Detroit Automakers Pledge $26 Million to Help Save City’s Art

By Steven Yaccino The Detroit Institute of Arts announced Monday that the nation’s three major automakers would donate a combined $26 million to help save the city’s art collection, bringing the city a step closer to completing a deal aimed at coming out of bankruptcy by fall. The Ford Motor Company and General Motors each committed to giving $10 million to help the institute raise $100 million as part of a so-called grand bargain that would also ease pension cuts for city retirees. Chrysler, the smallest of the three American automakers, will contribute $6 million. “The D.I.A. and the city of Detroit need our help,” Joseph R. Hinrichs, executive vice president of Ford Motor Company, said at news conference at the museum. “And we are here, as we’ve always been, to do our part.” “Corporations ought to not only make these sorts of donations, but they should create and distribute free text books and other educational materials. A math or science textbook created by an automaker would probably blow away anything Prentice Hall could ever produce.” Read the full article here: http://www.nytimes.com/2014/06/10/us/detroit-automakers-pledge-26-million-to-help-save-citys-art.html

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