SOURCE: General MotorsDESCRIPTION:
DETROIT – General Motors and the General Motors Foundation, along with Chrysler Group LLC and Ford Motor Company, today announced a collective pledge of $26 million toward the “Grand Bargain” campaign to help both the Detroit Institute of Art (DIA) and the City of Detroit.
GM and the GM Foundation are contributing a total of $10 million – $5 million each – of the auto industry’s $26 million pledge, which is part of the DIA’s commitment to raise $100 million to help Detroit emerge from bankruptcy and protect the museum’s art collection for the public.
“Preserving the integrity of Detroit and one of its most beloved and historic pillars is of the utmost importance to GM and the GM Foundation,” said Mark Reuss, GM executive vice president, Global Product Development, Purchasing and Supply Chain and GM Foundation vice chairman. “We are longtime supporters of the DIA and pledge our help to keep it an integral part of our community.”
Eugene A. Gargaro Jr., DIA board chairman, thanked the automakers for their support:
“On behalf of our entire DIA board of directors, our Director Graham Beal and all other members of our DIA family, we are extremely pleased and appreciative of this remarkable financial commitment by the leadership of our corporate community,” he said.
The Grand Bargain was proposed by the mediators of city’s bankruptcy and led by Chief Judge Gerald Rosen of the U. S. District Court for the Eastern District of Michigan, and attorney Eugene Driker.
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About General Motors Foundation
Since its inception in 1976, the GM Foundation has donated hundreds of millions of dollars to American charities, educational organizations and to disaster relief efforts worldwide. The GM Foundation focuses on supporting Education, Health and Human Services, Environment and Energy and Community Development initiatives, mainly in the communities where GM operates. Funding of the GM Foundation comes solely from GM. The last contribution to the GM Foundation was made in 2001. For more information, visit www.gm.com/gmfoundation.
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About General Motors Co.
General Motors Co. (NYSE:GM, TSX: GMM) and its partners produce vehicles in 30 countries, and the company has leadership positions in the world's largest and fastest-growing automotive markets. GM, its subsidiaries and joint venture entities sell vehicles under the Chevrolet, Cadillac, Baojun, Buick, GMC, Holden, Jiefang, Opel, Vauxhall and Wuling brands. More information on the company and its subsidiaries, including OnStar, a global leader in vehicle safety, security and information services, can be found at http://www.gm.com.
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KEYWORDS: Philanthropy, Business & Trade, GM Foundation, DIA, Detroit