Estimated read time: Less than a minute
This archived news story is available only for your personal, non-commercial use. Information in the story may be outdated or superseded by additional information. Reading or replaying the story in its archived form does not constitute a republication of the story.
DETROIT (AP) — Toyota has pledged $1 million toward the Detroit Institute of Arts' goal to raise $100 million to prevent the sale of art in Detroit's bankruptcy and help city pensioners.
The announcement was made Wednesday by the museum and Toyota Motor North America.
Simon Nagata, president of Toyota Motor Engineering and Manufacturing, said in a statement that the Detroit area is "vitally important to the automotive community" and deserves the support from the automaker.
The museum has pledges so far of most of the $100 million. The museum, the state of Michigan and the foundations together have agreed to give $816 million to the so-called grand bargain.
A trial to determine if Detroit gets out of bankruptcy is scheduled for Aug. 21.
___
Online:
Copyright © The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
