Friday, June 19, 2009
Pay $3 Million or We Sell This Kandinsky
Looks like Dennis Szakacs has competition for art-selling villain du jour. Long Beach City Councilman Patrick O'Donnell is talking of selling artwork if the Long Beach Museum of Art doesn't meet a $3 million bond payment due this September. It's not likely to have it — LBMA's finances are a train wreck. Hence O'Donnell's ultimatum: the City of Long Beach holds the deed to that part of the museum's permanent collection acquired before 1985. That includes the Milton Wichner trove of Bauhaus-era modernism.