On Monday, Detroit's three automakers, Chrysler, General Motors, and Ford, donated a total of $26 million to help save the Detroit Institute of Arts. The $26 million is part of the Detroit Institute of Art's commitment to raise $100 million as part of the "grand bargain," an effort by the city, state, and other groups to raise $800 million to help the city emerge from bankruptcy later this year. If the groups are unsuccessful in raising the money, the Detroit Institute of Art could be forced to sell its collection, which includes art works from Vincent van Gogh, Pablo Picasso, and Pieter Bruegel.

Speaking at a press conference, Mark Reuss, President of General Motors, remarked on the importance of the arts to the economy and community: "The mark of a great city is, of course, its cultural institutions. That's what helps us draw people here to live, to work, and to contribute to the economy and the community."

With the money donated from the three automakers, the Detroit Institute of Arts has now reached 70% of its goal.