Detroit, Michigan

Economy

Detroit and its suburbs constitute a manufacturing powerhouse, most notably as home to the American automobile industry and the Big Three auto companies. General Motors is based in Detroit, Ford Motor Company in nearby Dearborn, and one of the two world headquarters for DaimlerChrysler in Auburn Hills (the other is in Stuttgart, Germany). Dotting the Detroit landscape are countless offices and plants in the automotive support business: parts, supplies, electronics, and design. It is not uncommon in Detroit to hear radio ads or to spy billboards in which multimillion-dollar auto corporations make insider sales pitches to one another. But there's a flip side to the automotive dominance: because of its almost singular dependence on the auto industry, Detroit is more acutely vulnerable to economic cycles than most large cities. According to one saying, "When the auto industry hiccups, Detroit coughs, and when the auto industry catches a cold, Detroit gets pneumonia."

Related Topics:
Automobile - Big Three - General Motors - Ford Motor Company - Dearborn - DaimlerChrysler - Auburn Hills - Stuttgart - Germany

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Including the Big Three, there are seventeen Fortune 500 companies headquartered in metro Detroit, including Kmart Corporation, Borders Books and Music, Comerica Inc., Federal-Mogul, Kelly Services, and Lear Corporation. Metro Detroit is also home to the national pizza chains Domino's and Little Caesars. Other major industries include advertising, computer software and casino gambling.

Related Topics:
Fortune 500 - Kmart Corporation - Borders Books and Music - Comerica Inc. - Federal-Mogul - Pizza - Domino's - Little Caesars - Casino gambling

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