Home / Business Tools: Save | Print | E-mail | Most Read | Comment
Detroit awaits bailout amid US auto-industry crisis
Adjust font size:

It's a chilly Monday morning in Detroit, capital of US auto industry. Ricky Martin, a 7-year-old boy, is playing basketball with his brother in front of an abandoned house in downtown Detroit.

The 2009 NCAA Final Four Logo is seen on the back of the General Motors Corp World Headquarters in downtown Detroit, Michigan April 2, 2009. For Detroit, creaking under rising unemployment, the Final Four represents a stimulus package that the city estimates will attract 100,000 visitors. [Xinhua/Reuters]

Like the little Martin, as many as 7,500 kids, may not have a chance to go to school next month as the local government is planning to shut down more than 20 public schools.

Detroit Public Schools' emergency financial office announced last week that 600 teachers will be laid off in an attempt to reduce a projected 303-million-US-dollar deficit. A final decision on the closings of 23 schools would be released by May 8.

"It's ridiculous, no body cares about our kids, they are the future of Detroit, the future of America," Sarah Bell, a retired public school teacher told Xinhua.

"I don't know what's going on with the government, they rescued AIG, but leave the working people in the big D (Detroit) struggling for their lives and kids. That's too bad," she complained. "I grew up here and have served for 40 years in the city. This is the worst time I have even seen in my life."

"It's really hard to get a job here, half of graduate students leave the city. If you are lucky enough to get a job, you'd better not expecting any pension or welfare," the African-American lady added.

Detroit, a city founded in 1701 and became the world's automotive capital in last century, is experiencing the toughest time in its history as the US auto-industry is reaching a life-and-death juncture amid the most severe financial crisis since 1929.

"The city has been in trouble in the past 50 years," said Sridhar Lakshmanan, a professor at University of Michigan, who witnessed the city's ups and downs.

"You can see abandoned houses everywhere in the urban area, people would no longer to live here. They could not afford the mortgage payment after the housing prices have been cut to half in the last three year, and they are losing their jobs, so they just leave. This town has become a ghost town."

The population of the auto-town has fallen from a peak of roughly 1.8 million in 1950 to about half that number today. While the unemployment rate rose to more than 16 percent in 2008, the highest since 1980s, abandoned structures created havens for drug dealers and criminals.

The city has been under deep water as the largest US auto-maker, General Motors Corp. may go into bankruptcy if it fails to make a quick and deep restructure.

"I hope that the big three will never go under, otherwise it could be a disaster for the city and people living here," said H Derrick Alexander, whose father had been working for GM since 1970s.

"My father is retired, my mother is in poor health condition, if the company files for bankruptcy, oh my God, the pension, healthcare, we don't know what can we rely on," said the young African-American.

About 7,500 GM workers have signed up to take buyout and early retirement incentives to leave the company last month. The latest round of buyouts and early retirements at GM was the third for the company since 2006. From all three offers, more than 60,000 workers have decided to leave the company.

"We could not just let the auto-industry fail. It has been the heartbeat of America, it is the heartbeat of Detroit. Now it seems that it's losing the heartbeat," he added. "We need to be helping out."

(Xinhua News Agency April 15, 2009)

Tools: Save | Print | E-mail | Most Read Bookmark and Share
Comment
Pet Name
Anonymous
China Archives
Related >>

Apr. 11-12, Beijing The Fifth (2008) 'Gold Prize of Round table'of Chinese Boards of Listed Company
Apr. 17-19, Hainan The Boao Forum for Asia Annual Conference 20
Apr. 20-23, Beijing Green Transformation: Forcast New Business Culture
Apr. 27-28, Beijing China Institute Executive Summit

- Output of Major Industrial Products
- Investment by Various Sectors
- Foreign Direct Investment by Country or Region
- National Price Index
- Value of Major Commodity Import
- Money Supply
- Exchange Rate and Foreign Exchange Reserve
- What does the China-Pakistan Free Trade Agreement cover?
- How to Set up a Foreign Capital Enterprise in China?
- How Does the VAT Works in China?
- How Much RMB or Foreign Currency Can Be Physically Carried Out of or Into China?
- What Is the Electrical Fitting in China?
主站蜘蛛池模板: 精品国产a∨无码一区二区三区| 2o18国产大陆天天弄| 日本xxx片免费高清在线| 亚洲乱码一区av春药高潮 | 国产亚洲色婷婷久久99精品| 欧美日韩一区二区不卡三区| 国产精品美女一区二区视频| a级毛片免费观看在线播放| 性生活一级毛片| 中韩日产字幕2021| 日本电影中文字幕| 九九综合VA免费看| 欧美videos娇小| 亚洲国产精品自产在线播放| 波多野结衣办公室在线观看| 免费女人18毛片a级毛片视频| 美女奶口隐私免费视频网站| 国产专区中文字幕| 韩国理论电影午夜三级717| 国产成人精品A视频一区| 欧美性巨大欧美| 国产精品一区二区三| 2021国产麻豆剧传媒仙踪林| 国内精品一区二区三区app| a级成人高清毛片| 天海翼黄色三级| www.青青草| 成人免费视频试看120秒| 久久久久亚洲AV成人无码网站 | 啊灬啊灬啊灬喷出来了| 色在线免费视频| 国产一区二区三精品久久久无广告 | 两个人看的www免费| 成全高清视频免费观看| 中文字幕在线免费观看| 无码人妻熟妇AV又粗又大| 久久中文字幕网站篠田优| 日本xxxx色视频在线播放| 久久久久亚洲av成人无码| 日本乱人伦aⅴ精品| 久久久噜噜噜www成人网|