Little Known Asset Causing More Bankruptcy Anxiety - Classic Car Collection at Stake
I'm sure many Detroiters were ill thinking about the sale of the DIA's art collection. I just couldn't listen to the news reports or read about it. I have been aware for years that the DIA's collection is highly envied by museums out west and to the south, new museums that will never be able to house great art in the numbers that we have [[the number of acknowledged masterpieces is rather finite and pretty much spoken for). This is the envy that the Los Angeles writer spoke out of when she said that Detroit should be forced to sell off the DIA's collection "so more people, in more prosperous cities could view them."
Today the NYT reports on another collection of Detroit's treasures that may be on the block:
http://www.nytimes.com/2013/06/20/bu...ection.html?hp
I was not aware of this one:
DETROIT — As this debt-ridden city lurches toward a
possible bankruptcy filing, residents and workers have been locked in a grim
faceoff with creditors over how to preserve what remains of their services and
benefits.
Contributing to the municipal anxiety is the
possibility that some of the city’s cultural treasures could be sold off,
including masterpieces in the Detroit Institute of Arts and the Belle
Isle park in the Detroit River.
But there is another Detroit family jewel in question
that is largely unknown outside the automobile world and to some people even
more treasured — a collection of 62 lovingly maintained classic cars donated to
the city since the 1950s by civic-minded families seeking to preserve the Motor
in Motor City.
Most of the cars are stored under protective plastic
bubbles in a World War II-era riverfront warehouse on the grounds of Fort Wayne,
while others are on display at the Detroit Historical Museum or on loan to
exhibits around the country.
Just as art patrons are resisting selling van Goghs
and Matisses to satisfy Detroit’s debt, car lovers are pushing back at the
possibility of losing what they regard as the city’s historic industrial heart
and soul — including a Cadillac Osceola that dates to 1905, and a vintage Ford
Mustang worth an estimated $2 million.
You're Very Wrong AND Stubborn Headed
Quote:
Originally Posted by
jt1
I guess where we disagree is about the money being there. I don't believe [[nor does Kevyn Orr) that it is there. We probably won't agree since we see things very differently on this exceptionally key point.
jt1....you are meanheaded, stubbornheaded, unbending, and most importantly....WRONG !!! Pensioners are supposed to take a hit WHENEVER the newer generation decides their pockets being filled with stolen City money, THEIR futures more important, so they graft everything in their power, do it with attitude, act indignant when they're found out, and expect to come out on top anyway. THAT'S why the pensioners should "DO THEIR PART???" I don't think so...in fact HELL NO !!! I don't work for the City Of Detroit, but I live here... I see the corruption...I've seen the smiling idiots flashing their fancy cloths and cars and destroying any good will the Citizens have for each other, by creating racial tensions, widening the divides between the City and the Suburbs.....all to mask their illegal activities, and then demand the City pay for their legal council when they are found out....and the law suits against the City, for injuries sustained on the unkempt streets, the muggings, rapes and murders, because of a corrupt and mostly underfunded Police Force. The slow response time for other emergency services...ALL this is supposed to be heaped on the backs of the pensioners?!!!! Are you crazy? Put into a 401 ???? Guess how many people I KNOW who have gotten screwed out of their "Protected" 401 accounts ? I could go on ALL DAY and jump from point to point...bottom line, Kevin Orr is shuffling and re-shuffling monies around, and he could re-shuffle his ass away from the pension fund.