Friday, November 07, 2014

"All eyes on Detroit for bankruptcy ruling" (UPDATED 2X)

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."