Homa Nasab
Homa Nasab’s Observations on Art and Culture

Homa Nasab's MuseumViews

Palm Beach Show Group Acquires The Avenue Show at NY’s Park Avenue Armory

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Antonio Cardamuro, Director of Sales Jewelry and Watches at Buccellati, with One-of-a-kind Dragon brooch, 1976 - Photo courtesy Homa Nasab

Those of you who have been reading my posts know that I was in Florida, earlier this year, to attend a number of art & antique fairs – in Naples, Palm Beach and Miami -, as well as the Miami International Film Festival.

Here is a recap of my aesthetic adventures in the sunshine state: The Jewels in the Crown of the Palm Beach Show Groups; A Collector of Collectors at Palm Beach Art, Antique and Jewerly Show; American International Fine Art Fair, Palm Beach as well as an exciting event that was organized by the American Friends of British Art, a Palm Beach-based charity that was founded by my friend, Floridian philanthropist Dr. Michael Ridgdill, in 2003: The Life of the House: How Rooms Evolve, Lady Henrietta Churchill and American Friends of British Art to host Lady Henrietta Spencer-Churchill.

Now that I divide my time between New York City and Los Angeles, I am excited to read that the Palm Beach Show Group has just announced the acquisition of the Antiques, Art & Design at the Armory Show, also known as the AVENUE Show, from Manhattan Media. Under the directorship of its young and dynamic Floridian President and CEO, Scott Diamant, the PBSG already hosts shows in Los Angeles, Dallas, Naples, Chicago, Baltimore and Palm Beach.

12 years since its inception, the Palm beach Show Group has managed to cultivated an impressive line-up of dealers, collectors, curators, designers and advisors from around the world.

The group nationally held shows include:

Dallas International Art, Antique & Jewelry Show (November 7-11, 2013)
LA Art Show (January 15-19, 2014)
Los Angeles Jewelry & Antique Show (January 15-19, 2014)
Naples Art, Antique & Jewelry Show (February 6-10, 2014)
Palm Beach Jewelry, Art & Antique Show (February 14-18, 2014)
Chicago International Art, Antique & Jewelry Show (April 24-28, 2014)
Baltimore Summer Antiques Show (August 21-24, 2014)
Art Baltimore (August 21-24, 2014)
Palm Beach Jewelry & Watch Show (November 13-16, 2014)

Stay tuned for Muse’N LA’s coverage of the LA Art Show (January 15-19, 2014) and Los Angeles Jewelry & Antique Show (January 15-19, 2014), in January!

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Coming Soon: MUSEUMVIEWS Presents Muse’N LA : a new VIDEO Series “Conversations with Los Angeles-based artists, collectors, art dealers, patrons, performers, dancers, choreographers, costume designers, filmmakers, composers, musicians, etc…
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  1. Why does it makes sense to buy the Washington Post for $250 million, rather than spending $250 million creating an awesome journalistic product from scratch? Because the Washington Post is already established — and while it’s easy to buy journalism, and even traffic, for $250 million, it’s harder to guarantee yourself the kind of name recognition and national reputation enjoyed by the Washington Post. That reputation is built on hard-won promises: promises to readers that they can trust what they’re reading, and promises to writers too. The deal that the Washington Post made with its writers — the deal which helped to cement its reputation — involved not only paying them a present salary, but also promising them a decent pension. That promise helped to build the brand, and it was attached to a fully-funded and very well managed pension fund. The pension fund is, in all senses of the word, an important part of the value of the Washington Post. And Bezos just managed to acquire a $333 million pension fund, which only has about $283 million of liabilities, for $250 million. Which says to me that the value of the newspaper itself is clearly negative.

  2. * The 47 percent here? Far fewer escape city’s income tax. Sam Roberts and Patrick McGeehan – The New York Times. In New York City, the “47 percent” is only 35 percent. That’s the share of city tax filers who, according to an analysis by the city’s Independent Budget Office released Thursday, paid no city income tax in 2010 — as opposed to the 47 percent of Americans that Mitt Romney, the Republican presidential nominee, said depend on government handouts, pay no federal income taxes and will vote for President Obama. ?(The views expressed in this column are the author’s own and do not represent those of Reuters)

  3. There are a number of good ideas in here. First is the simple benefits of diversification. A $200 million research project with a 5% chance of success is a gamble. But if you bundle up 50 such research projects, even if there are some pretty strong correlations between them, your probability of success becomes much higher. You won’t make 60 times your initial investment, of course, as you if you just invested in one project and it worked out. But investors tend to prefer safety to risk: they’re generally happier with a very high chance of getting a 10% return than they are with a very low chance of a 10X return.

  4. Until investors’ put-back claims are resolved, Robertson said, any MBS issuer (or the government) will have to provide enough subordination to account for the extra risk investors believe they bear. Robertson estimated it would take 20 percent government backing, for instance, to reassure the MBS market about any new offering. He also said pooling and servicing agreements will have to be, in his word, “tweaked” to reflect investor concerns. Going forward, Robertson said, pooling and servicing agreements will have to distinguish between issuers and servicers to remove a potential conflict of interest, offer investors more access to information about the performance of underlying assets and include additional specificity about the fiduciary responsibilities of MBS trustees.

  5. By the time all’s said and done, the $1,000 that you lent yourself from your 401(k) plan, and failed to pay back in a timely manner, has become $1,520 in “leakage”. Add in some extra “leakage” for people who default due to death or disability (apparently even dead people raid their 401(k) plans to pay income tax on the money they withdrew), and somehow Litan and Singer contrive to come up with a total of $37 billion.

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