Thursday, January 26, 2012

Detroit Science Center Could Face Liquidation

Detroit Free Press reports on the latest developments with the Detroit Science Center:

"Though political lobbying could buy the Science Center some time, the current post-crash financial environment makes it harder for once-troubled banks to offer relief to their clients, even a nonprofit cultural and educational institution like the Science Center.

"John Miller, former acting president of the Science Center, said liquidation could begin in 30-45 days.

"'Imagine saws and blowtorches coming in there and disassembling exhibits and selling them for nickels on the dollar in order for the bank to recover some of its debt,' said Miller, who resigned from his voluntary Science Center post and left the board in early January because of other commitments."