This weekend, visitors to the Detroit Institute of Arts buzzed with excitement over a new exhibit — it was a big moment for the once-troubled museum. The DIA spent much of the last two years under threat as its owner, the city of Detroit, looked for ways to emerge from bankruptcy.
Finally, in November, a "grand bargain" was struck. Foundations, private donors and the state of Michigan together raised more than $800 million to help rescue public employee pensions. In return, ownership of the DIA was transferred to a trust — thereby securing its future.