Displaying items by tag: finances

Once home to kings and now one of France's most visited sites, the Chateau de Versailles is planning a new venture with a luxury hotel to prop up its finances, local media said on Sunday.

The palace's management has called for a tender to create a hotel in three 1680s buildings situated just outside the Versailles park's gates, with views of some of its most famous buildings, the Journal du Dimanche said.

“For a long time, the Cultural Department has followed the development of the institution and pointed out a need for a change,” Sweden’s cultural minister Lena Adelsohn Liljeroth says.

Slightly more than a year after the Cooper Union for the Advancement of Science and Art announced its plan to charge tuition, a group of professors, admitted students and alumni filed a lawsuit in New York State Supreme Court on Tuesday against the school's board of trustees.

The plaintiffs' aim: to stop the school from introducing tuition next fall and to prompt a court investigation into how the board has managed school finances.

The plaintiffs—a group called the Committee to Save Cooper Union Inc.—are represented by the law firm Emery, Celli, Brinckerhoff, & Abady, which has previously litigated high-profile cases seeking to halt city plans at places including the High Line and the Atlantic Yards.

We’ve all read media reports of internal problems at the Museum of Contemporary Art in Los Angeles — exhibitions canceled, staff fired, and artist trustees resigning in protest. Reporters on the West Coast are having a field day. These problems can probably be laid in part at the door of bad management. There is no doubt the current museum director, Jeffrey Deitch, and his predecessor, Jeremy Strick, made foolish decisions: Strick spent down the museum’s endowment without attending to fund-raising, and Deitch appears to be willing to degrade the program to boost attendance.

But there are other reasons why MOCA is struggling — reasons that, it seems to me, have as much to do with the nature of museum financing in this country as they do with the limitations of the individuals managing that institution.