47:09 AM

+1 Boost

This is what our society used to endure! We have no choice but suffer from all changes our lawmakers do. We used to be worried about <a href="http://northenloans.ca/blog/get-to-the-end-of-the-month/">how to dispose of money to the end of the month</a> and forgot about normal way of living - without debt and borrowings. It looks like some kind of nature law: when someone loses, other earn. We have nothing to do with this.