Automakers May Have A Role In Detroit Bankruptcy
Chrysler, Ford Motor and General Motors are interested in preserving art and shoring up pensions in Detroit's bankruptcy case.
The Detroit Institute of Arts has pledged to add $100 million to a larger pool of money to prevent the sale of art and help retirees. The auto companies say they're talking to the museum about possibly joining that commitment.
In a statement Tuesday, GM says the museum "must be central to any plans for a revitalized Detroit." Chrysler says it's reviewing the DIA's request. Ford says it's looking at it "very carefully."
Foundations, the DIA and the state of Michigan are expected to put up $816 million to keep art off the market and soften pension cuts. Lawmakers would still need to approve the state's share.