How American Workers Rebuilt the Auto Industry

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Dec. 13 (Bloomberg) -- P3GM co-founder Sergio Fernandez de Cordova and Bloomberg's Keith Naughton discuss the revival of the U.S. auto industry with Pimm Fox on Bloomberg Television's "Taking Stock." (Source: Bloomberg)

P-3 g.m. he's currently working on a light project for the city of detroit.

Kight, if you could just describe the beginnings of this story and how you personally saw this change take place.

It's pretty fascinating and aren't those workers just amazing?

They have so much dignity.

I love watching them talk and it was great to interact with them.

It was a company and factory that had been laid low.

It was unclear whether it would have any future whatsoever.

People had lost their jobs and today it's one of the most profittable auto cities in -- zriss in the world.

The turn-round is remarkable.

The turn around in this city, sergio, that's still under discussion.

It's in bankruptcy.

It has been able to continue to survive but not under the normal circumstances.

For example, 40% of the city's streetlights don't work.


So where does something like p-3 g.m. come into this we look at something as simple as turning the lights on.

Bringing in smart bulbs, using l.e.d. as well as now adding technology that allows it the -- us to create an interconnected network.

Then you can start to use that for the future internet of things as well as wi-fi and cellular offload.

Where does the money come from to do this?

We create a private -- private-public partnership.

We create a 20, 30-year deal structure and by virtue of creating a network, we are creating a new platform so that we can create revenues from media and/or wireless and/or wi-fi.

Keith, you heard about private and public partnerships.

Is that is template for the future of detroit?

It certainly could be one way out and the city needs some help.

It need lighting.

It's hard for those who don't live here to understand what a huge problem that has.

There are entire swapts of the city that are just dark and in a city that is already pretty crime infested, when you turn the lights off it only gets worse.

Can you tell us about the role the auto industry makes in detroit and surrounding areas?

This factory, this plant, north jefferson, it's in the city of detroit.


It's the last auto factory entirely in the city of detroit.

All the others have movemented out into the suburbs or moved to other states where it was in some cases cheaper and in other cases a bigger tract of land.

Motown doesn't have system mo in it but the industry is still a huge scours -- source of employment for the region, for the city, obviously a huge sense of pride.

As goes that industry so goes detroit.

Which is why there's a huge dichotomy between the fortunes of the industry which have come back and the fortune of the city, which have plummetted.

What do you propose?

To use a certain section of

This text has been automatically generated. It may not be 100% accurate.


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