Wednesday, July 23rd16.2°C
21452
21508

Detroit Institute of Arts hosting, governor speaking at 'major announcement' about bankruptcy

DETROIT - Michigan Gov. Rick Snyder is among officials expected to gather at The Detroit Institute of Arts to make what's been called a "major announcement" about a plan to help the city emerge from bankruptcy.

Snyder will speak Monday about the so-called grand bargain, which would preserve retiree pension benefits while protecting city-owned artwork at the DIA.

The museum wouldn't provide details, but an official recently told the Detroit Free Press that more information about donors would be announced soon.

About 2,800 city-owned artworks have been valued at between $454 million and $867 million. Some creditors want art sold to help settle debts.

The plan combines state funds with commitments from foundations and the art museum to shore up retirement systems and transfers the DIA's assets to a private non-profit.

The Canadian Press


Read more Business News

22439


Recent Trending




Today's Market
S&P TSX15315.13+65.14
S&P CDNX1010.884.40
DJIA17113.5461.81
Nasdaq4456.016+31.312
S&P 5001983.53+9.90
CDN Dollar0.9327+0.0015
Gold1313.40+4.2001
Oil104.30-0.29
Lumber332.50+6.20
Natural Gas3.781+0.009

 
Okanagan Companies
Pacific Safety0.200.00
Knighthawk0.01-0.005
QHR Technologies Inc1.19+0.04
Cantex0.06+0.005
Anavex Life Sciences0.33-0.018
Metalex Ventures0.07+0.005
Russel Metals35.60+0.61
Copper Mountain Mining2.83+0.14
Colorado Resources0.215+0.015
ReliaBrand Inc0.10+0.019
Sunrise Resources Ltd0.025-0.005
Mission Ready Services0.19+0.01

 



21723

FEATURED Property
2021795Mobile Home for sale
$73,900
more details
image2image2image2
Click here to feature your property
Please wait... loading


Labour shortage in BC

The mainstream media are finally waking up to something unusual in British Columbia – a labour shortage. If the experience of Alberta is a guide to our own future, the highly skilled labour will...


Learn to delegate effectively

Photo: ContributedI have the pleasure of witnessing people delegate tasks quite often. Sometimes with tremendous success and sometimes with disastrous consequences. I have chaired a lot of committees...


Euro debt woes re-emerge

Big Picture Euro debt woes re-emerge Europe’s debt woes jumped back into the headlines this week trumping other economic, geopolitical and corporate developments. Word that one of Portugal&rsquo...

_








Member of BC Press Council


22097