A Century Of Cars: Does Detroit Deserve A Bailout?

From 247wallst.com

Near the Detroit Metropolitan Airport, visible from several major highways, is a four-story tall replica of a Uniroyal tire. It was built for the 1964 World’s Fair in New York and was moved to its present site after that event closed.

Back then, Akron, Ohio was the “Rubber Capital” of the world with the headquarters of most of the major tire companies including Goodyear and Firestone just a little over 100 miles from Detroit. It was one of the twenty largest cities in the US and Detroit was in the top five. Tire executives could make it up to GM in two hours to grab a three-martini lunch and be home by dinner.

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Stocks Mentioned: GM (NYSE: GM), Ford (NYSE: F)

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