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Artkrush is a bimonthly email magazine covering the key figures, exhibitions, and trends in international art and design.


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November 12, 2008

Recession Hits Art Museums
(Wall Street Journal, October 30, 2008)

Though small galleries are by no means exempt from the rising tide of financial woes, directors at some of America's largest museums have begun voicing their own concerns over the struggling economy. In the last two decades, a wave of museum expansions was propelled by donations from companies now making headlines with announcements of widespread collapse and crippling mergers. While construction might be complete, many recent renovation projects will continue to weigh down museum budgets for years to come. In related stories, the St. Louis Art Museum decided to table its expansion project, citing unstable markets, and Boston's Museum of Fine Arts embarks on an ambitious $500m fundraising campaign in hard hats and tool belts.

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