Big Three Automakers Pledge to Support Detroit Retiree Pensions

Monday Governor Snyder made a major announcement for the city of Detroit’s bankruptcy plan.

General Motors, Ford and Chrysler are pledging $26 million to help support retiree pensions and keep the cities artwork from being sold off.

About 2,800 city-owned pieces have been valued at from $450 million and to more than $850 million.

Creditors were hoping to sell it to help settle debt.

Last week the Michigan Legislature approved $195 million for Detroit’s two retirement systems.

Snyder has said he will sign the bill.