$330M Offered to Save Detroit Art

A dozen private charitable foundations pledged more than $330 million on Monday to save Detroit's art collection and help pensioners facing steep cuts thanks to bankruptcy proceedings.The Detroit Institute of Art's collection—including works by Rembrandt, Rodin, Cezanne, and Matisse—was recently appraised by Christie's ahead of a possible sale to creditors. Some of the foundation's money is intended to go to city retirees. Though the purse will barely make a dent in the $3.5 billion they're owed in pension claims.