In these difficult economic times, it is great to see that Detroit will finally catch a break. Yesterday the Final Four began in Detroit; the finals will be [in Detroit] on Monday. As we all have learned in class, Detroit is a big city for the automobile industry and the home to Ford. In these economic times, people have been hesitant to buy new cars rather using their existing autos as long as possible. Such anecdotes have been discussed in newspapers such as the Chicago Tribune. Detroit has really been hit hard. Real estate is now dirt cheap there and the once thriving city is suffering exponentially from lack of revenue. Also unemployment rates have skyrocketed in Detroit.
This is why I have decided to dedicate this blog post to Detroit and the Final Four. Yesterday at the Final Four over 70,000 spectators traveled near and far to watch their favorite teams battle for a National Championship. This is great for Detroit. Hotels are filling up, as well as restaurants. People are shopping for apparel also, which is great. Another huge factor to this years Final Four is that Michigan State is still in the tournament. And although I dislike Michigan State [being a huge Michigan Fan] I am ecstatic that Detroit has a hometown team playing for glory. Michigan State, to the delight of Detroit business owners, has even made the finals. This means that more apparel will be bought and more fans will try to get last minute tickets because a hometown team will be playing for the NCAA championship. The NCAA tournament has provided a great amount of revenue for the city of Detroit, a city suffering immensely from this recession.
2 comments:
The great amount of revenue for the city of Detroit is something that is obviously positive since they are suffering immensely from this recession. The sad note is that this is only temporary and will not last for long. I am not sure if the sudden jolt of money being flooded to this neighborhood can possibly greatly impact Detroit’s economy for more than a week?
yeah, I totally agree with this here. We know that Michigan has had its good, and bad times in the auto industry. When we saw the michael moore documentary on friday it really came to my attention that sometimes the auto industry is a really good and steady place to work, and other times it is just plain unfair. But I think that not only the fact it is in detroit is good, but the fact that one of their state native teams is in the finals as Michigan state. Just gotta hope from a big game from Kalin Lucas, and Goran Suton (the beast from the east).
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