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...Hoving loved expanding the museum's collections, and he loved the chase. He didn't mind spending lavishly for major works like the Met's great Velázquez portrait of Juan de Pareja, which cost $5.5 million in 1971, a sum that qualified it then as the most expensive painting in the world. He also didn't mind selling off a Van Gogh and a Rousseau to help cover the cost, which got him into a public feud with the press over the notion of museums selling their treasures to buy new ones. The controversy brought on an investigation...
...recent years, another episode of his career at the Met came back to haunt him. It involved the Euphronios krater, a Greek mixing pot from the 6th century B.C. that the Met purchased in 1972 for what was then the enormous price of about $1 million. When it was offered to Hoving, he merrily surmised that it might well have been looted from an archeological dig, as he admitted in Making the Mummies Dance, his typically cocky 1993 memoir. Though he goes on in that book to describe how he became convinced that it wasn't stolen, on another page...
...managers more flexibility and control than they've had in two generations. GM could become profitable very quickly if demand for new vehicles recovers, he says. Indeed GM has said in filings with the Federal Government that it expects to be marginally profitable if industry sales reach 11 million units...
...life is like a box of chocolates, Gillespie’s got a million different flavors...
Nearly twenty states have already passed legislation divesting their state pension plans of any foreign company that invests more than 20 million dollars a year in Iran (there are 19 such companies). Scores of municipalities and labor unions are beginning to follow suit. Given today’s economic climate, it is financially prudent for Harvard to divest its holdings from companies that could soon be the target of American and international sanctions...