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.
Detroit
Posted inNews
Detroit Museum Continues Battle to Protect Its Art
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.
Posted inNews
Detroit Creditor Offers Bid for Museum Art
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.
Posted inNews
Pension Committee Subpoenas Detroit Museum for Documents
A committee representing Detroit’s 20,000 municipal retirees is demanding a more thorough review of the Detroit Institute of Arts (DIA) collection, arguing that Emergency Manager Kevyn Orr’s revised bankruptcy plan is less favorable than the original, MLive.com reported.
Posted inFilm
Invisible Cities: Matthew Barney’s Blindspot
Let’s look past the globules, barnacles, and goo. At its heart, Matthew Barney’s River of Fundament is a film about white, male America’s failure to comprehend urbanism.
Posted inArt
The Seafoam Palace: Opening a Museum for the Curious in Detroit
A group of artists and urban explorers are taking on the ambitious task of transforming a deteriorated building in Detroit into a museum of curiosity.
Posted inNews
Detroit Emergency Manager Continues Detroit Institute of Arts Shakedown
In a process that at this point is approaching farce, the Detroit Free Press is reporting that City of Detroit emergency manager Kevyn Orr demanded yesterday that the Detroit Institute of Arts (DIA) contribute to a city bankruptcy fund, despite the recent $680 million intervention on the DIA’s behalf by Michigan governor Rick Snyder and a consortium of nonprofit foundations.
Posted inArt
Why Detroit’s Bankruptcy Is Good News for Its Art Museum
DETROIT — “The greatness of America lies not in being more enlightened than any other nation, but rather in her ability to repair her faults,” wrote Alexis de Tocqueville. The US is great because it can roll up its sleeves and fix its problems. On December 3, US Bankruptcy Judge Steven Rhodes ruled that the City of Detroit was eligible for Chapter 9 bankruptcy protection.
Posted inNews
Detroit Creditors File in Court to Push for DIA Art Sale
In a legal filing today first reported in the Detroit Free Press, a consortium of Detroit creditors aggressively make their case for the sale of the Detroit Institute of Arts’ collection. The document, dated November 26, charges that emergency manager Kevyn Orr has been insufficiently transparent about the process by which Christie’s is evaluating the DIA’s collection.
Posted inArt
Powering Through Detroit’s Many –isms
CHICAGO — This morning at a café in a gentrified neighborhood of Chicago, I sat reading Facebook on my iPhone and came across yet another story relating to Detroit, the city frequently cited for its riches-to-poverty story.
Posted inArt
A Skate Park as Neighborhood Stabilization in Detroit
CHICAGO — An artist-run non-profit organization, Gina Reichert and Mitch Cope’s Power House Productions works to develop and implement neighborhood stabilization strategies in Detroit, a city where property is cheap and the stakes are high.
Posted inOpinion
Detroit Sports Profit as DIA Collection Considered for Collateral
As the Detroit Institue of Arts (DIA) continues its long slide to Emergency Manager Kevyn Orr’s butcher block, several issues have come to light regarding the fate of its artwork and the financial context of the Detroit bankruptcy.
