Detroit

The North American International Auto Show usually gives this downtrodden city an annual chance to celebrate with glitzy parties and celebrity sightings. But with two of the three U.S. auto makers on financial life-support from Washington, 2009's show is shaping up to be a scaled-back affair.

The show, which opens to the media Jan. 11, comes amid further signs of gloom in what already ranks among America's most depressed cities. Cultural institutions are cutting back. Charities are facing bleak times as big backers including Detroit's car manufacturers become pinched for cash. Detroit's struggling local newspapers plan to stop home-delivery soon on most days of the week.

But perhaps the most visible sign of drearier times will come in January at the car show. Carpenters and caterers are feeling the brunt as manufacturers scale back exhibits and parties. The show's economic impact on Detroit will be about $350 million -- some $100 million less than 2008's show, predicted David Sowerby, portfolio manager and market analyst for Loomis, Sayles & Co., an investment-management firm.