Oh you're no fun. Fine. Found this for you on artnet.com.
TOP CURATORS CAUGHT IN ENRON WEB
Two top museum curators have become caught up in the bankruptcy
scandal surrounding the Houston energy company Enron, which among its
many business enterprises also embarked on a multimillion-dollar art-
buying spree. The Enron corporate collection was formed with the
assistance of Ned Rifkin, the new director of the Hirshhorn Museum
who formerly headed the Menil Collection in Houston, and Barry
Walker, a curator at the Houston Museum of Fine Arts. The two museum
staffers received no remuneration for their extracurricular
activities, according to a spokesperson for the Houston MFA. Among
the Enron acquisitions, according to a report in the New York Times,
was Martin Puryear's Bower (1980), a sculpture of wooden latticework
that sold at Sotheby's New York last spring for $764,750 (with
premium) -- an auction record for a work by the artist. The Enron art
committee was headed by Lea Fastow, wife of former Enron fiscal
officer Andrew Fastow, who is at the center of the scandal. The
corporate art collection should eventually end up on the auction
block along with other Enron assets -- but don't be surprised, say
business observers, if choice artworks end up in the hands of top
company executives.
...and this is from The Washington Post.
What Enron was, though, was a good corporate citizen, one that
spread its money throughout the city. And the latest big Enron
project was the formation of a great art collection, one that would
be on display to the public as well. Enron executives -- particularly
Fastow -- envisioned this collection as one that would be mentioned
in the same breath as those held by companies like Chase Manhattan
and Paine Webber. Prominent members of the Houston art world,
including Ned Rifkin -- then the head of the Menil Collection, now
the director of the Hirshhorn Museum -- and Barry Walker, a curator
at the Museum of Fine Arts, were recruited to be a part of the
collection committee, which was headed by Lea Fastow.
According to Walker, the plan was to forge a collection full of new,
cutting-edge pieces, along with a few examples of earlier modernist
classics to work as anchors.
"They wanted the work to be contemporary and adventurous -- the work
was supposed to reflect Enron's culture," Walker says.
So the group bought a Bridget Riley and a Bill Viola projection
piece, the Oldenburg and an important Mark Puryear titled "Bowers"
that went for nearly $700,000 at auction. As one of the anchors, they
purchased a piece by famed minimalist Donald Judd. When the
bankruptcy occurred in December, more than a dozen pieces had been
collected, costing in the millions, and the committee was in the
process of reviewing proposals by artists for solicited pieces as
well.
These days, though, Walker isn't sure where all of the art is, or how
it's being handled. Some pieces, he says, were never delivered, and
remain at different galleries and studios. The two major pieces, the
Puryear and the Judd, were never installed in Enron's headquarters.
The Puryear has been lent to the Menil, and the Oldenburg to the
Museum of Fine Arts. The Oldenburg, called "Soft Light Switches," is
a red-vinyl version of the traditional double light switch. Some
experts consider it a pop masterpiece. It saddens Walker that it's in
a crate and not being seen.
"If we're going to show a work," Walker says, "we usually get
permission to exhibit it, and I don't know who to get permission from
now. I've never been in a Chapter 11 situation before. This is new
territory for me."
― Kim, Wednesday, 27 February 2002 01:00 (twenty-three years ago)
so, boring and decortive but important then, any fool who spent 700k
on bowers should go bankrupt, grumble , grumble , grumble
― anthony, Thursday, 28 February 2002 01:00 (twenty-three years ago)