Faced with the possibility of becoming the largest municipal bankruptcy in U.S. history, the Motor City has taken heart in more promising news, such as April sales for the U.S. auto industry hitting their highest mark in six years.
Detroit firms are once again riding out the storm in the hopes they’ll see better days. Gross revenues among the city’s largest firms mostly held steady in 2012. And federal economic data from 2011 pointing to economic growth in Michigan following a resurgence in the U.S. auto industry has some local firm leaders expressing guarded optimism for a rebound.
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