January 8, 2012

Detroit seeks salvation during Big 3's victory dance

Reuters
"Detroit, we are with you," Perkins said, leading a group of automotive business leaders in a lunchtime swig of Brut champagne at the city's Cobo Center.

But not everyone is in the mood to celebrate.

While car companies thrive, Detroit continues to bleed. Saddled with a crippling debt load, mounting labor costs and onerous union contracts, the city that paved the auto industry's success is in need of a bailout of its own."

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