DETROIT — It’s a quiet Sunday in Brightmoor, a northwest Detroit neighborhood that’s about as good an example as any of the city’s fall from grace — and its unofficial rebirth via urban agriculture, grassroots activism, and community-based intervention.
DETROIT — The Detroit Institute of Arts’s major exhibition Diego Rivera and Frida Kahlo in Detroit closes on Sunday. This show was in the works for a decade, long before the city’s bankruptcy and the grand bargain, which shifted the ownership of the art from the city to the museum.
DETROIT — Art may be open to interpretation, but when the work in question is a reflection of an artist’s life, historians and museums tend to present their interpretations as fact.
The period between April 1932 and March 1933, when artists Diego Rivera and Frida Kahlo sojourned in Detroit, was a desperate time for the city.
Judge Steven Rhodes approved Detroit’s bankruptcy plan today, allowing the city to move out of insolvency in the coming weeks and slowly towards financial independence. Rhodes called the plan “fair and feasible,” the Detroit Free Press reports, “providing the legal authority for the city to slash more than $7 billion in unsecured liabilities and reinvest $1.4 billion over 10 years in public services and blight removal.”
A recent appraisal commissioned by Art Capital Group claims that the Detroit Institute of Arts collection is worth significantly more than previously found by both Christie’s and Artvest Partners, the two firms that had previously evaluated the collection in connection with the city of Detroit’s bankruptcy proceedings.
Detroit’s civilian and police-and-fire retirees overwhelmingly voted to approve cuts to their benefits in connection with the city’s bankruptcy “grand bargain,” the Detroit Free Press reported.
A new valuation of the 66,000-item collection at the Detroit Institute of Arts (DIA) has found it to be worth between $2.8 and $4.6 billion, the Detroit Free Press reported.
The Detroit Institute of Arts announced today that the city’s automakers will contribute $26 million to the museum’s $100 million share of a “grand bargain” fund destined to support municipal pensions.
The Detroit Institute of Arts (DIA) has turned to a judge to help keep its art on its walls and out of the hands of the city’s bankruptcy creditors. Last night, the museum filed an objection to a proposal spearheaded by Financial Guaranty Insurance Co. (FGIC) and Syncora to reevaluate the art in the museum’s collection, the Detroit Free Press reported.
In the latest issue of Cluster Mag, a “magazine of international popular culture,” writer Jesse Myerson places the asset-stripping drama surrounding Detroit’s bankruptcy against a broader historical context, one that dates to the 13th-century failure of Constantinople.
After a pension committee last week demanded a more thorough review of the value of the Detroit Institute of Arts (DIA) collection, one of the city’s largest creditors has now lined up four investor groups willing to pay up to $2 billion for part of that collection.