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Detroit bankruptcy's effect on auto industry boom

from By Ryan Clark

Detroit, the birthplace of American automotive ingenuity, has filed for bankruptcy. The filing is the largest municipal bankruptcy case in U.S. history. The move toward restructuring may not come as a surprise to some, being the culmination of a half-year's worth of financial insecurity. What may come as a surprise, however, is the realization that this all happened while Detroit's big three auto companies did better business — and subsequently pulled out a better profit — than they have in a very long time. more


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