‘Unprecedented’ Effort Aims To Preserve DIA Art

January 13, 2014 – In The News
The Detroit News

Michael Sweet was quoted in The Detroit News article "‘Unprecedented’ Effort Aims To Preserve DIA Art." While the full text can be found in the January 13, 2014, issue of The Detroit News, a synopsis is noted below.

Mediators in the Detroit bankruptcy announced that more than $330 million has been pledged by national and local foundations to protect city-owned art at the Detroit Institute of the Arts from being auctioned off.

The city’s emergency manager, Kevyn Orr, could use the foundations’ financial support as leverage in negotiations with creditors to stem them from pushing for an art sale, said Michael Sweet.

“I think they’re saying there’s real money on the table here, everyone ought to step up,” Sweet said. “It’s going to fall to the pensions to see whether they will fall in line or want to fight. (But) as long as they’re taking a fighting posture, it may not matter.”