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Reviewing the Grand Bargain: Saving Artwork and Funding Pensions in Detroit’s Bankruptcy

Perhaps no single element helped propel Detroit’s bankruptcy proceedings more than the so-called “grand bargain.” The deal brought financial contributions to the city from the Detroit Institute of Arts, large foundations, private corporations, unions and the state of Michigan. But the Grand Bargain didn’t come without a cost beyond dollars and cents — it upset many people who felt the city’s art collection should have been subject to sale before pensions were on the line. Beyond that, Republican leaders in Lansing spent a great deal of political capital wrangling the votes needed to get the bailout money for Detroit approved through the Legislature.

One of those leaders was Randy Richardville — then the Senate Majority Leader and a Republican from Monroe. Richardville joins Detroit Today host Stephen Henderson for a look back at the bankruptcy proceedings from the state Capitol perspective.

 

Image credit: Jimmy Wayne (FLICKR/CC)

This post is a part of Detroit Bankruptcy: One Year Later Series .

For a month, the Detroit Journalism Cooperative journalists will explore the impact of the city’s bankruptcy case, including its impact on people and neighborhoods and its long-term implications.

Audiences are invited to a free, community event where they can hear directly from key figures in the case and ask questions. The 6 to 8 p.m. program on Wednesday, Dec. 9 will be at Wayne State University’s Community Arts Auditorium. Learn more.


Presented by WDET in partnership with the Detroit Journalism Cooperative.

Support for this project comes from the John S. and James L. Knight Foundation, Renaissance Journalism’s Michigan Reporting Initiative and the Ford Foundation.

 

  

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