This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Toyota Commits $1 Million To Help The City Of Detroit And Secure The Future Of The Detroit Institute Of Arts

DETROIT, Aug. 6, 2014 /PRNewswire/ -- The Detroit Institute of Arts (DIA) announced today that Toyota Motor North America pledged $1 million toward the DIA's commitment to raise $100 million as part of a "grand bargain" that will help the City of Detroit emerge from bankruptcy, support city pensioners and protect the museum's art collection for the public.

"Toyota has demonstrated its commitment to Detroit and Michigan by doing its part to secure the DIA's future while helping Detroit's retirees," said Eugene A. Gargaro Jr., DIA board chairman. "We are extremely grateful for Toyota's generous support and know that it will motivate other donors and help pave the way for a bright future, both for the City of Detroit and the DIA."

" Detroit and the surrounding areas are vitally important to the automotive community. They deserve our support," said Simon Nagata, president of Toyota Motor Engineering and Manufacturing, Inc.  "Together we can find solutions to help Detroit become the healthy and vibrant community that reflects the spirit of its people. This commitment is a way to demonstrate our gratitude to the people who have built this industry and support us every day."

The grand bargain will provide Detroit's pensioners more than $800 million from the DIA, local and national foundations and the State of Michigan over a 20-year period. The funds will be directed to a supporting organization of the Community Foundation for Southeast Michigan and then disbursed for city pension payments over the next 20 years. As part of the grand bargain, the City of Detroit will transfer ownership of the DIA's collection, building and related assets to the private nonprofit corporation that currently operates the museum, Detroit Institute of Arts, Inc.

About Detroit Institute of Arts (DIA)

The Detroit Institute of Arts (DIA), one of the premier art museums in the United States, is home to more than 60,000 works that comprise a multicultural survey of human creativity from ancient times through the 21st century. From the first Van Gogh painting to enter a U.S. museum ( Self-Portrait, 1887), to Diego Rivera's world-renowned Detroit Industry murals (1932–33), the DIA's collection is known for its quality, range and depth. The DIA's mission is to create opportunities for all visitors to find personal meaning in art.

Programs are made possible with support from residents of Wayne, Oakland and Macomb counties.

About Toyota

Toyota (NYSE:TM), the world's top automaker and creator of the Prius, is committed to building vehicles for the way people live through our Toyota, Lexus and Scion brands.  Over the past 50 years, we've built more than 25 million cars and trucks in North America, where we operate 14 manufacturing plants (10 in the U.S.) and directly employ more than 40,000 people (more than 32,000 in the U.S.).  Our 1,800 North American dealerships (1,500 in the U.S.) sold more than 2.5 million cars and trucks (more than 2.2 million in the U.S.) in 2013 – and about 80 percent of all Toyota vehicles sold over the past 20 years are still on the road today.   For more information about Toyota, visit www.toyotanewsroom.com

SOURCE Toyota; Detroit Institute of Arts

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

DOW 18,040.37 +29.69 0.16%
S&P 500 2,111.73 +4.34 0.21%
NASDAQ 5,082.9290 +12.9030 0.25%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs