Word: connoisseurs
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...suppose," says Nathan Cummings, "that there isn't a week that goes by that I don't look at somebody's business." Cummings, who will turn 70 this fall, is a Canada-born, Chicago-based connoisseur of fine art and fine companies. His Consolidated Foods Corp. (TIME, June 24) has made corporate acquisitions and become a food-industry behemoth, with sales last fiscal year of $830 million. Last week Cummings announced the result of his latest look into somebody else's business. Consolidated agreed on a merger in which, for $140 million in stock, it will...
...world-famous collection of Cezannes, Van Goghs, Renoirs-all part of $100,000 worth of phony masterworks, especially commissioned to help Director William Wyler (The Collector) fashion this meticulous high comedy about ars graftia artis. Among the other experts at hand are Art Dealer Charles Boyer and a frenzied connoisseur (Eli Wallach) who yearns to whisk both Audrey and the nude Cellini back to his Stateside lair...
...Many Are Afraid." In the art of acquisition, Canadian-born Cummings has the connoisseur's touch. He likes to buy the works of recognized painters, unblinkingly paid $92,500 for Picasso's Woman with Flowers. Doing corporate deals, Cummings looks for moneymakers whose owners might like the strength and size of Consolidated. He closes deals rapidly, sometimes in just one day. "If they don't go quickly," he says, "they usually never go." He scrutinizes a prospect's book value, sales and earnings reports, also examines advertising budgets because "advertising is closely related to consumer demand...
...Guards for El Greco. Duncan Phillips was above all else the single-minded connoisseur. His goal: "To stand sponsor especially for the lonely artist in quest of beauty, independent of all cliques and movements." Art, he felt, was to be shared as he had experienced it best, in "an intimate, attractive atmosphere that we associate with a beautiful home." Grandson of a Pittsburgh steel tycoon and independently wealthy, Phillips, after Yale ('08), turned to art. One of his initial loves was Daumier. He bought the French caricaturist's Three Lawyers in 1919, the first of what became...
Died. Duncan Phillips, 79, art connoisseur and creator of Washington's magnificent Phillips Collection, through which he shared his treasures with the world; of heart disease; in Washington...