Category Archives: business

State of the Art

Leonard A. Lauder has given The Met a gift of Cubist works worth over $1 billion

Leonard A. Lauder has given The Met a gift of Cubist works worth over $1 billion

  • Obama’s proposed budget would increase arts funding by about $200,000. [The Chronicle of Higher Education
  • Philanthropist and cosmetics tycoon Leonard A. Lauder gives his Cubist collection, valued at over $1 billion, to the Met. [NY Times]
  • MoMA will raze the former American Folk Art Museum building, designed by Tod Williams and Billie Tsien, to complete its midtown expansion. “It’s unusual and it’s tragic because it’s a notable work of 21st century architecture by noteworthy architects who haven’t done that much work in the city, and it’s a beautiful work with the look of a handcrafted facade.” [NY Times]
  • Occupy Victory: New York City and Zucotti Park owner Brookfield Properties will pay $366,700 to Occupy Wall Street to cover damages and legal fees related to the destruction of the OWS People’s Library. [NY Mag]

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Artist as Small-Business Owner

On Monday, the NY Times reported that President Obama’s proposed budget includes an $8 million dollar increase to National Endowment for the Arts funding.

Not surprisingly, Republican presidential hopefuls have criticized the plan. Mitt Romney calls it “an insult to the American taxpayer.” In fact, in the Op-Ed that Romney wrote last November for USA Today, he calls for:

“deep reductions in the subsidies for the National Endowment for the Arts, the National Endowment for the Humanities, the Corporation for Public Broadcasting and the Legal Services Corporation.”

Culture programs always seem to be deemed “unnecessary” extras that should be the first to be cut during a recession. But in reality, we should think of agencies like the NEA as programs that support and advocate for small-business owners. Continue reading

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