SAN ANTONIO -- Despite recent business losses such as AT&T moving its headquarters to Dallas and Toyota temporarily stopping Tundra truck promotion, Mayor Phil Hardberger said the city's future is still bright.

The mayor spoke Wednesday to the Rotary Club of San Antonio and said while the AT&T and Toyota news were stunning blows the city, he said there was nothing the city could have done to prevent those events.

"A CEO that has the support of his board... can live anywhere he wants to," he said.

He said the city continually works to keep existing business in town and to attract new businesses to the area.

Raw Video: Mayor's State of the City