With orders for new aircraft down, the private jet industry is launching a PR onslaught
and a website
to counter all the bad press
surrounding greedy executives flying private jets. Lo and behold, two financial columnists expressed strikingly similar views
on the subject. Members of Congress, who love to catch a ride home on a contributor's private plane, are helping out too
In these difficult economic times, what's a museum to do? Is an art collection a financial asset or a trust to be held in perpetuity? These questions are being raised by The National Academy
in New York's recent sale (or "deaccessioning" in museum lingo) of two important paintings for $15 million to shore up its finances, first reported by Lee Rosenbaum's ArtsJournal blog.
The museum's director told The New York Times
that it was the only way for the 183-year-old academy, which runs a chronic operating deficit, to survive. The Association of Art Museum Directors censured the Academy
and called on its members to suspend any loans of art to the institution. New York lawyer Donn Zaretzky's ArtLaw Blog has
become ground zero for a fascinating debate involving art critics, museum directors, financial bloggers and others.
The nine biggest US banks aren't using $125 billion in federal bailout money to make loans. They're going to use taxpayer dollars to buy other banks. [more inside]