Schaap said cutting pensions and selling art to satisfy city debt would hurt an already injured city.
“None of us want to see individual people hurt and lose pensions,” he said, “and also then to provide for the long-term future of the DIA. I think if they have to sell one piece of art it will so demoralize people in this metro area that we can’t even imagine it.”
The art was left unprotected and now is fair game! The city is lucky the State took over Belle Isle because that would have ended up being taken by creditors and become gated home community
A noble gesture, but it's going to take a lot more than that to save the pensions.
Want to help DIA art and Detroit pensions? http://www.freep.com/apps/pbcs.dll/a...=2013312060126
I sort of look at this almost as blackmail... and really don't care for this. Plus this will really put a serious dent into the DIAs attempt to build up its' endowment... which was likely in trouble the moment that selling art was first discussed.
But if people want to donate... more power to them. However I somehow think that a lot of DIA patrons are more of a "wait and see" approach... or they are going to donate to a legal challenge of any potential art sale.
I am all in favor of folks pitching in to help the retirees... but otherwise, holding art hostage may set a bad precedent for other cities in trouble.
The DIA's endowment for operations stands at just $103 million, well below the roughly $350-million to $650-million endowments for operations [[not art) enjoyed by the Cleveland Museum of Art or the Art Institute of Chicago or the $1.55-billion endowment at the Metropolitan Museum of Art in New York. Apparently the tie of ownership to the city has made a proper business plan out of reach. If the valuable art is uncoupled to the bankruptcy this could be in the long term benefit to the DIA and the pensions. The important thing is that if the people that count in government, foundations, and the courts can see that there is a ground swell of support from many donors this can have a serious impact with a good outcome for all.
Thanks Noggin... I just read that the fabulous 557 piece Robert Hudson Tannahill collection [[Van Gogh, Cezanne, Picasso, Rodin, Renoir, Matisse, Gaugin, Seurat, Degas) donated in 1969, the largest single donor ever to the DIA, is protected from sale with the following caveat... "if any piece is ever sold, the entire collection would have to be given up to another museum".
Of all the private philanthropic foundations in the country the largest is the Ford Foundation, which owes its very existence to Detroit, the auto industry and the Ford family. Now an independent institution with few ties to its founders [[Henry Ford ll quit the board in frustration over its focus and direction), it pursues its own agenda around the world, leaving Detroit with little enough attention or assistance. The sum in question is a drop in the bucket for the foundation's $11,000,000,000 [[!) endowment. Prominent Michiganders could lead a public campaign for the foundation [[ever concerned about its image) to fund a nonprofit entity to hold the currently city-owned part of the collection, remitting to the city a realistic amount for its forfeiture of any claim to any part of the collection. This would ensure the museum's intact survival and would be an appropriate and worthy use for the Ford Foundation's assets, surely in keeping with the original motives of its founders.
Absolutely - NO. If the City is turned into a charity it will never recover. It needs to take its bumps and move on to better things under its own volition if it's going to regain its former greatness.Quote:
Originally Posted by noggin
Are you related to Danny?:)Quote:
Originally Posted by faygoa1history
This seems incorrect. Giving money to buy the art from the city isn't charity to the city government. It is only because of previous idiocy that the DIA wasn't fully legally separated from the city long ago.Quote:
Originally Posted by coracle
If it isn't charity then let the Art remain owned by the City free and clear and watch what happens to it, and let the city pay the deficit to the Pension Fund, and whatever other items that will be added to the mix next. We've already started with the drip, drip of Cobo, DIA, Belle Isle and Water Dept isn't far behind. Either Detroit has to do it on its own or somebody else has to pick up the tab; which in my book is charity.Quote:
Originally Posted by mwilbert