Opinion: Is Detroit’s Close Call a Wake-Up Call for Museums? – Philanthropy Today - Blogs - The Chronicle of Philanthropy: "n the wake of the Detroit of Institute of Arts’ escape from being forced to sell works to help pay the city’s creditors, a Wall Street Journal culture writer looks at the risks faced by other art museums whose collections are fully or partly owned by government bodies.
After more than a year of legal wrangling and hundreds of millions of dollars in pledges from foundations, a judge earlier this month approved a plan for Detroit’s bankruptcy reorganization that safeguards the museum’s holdings. The Journal’s Lee Rosenbaum says that “excruciating experience … should be a wake-up call” to other museums with potentially vulnerable collections."
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