“Keeping your audience abreast of a complex financial deal is hard work,” The Detroit News writes today, continuing,
Detroit Institute of Arts director Graham Beal puts his shoulder to this in his latest letter in the museum’s online newsletter. It meticulously reviews the terms of the proposed “grand bargain” in Detroit’s bankruptcy, and then rebuts some critics even as it airs some of the museum’s own complaints about its predicament.
The city’s Plan of Adjustment assumes not only that the DIA will raise and contribute $100 million toward Detroit’s pension funds but that the state will chip in $350 million over 20 years to go along with a $365 million commitment from a group of foundations.
See what DIA Director Graham Beal is telling members…and the world about the deal.