St. George Unofficial Bank Holiday

Thursday, April 06, 2006

Detroit Sold For Scrap

DETROIT—Detroit, a former industrial metropolis in southeastern Michigan with a population of just under 1 million, was sold at auction Tuesday to bulk scrap dealers and smelting foundries across the United States.

"This is what's best for Detroit," Mayor Kwame M. Kilpatrick said. "We must act now, while we can still get a little something for it."

Once dismantled and processed, Detroit is expected to yield nearly 14 million tons of steel, 2.85 million tons of aluminum, and approximately 837,000 tons of copper.

The decision to demolish and cull Detroit for scrap was approved last month by a 6-3 City Council vote after a cost-benefit analysis revealed that, as a functioning urban area, it held a negative cash value.
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