Top Stories Boston

Archive for the ‘Andy Warhol’ Category

Pricked by a Rose?
Fallout from Bernie Madoff’s titanic scheme is still unfolding, as was made clear on this week’s 60 Minutes report about the search for billions bilked by the New York Ponzi king.

Fallout from Bernie Madoff’s titanic scheme is still unfolding, as was made clear on this week’s 60 Minutes report about the search for billions bilked by the New York Ponzi king. Now, it appears that scandal has claimed its highest-profile New England academic casualty with long-time Brandeis University President Jehuda Reinharz unexpectedly announcing his resignation this past week.

Reinharz, who was just one year into his current half-decade contract, does not appear to have been forced to step down after having served 15 years at the prominent Jewish university. His formal correspondence with Brandeis trustees — whom the president informed of his possible retirement this past August, and who are publicly disappointed by the development — makes no specific mentions of financial woes. Nor is there reference to the school’s Rose Art Museum, which garnered national attention in late January when trustees unanimously voted to liquidate its treasures to offset a five-year projected deficit of $80 million. Still, Reinharz’s decision to step down was almost certainly spurred on by the economic earthquake, which saw Brandeis’s endowment reportedly hemorrhage $162 million since last year, and his at times faltering attempts to right the school’s grim financial situation.

The shocking announcement to close the Rose, for example, generated widespread criticism and put at risk more than 6000 works, including modern marvels from the likes of Jasper Johns and Andy Warhol. Though all board members acted to shutter the museum, Reinharz shouldered much of the burden. On February 5, the president issued a half-apology, claiming that the Rose would not be subjected to an immediate fire sale, and part of the $20,000 paid to Boston public-relations firm Rasky Baerlein to tame the ensuing media circus came out of Reinharz’s salary.

Read more