Detroit used to be the one of the richest in America during the 60s. It housed the three largest American automakers namely Ford, General Motors, and Chrysler. The glory days have shifted away from the city since the three giants lost their dominance in the 70s. Now, five decades after its prime, on July 18, 2013, the Motor City files for bankruptcy.
Rest assured though that the 2014 North American International Auto Show will still push through next year. NAIAS Executive Director Rod Alberts was assuring in his message that the Detroit bankruptcy will have no impact on the said show. He also stated that the filing will give the city a refreshed opportunity as it is freed from its liabilities.
NAIAS and Cobo Center are both independent of the financial assistance from Detroit. The operation of the organization will not be impacted even if it works with all the city municipalities in the region. The center will also be unaffected because a regional authority manages it. In fact, the final stage of the $300 million renovation of Cobo Center will be completed by next year.
SOURCE: Michigan Chronicle, Reuters