Wednesday 26 May 2010

Cuno's institute in Financial Trouble

James Cuno, the guru of "Internationalist" private collectors has had to fire 65 members of staff in his own Universal Museum, the Chicago Art Institute, the second round of layoffs at the museum since June 2009, when 22 employees were cut (Lauren Viera' Art Institute lays off some 65 staffers' Chicago Tribune, May 24, 2010). The layoffs are the result of a massive budget deficit, due to endowment losses. I am sure collectors are wondering why Mr Cuno does not simply sell off some of the "duplicate" objects in the collections to private collectors, which is whaty they urge on all other public institutionsholding collectables they'd like to get their hands on.

1 comment:

Damien Huffer said...

Probably because only "fresh kills" will do for most collectors.

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