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October 22, 2014

Detroit scrap wire may bring in $40M

DETROIT (AP) — The city of Detroit plans to sell 13 million pounds of copper wire from its public lighting operation.

Financial consultant Gaurav Malhotra testified Tuesday in Detroit's bankruptcy trial that the city is budgeting for $25 million over six years from such a sale, but the scrapped metal could bring in about $40 million.


 
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