Detroit just became the largest American city ever to file for bankruptcy
The city is staring down a $20 billion unfunded liability vortex.
Meanwhile, crime, unemployment and broken infrastructure remain endemic.
But we're banking on the city getting its act together — and it's not just because things can't get any worse.
We've put together 25 signs Detroit is on the mend.
Here's the summary:
- In several major economic indicators, Detroit's rate of improvement has matched or exceeded the national average.
- Former Mayor Kwame Kilpatrick aside, the city enjoys strong leadership.
- The auto industry is booming.
- Its sports teams remain hugely successful.
- It's also becoming an increasingly popular center, for a new wave of entrepreneurs.
Hear us out.
Let's start with the obvious: cars.
The auto industry is leading the entire nation in the recovery: manufacturers sold more than 14 million vehicles in the United States last year, up 13% from 2011, according to UPI's Al Swanson. Credit Suisse said vehicle purchases accounted for around 30% of domestic economic growth during the first six months of last year, Swanson reported.
Here are GM's recent and projected revenues — up every year since 2010...
And Ford's, on pace to break $140 billion next year.
See the rest of the story at Business Insider