'Big 3' pledge $26 million to help Detroit emerge from bankruptcy, protect art

DETROIT (WXYZ) - The Detroit Institute of Arts announced Monday that Chrysler, Ford and General Motors have pledged $26 million to help the City of Detroit emerge from bankruptcy, support pensioners and protect treasured artwork.

The donation goes toward the DIA's effort to raise $100 million as part of a "grand bargain."

"On behalf of our entire DIA board of directors, our Director Graham Beal and all other members of our DIA family, we are extremely pleased and appreciative of this remarkable financial commitment by the leadership of our corporate community to support the Grand Bargain,” said Eugene A. Gargaro Jr., DIA board chairman. “This exemplary leadership, along with that of other donors yet to participate in this critically important initiative, will provide the additional momentum and excitement necessary for the DIA to satisfy its $100 million grand bargain pledge."

Ford Motor Company is donating $10 million. General Motors and the General Motors Foundation will contribute another $10 million and Chrysler will donate $6 million.

“While it is our duty to focus on the revival of this city, it is equally crucial to cherish the treasures the city already offers – not just for ourselves, but for the generations that will follow,” said Sergio Marchionne, chairman and CEO, Chrysler Group LLC. “The Detroit Institute of Arts is a cultural treasure that enriches the human spirit, while offering us a chance to contemplate what humanity has achieved and what we aspire to create in the future.”

“Ford has long been committed to the DIA and the vital role it plays in making our city and region unique,” said Joe Hinrichs, executive vice president and president, The Americas, Ford Motor Company. “As Detroit rebuilds for the future, we are proud to continue our support of the DIA and its part in the city’s recovery efforts.”

“Preserving the integrity of Detroit and one of its most beloved and historic pillars is of the utmost importance to GM and the GM Foundation,” said Mark Reuss, General Motors Executive Vice President, Global Product Development, Purchasing and Supply Chain and GM Foundation Vice Chairman. “We are longtime supporters of the DIA and pledge our help to keep it an integral part of our community.”

“It is inspiring to see the notable organizations of Ford Motor Company, General Motors, Chrysler Group, and the Detroit Institute of Arts, rallying together to aid city pensioners and help Detroit on its path to revitalization,” said Governor Rick Snyder. “I want to applaud all the organizations for their generous contributions and I’m grateful that so many Michiganders and Michigan businesses are uniting together towards our shared goal of a strong and healthy Detroit.”

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