Believe it or not, there was once a time when Detroit was a hustling and bustling urban metropolis – a desirable city in which to live. Today? Sure, there are some hardcore Detroit supporters, and there are certainly nice areas in and around Detroit to call home, but the truth is that the United States population at large doesn't have Detroit high on its list of places to relocate.
Part of the reason Detroit doesn't make an attractive home is that the city's finances are hardly in order. In fact, as pointed out by The Detroit News, the city is negotiating with the State of Michigan to avoid a takeover of the city. Even though a consent agreement is possible, none of this helps Detroit-based corporations like General Motors lure workers into the city's borders.
Current GM CEO Dan Akerson said in an interview that he hopes his company can contribute to Detroit's revival, but "wouldn't pretend to know what the best solution is." Neither would we. Like Akerson, though, we hope the home of the Big Three gets back on its feet with as much solidity as the automakers seem to have managed.