Penske donates millions to Detroit museum - 13abc.com Toledo (OH) News, Weather and Sports

Penske donates millions to Detroit museum

Posted: Updated:
   
DETROIT (AP) - The Detroit Institute of Arts says it is just 20 percent shy of its goal to raise $100 million to prevent the sale of art in Detroit's bankruptcy and help city pensioners.
   
The museum made the announcement Wednesday while disclosing nearly $27 million in new donations from a group of companies and foundations, including $10 million from Roger Penske and Penske Corp.
   
It says it has total pledges so far of about $80 million. The state of Michigan, the museum and foundations have together agreed to give $816 million to the so-called grand bargain.
   
It's all part of Detroit's bankruptcy restructuring plan. The money will be available only if retirees and city workers vote in favor of pension cuts. The results will be announced Monday.

  • RegionalMore>>

  • MI governor Snyder re-election gets tepid response

    MI governor Snyder re-election gets tepid response

    Wednesday, July 23 2014 5:12 PM EDT2014-07-23 21:12:56 GMT
    Michigan Gov. Rick Snyder has accomplished much of what he said he set out to do when he was elected four years ago but instead of cruising to re-election on the fulfillment of his 2010 promises, Snyder's bid for re-election has been met with ambivalence.
    Michigan Gov. Rick Snyder has accomplished much of what he said he set out to do when he was elected four years ago but instead of cruising to re-election on the fulfillment of his 2010 promises, Snyder's bid for re-election has been met with ambivalence.
  • Wood County athletes bring home 25 medals from State Games

    Wood County athletes bring home 25 medals from State Games

    Wednesday, July 23 2014 2:04 PM EDT2014-07-23 18:04:19 GMT
    Twenty-four Wood Co. athletes from Wood Lane went to Columbus to compete at the Ohio Special Olympics Summer Games. They brought home 25 medals.
    Twenty-four Wood Co. athletes from Wood Lane went to Columbus to compete at the Ohio Special Olympics Summer Games. They brought home 25 medals.
  • Dayton Air Force Base honor

    Dayton Air Force Base honor

    Wednesday, July 23 2014 1:19 PM EDT2014-07-23 17:19:42 GMT
    DAYTON, Ohio (AP) - A newspaper serving U.S. Air Force personnel has ranked Wright-Patterson Air Force Base near Dayton as one of the best places in the country to be stationed.
    DAYTON, Ohio (AP) - A newspaper serving U.S. Air Force personnel has ranked Wright-Patterson Air Force Base near Dayton as one of the best places in the country to be stationed.