WTF?

[stlukesguild]

Jeff Koons, Gagosian Gallery, and Many Other Blue-Chip Art Operations Received Millions of Dollars in Government Stimulus Money

WTF?

 

[JohnEmmett]

Some people are so poor… they have only money.

 

[Artyczar]

Koons, hopefully, is paying his employees that probably don't get much and would have maybe lost their jobs eventually. Money also went to a number of museums. And any one can apply--anyone that uses a Schedule C on their taxes. Any gallery for that matter, not just the big ones. They took advantage of what was out there. Perhaps being resourceful is why they are successful in the first place.

 

[xie-kitchin]

For more context: https://www.cnbc.com/2020/07/06/cor...-small-business-loan-recipients-released.html

You would presume a lot of these folks would be more able to weather shortfalls, vs small regional galleries and artists. It really calls into question what "small business" is even supposed to mean (it's not necessarily what a lot of people assume).

 

[Katie]

Victoria Beckham has a family fortune of 335 million pounds and her husband is a former football star, and so there was a backlash when it was revealed that Victoria Beckham was taking advantage of the government's emergency scheme by asking for a bill of up to 200,000 pounds from taxpayers to pay 80 percent of wages for her staff before the end of June.

Victoria Beckham's call for government funding triggers backlash

The report of Victoria Beckham asking for government funding to pay furloughed staff at her fashion label during coronavirus lockdown has triggered backlash.

news.cgtn.com

.

 

[Artyczar]

Yes, you'd think they would have enough wealth to provide for their employees instead of taking government loans. Doesn't seem right, does it? I am glad my gallery (so small in comparison) got a little money to stay open for the time being. But yes, you'd think Koons would pony up his own money. Maybe that's it--he doesn't want to. Who am I to say he can't? I have no idea! I have no idea if these big named galleries can or can't. The obviously qualified, and were allowed the funds based on their employee size and not their financial need.

A lot of artists, like Koons, rely on other people's, or institutions' funds to allow them the wherewithal to make their art and pay their many assistants. I have no idea how he spends his profits otherwise. I am glad that a lot of those other institutions were given funds. I'm glad the resource is there, especially for things like the art business/art world.

There will always be people that take advantage of these things. How many people take SSDI that are actually sick? It's staggering! I know SS do their best to manage fraud, but the many people who do it are making it horrible for those that really need those checks.

The government really should have put limitations on these stimulus loans, but I guess they didn't exactly. I don't know what the solution is. I don't like talking politics, but it has a lot to do with this and how the House and congress leans.

 

[xie-kitchin]

The obviously qualified, and were allowed the funds based on their employee size and not their financial need.
The government really should have put limitations on these stimulus loans, but I guess they didn't exactly.

This is basically the criticism. And it was a concern from a minority of folks, including some who voted on the bill IIRC. Not just stronger limitation on who gets the money but stronger limitations on what happened after money was received, e.g. requiring companies to retain employees and so forth.

 

[Maybenartist]

Pandemics have no affect on greed accept to make to make the greedy wonder how they can benefit from said situation.