1 p.m. today. Approval "widely expected."
UPDATE: Approved.
UPDATE 2: Tons of coverage of the news, including: Mark Stryker: DIA supporters elated by bankruptcy decision. Wall Street Journal: Art Was Key to the Deal. Randy Kennedy: "Grand Bargain" Saves the Detroit Institute of Arts. (And more from the Times.) Jillian Steinhauer at Hyperallergic. The museum applauds. Slate's Jordan Weissmann: "So Detroit gets to keep its art collection. Pensioners get to keep a little more of their income. And the museum never has to worry about municipal finances ever again. A nice bargain all around." Nathan Bomey: "With one sentence -- 'The market value of the art, therefore, is irrelevant in this case' -- Rhodes squashed 16 months of debate." Kriston Capps: "One way to think about Detroit's art collection: Love for it inspired foundations to help rescue pensions."
