Sunday, May 24th20.5°C
26383

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

25528


Recent Trending




Today's Market
S&P TSX15200.76-2.85
S&P CDNX703.48+2.97
DJIA18232.02-53.72
Nasdaq5089.36-1.43
S&P 5002126.06-4.76
CDN Dollar0.8142-0.0053
Gold1204.30+1.30
Oil57.45-1.98
Lumber273.80+3.70
Natural Gas2.887-0.064

 
Okanagan Companies
Pacific Safety0.13-0.01
Knighthawk0.010.00
QHR Technologies Inc1.48+0.03
Cantex0.03-0.01
Anavex Life Sciences0.425+0.053
Metalex Ventures0.09+0.01
Russel Metals25.79-0.03
Copper Mountain Mining1.38-0.03
Colorado Resources0.105+0.005
ReliaBrand Inc0.0048-0.0049
Sunrise Resources Ltd0.04+0.01
Mission Ready Services0.175-0.010
Decisive Dividend Corporation2.20+0.60

 



26404

FEATURED Property
2299224208 Merlin Court
5 bedrooms 3 baths
$529,800
more details
image2image2image2
Click here to feature your property
Please wait... loading


Do or do not

Photo: Thinkstock.com“The optimist sees the rose and not its thorns; the pessimist stares at the thorns, oblivious of the rose.” - Kahlil Gibran Good planning is all about managing chan...


Penetrate the smokescreen

Photo: ContributedHas this ever happened to you? You’re in the middle of your second or third “good discussion” with a prospect. Everything’s going great. The prospect seems en...


Squaring the circle

Photo: Thinkstock.comI have been reading about market segmentation and choice. Howard Moskowitz’s research into tomato sauce as retold by Malcom Gladwell on the TED talks (http://www.ted.com/tal...

_








Member of BC Press Council


25690