Stateside
4:21 pm
Mon December 9, 2013

Former Wayne State professor donates $5 million to the DIA and Detroit retirees

There's been a new development in the unfolding story about Federal Judge Gerald Rosen and his bid to protect the DIA collection and the pensions of Detroit city retirees.

Judge Rosen is serving as the mediator in the Detroit bankruptcy case. We've heard how he is trying to craft together a plan wherein at least 10 national and local charitable foundations would chip in to create a $500 million fund, a fund that could be leveraged to not only protect the DIA treasures but to lessen the pain of retiree pension cuts.

Late last week, a former Wayne State Chemistry professor stepped forward with an offer.

Dr. A. Paul Schaap developed a molecule that created light through chemistry. His discovery proved very useful in a wide range of medical tests. He then founded the company Lumigen, and he made many millions as a biotech entrepreneur.

Over the years, Paul Schaap has given many millions back to Wayne State, to Hope College, to professors and researchers. Now, Paul Schaap is donating $5 million to help the DIA and the city retirees.

Dr. A. Paul Schaap joined us today.

Listen to the full interview above.