Word: herds
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There are perhaps 1,000 art buyers in Los Angeles. Their passions invite, and to some extent deserve, a degree of skepticism. The visitor who wends his way from house to house, seeing the same work by the same fashionable names, trophies of an insecure herd instinct that relies too much on too few galleries, most of them in New York (Castelli, Pace, Blum Helman, Boone, Cooper, Gagosian), is bound to feel dyspeptic. Was ever so much money raked from such passive, anxious uniformity of taste? And did dealers ever have such an unbridled influence on museum trustees and, through...
...promises to be a classic struggle. On one side: environmentalists, guardians of the 18 million-acre Arctic National Wildlife Refuge, which sits on Alaska's North Slope near the Canadian border. An untouched domain of musk oxen, polar bears, golden eagles, wolves and a cherished herd of 180,000 caribou, the preserve is one of the nation's last pristine animal ranges. The opposition: developers who seek the vast energy riches believed to lie beneath the refuge's 1.5 million-acre coastal plain. These reserves may hold as much as 5 billion to 30 billion...
...comparison does not sway defenders of the Arctic Refuge. They point out that the preserve's coastal plain is one-third the width of Prudhoe Bay's and that the caribou herd that migrates there to calve is 15 times as large as Prudhoe's. Says Mark Troutwein, a consultant to the House Subcommittee on Energy and the Environment: "The area is a priceless wildlife resource that cannot tolerate airstrips and pipelines without a serious loss of quality...
...Taking into account that among these beautiful talkers were dense hypocrites and adventurists like the much-talked about swine herd of the 1960s, there appeared a certain skepticism toward pretty words among part of our youth," Oleinik said...
...anything that is remotely in vogue. "I'm always looking for companies that have real value," he says, "companies that we would be proud to own." Says E. John Rosenwald, an executive at Bear Stearns, a New York brokerage firm, and a Tisch family friend: "He's not a herd follower." Last year, for example, Tisch bought seven oil supertankers for a fraction of what it would have cost to build them. He is betting that the distressed oil industry will eventually rebound. Tisch is self-deprecating about his financial ability. "I've been lucky," he shrugs...