Detroit is one of America’s most troubled cities, and its problems sometimes seem intractable. But a new effort to envision a future for Motor City could offer hope to other declining urban centers.
Detroit epitomizes shrinking Rust Belt cities. The once-vibrant hub of the U.S. auto industry has already lost more than 60 percent of its population and about 40 percent of its housing stock, leaving roughly 20 square miles vacant – almost as much as all of Manhattan.
Matthew DeBord/Business InsiderGlobal auto executives at the Detroit auto show are highlighting their investments in the United States, mindful of President-elect Donald Trump's attacks on automakers for building vehicles in Mexico.
North American auto OEMs and their tier 2 suppliers have been in a race to move auto production across borders to low-cost countries (LCCs) for the past couple of decades as soaring wages, pension and OPEB obligations made production in the U.S. all but impossible. Supporters of minimum wage hikes could learn from the efforts of the United Auto Workers Union which did a masterful job negotiating off-market wage and benefits packages which ultimately only served to provide their members with permanent job losses.
When you're planning a trip, one of the most important things to remember is factoring in the transportation cost. And that's especially true for space travel. Traveling to Mars is going to be expensive, so NASA is betting on the future development of a more efficient and less costly type of propulsion to get there.
GUELPH, Ont. — One of Canada’s largest autoparts companies is making a play for French counterpart Montupet SA in a friendly takeover offer valued at $1.16 billion.
Linamar Corp. of Guelph, Ont. says the acquisition would be a significant step in its strategy of becoming a global leader in making aluminum components for the automotive sector.
Montupet designs and manufactures complex aluminum castings, with a presence in several European countries, North America and Asia.
TORONTO — A strong Canadian dollar has wounded the country’s auto manufacturing sector over the last decade, but the currency’s recent drop to a near six-year low is unlikely to spur a rush of new investment, say senior industry executives.
Canada has struggled in recent years to win new investment from automakers, losing out to both the United States and lower-cost Mexico. While some major automakers have announced new investments in Canada in recent months, they are expected to preserve jobs rather than significantly increase employment.