GM and GM Foundation Lead Auto Sector Support of 'Grand Bargain' to help Secure DIA Future
DETROIT--June 9, 2014: General Motors and the General Motors Foundation, along with Chrysler Group LLC and Ford Motor Company, today announced a collective pledge of $26 million toward the “Grand Bargain” campaign to help both the Detroit Institute of Art (DIA) and the City of Detroit.
GM and the GM Foundation are contributing a total of $10 million – $5 million each – of the auto industry’s $26 million pledge, which is part of the DIA’s commitment to raise $100 million to help Detroit emerge from bankruptcy and protect the museum’s art collection for the public.
“Preserving the integrity of Detroit and one of its most beloved and historic pillars is of the utmost importance to GM and the GM Foundation,” said Mark Reuss, GM executive vice president, Global Product Development, Purchasing and Supply Chain and GM Foundation vice chairman. “We are longtime supporters of the DIA and pledge our help to keep it an integral part of our community.”
Eugene A. Gargaro Jr., DIA board chairman, thanked the automakers for their support:
“On behalf of our entire DIA board of directors, our Director Graham Beal and all other members of our DIA family, we are extremely pleased and appreciative of this remarkable financial commitment by the leadership of our corporate community,” he said.
The Grand Bargain was proposed by the mediators of city’s bankruptcy and led by Chief Judge Gerald Rosen of the U. S. District Court for the Eastern District of Michigan, and attorney Eugene Driker.