As most of us are aware, Michigan was severely hit by the Global Financial Crisis and that particular state of the US certainly was one of the hardest hit in the nation due to their strong reliance on the car industry.
We heard about the issues facing the automotive industry, which in turn led to an employment crisis in the area.  Since the year 2000, employment declined by nearly half a million jobs or 10.5% with a 36.9% loss of manufacturing jobs, and a 50% loss of employment in vehicle manufacturing.
These stats, combined with personal credit debt, rising foreclosures by the banks and dropping consumer confidence impacted the broader community and things were incredibly grim.
Policy responses of temporary cash infusions, increased rebates and interest rate cuts have either helped relieve financial markets over time; or worsen and deepen the crisis, depending on your particular point of view.
However, on my recent visit in March 2013, I found although it was happening slowly, there was a cautious feeling of optimism emerging.
Some plants had reopened, or put to different uses, and staff had been rehired.  Things appear on the surface at least, to be on the mend.
Here’s our Video Blog on YouTube: Financial update from Michigan, USA