Word: rosing
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Dates: during 2000-2009
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There's a Stephen Sondheim lyric that says it all: "Art isn't easy." Last week Brandeis University in Waltham, Mass., stunned both the academic and art worlds when it announced that it would shut down its Rose Art Museum and sell the collection. The reason was an institutional budget crisis - not at the museum, which is largely self-sufficient, but at the university. Since June, Brandeis has seen its endowment fall from $712 million to $530 million. Over the next six years it projects a budget shortfall totaling $79 million. And the collapse of Bernard Madoff's alleged Ponzi...
Meanwhile there was the Rose, with its collection of more than 7,100 objects, including works by major American artists like Jasper Johns, Willem de Kooning, Roy Lichtenstein and Andy Warhol. In 2007 the collection was assessed by the auction house Christie's to be worth around $350 million. The downturn in the art market since last fall makes its value today anybody's guess, but it would still command a sizable sum. Brandeis trustees insist that if they can't raise money by selling art, they will have to reduce staff by 30% - there were already cuts last year...
That Christie's appraisal of the Rose collection was ordered up by the museum's now thoroughly traumatized director, Michael Rush, who did not learn that Brandeis had plans for his museum until the day the school made its initial announcement. He wanted to arrive at a dollar figure for the collection, he says, for insurance purposes, but also to raise the profile of the museum in the eyes of campus administrators. "I thought that the more information they had about how great this place was, the better it would be," he says. "That may have backfired...
...recent past had made believers out of many marketing analysts, until this year. In 2007, online advertising rose 26% to $21 billion. By most estimates, that growth rate dropped well below 20% last year and could fall to under 15% this year. These figures include search advertising which is dominated by Google (GOOG). It is still the most efficient online method for reaching customers, so if search revenue is removed from the analysis, internet display sales may already be falling...
Denmark may be a country of just 5.5 million people - about as big as a medium-sized city in China - but a fitting host of the climate change summit. Denmark has thrived while emphasizing clean energy and cutting carbon emissions - between 1980 and 2004, the country's GDP rose 56% while CO2 emissions dropped 35% - and thanks to smart policies and investment, more than a quarter of Denmark's electricity now comes from renewable sources. Danish companies also punch well above their weight in the growing wind turbine industry. To drum up global support for the summit, Hedegaard can easily...