Youtube & The Guggenheim have released their short list for the “Play” Biennial and there is a God since my favorite art video not only is back from the dead but has a new work out. Strindberg and Helium at the Beach tell the tale of a fatalistic Swedish playwright and his best friend a bubble gum pink ballon named Helium. Even though Bad at Sports didn’t make the short list if “Play” does nothing more then vault artist Eun-Ha Park and Strindberg & Helium back into production I call it a roaring success.

• What is this you say? The Art world has a habit of being delinquent on payments (even more so since October of 2008) and that can have larger ramifications throughout the entire ecosystem? Balderdash I say, pure poppycock; where did I put my monocle. Read more here
• A new Art Fair called of all things “VIP” that has no physical location and is 100% virtual on the net, marketing is not discussed nor noticable yet, there is no meet and greet which is the cornerstone of art, you will be expected to buy without ever seeing the work in the flesh & they want to charge $20,000 a booth and be held 22-30 January. If this didn’t have Gagosian, Sadie Coles, Emman uel Perrotin and David Zwirner involved I would be rolling on the floor laughing, oh wait I still am. Laugh more here
• Auction house Christie’s has hired, from outside, a former publishing, record company and Disney executive as its new CEO. Read more here
• Chuck Close does a public interview at the Art Institute of Chicago, where he discusses his life, art, and the creative process. Watch more here
• The Art Institute of Chicago Sues the Engineering Firm that built it’s Modern Wing citing cracks in concrete floors, condensation clouding the main vestibule glass and an air-conditioning system that can’t maintain a safe climate for artwork. The estimated cost of repairs is $10 million. Read more here
• Stuart E. Hample, Humorist and Cartoonist, Dies at 84. Read more here Also Howard Brodie, Combat and Courtroom Artist, Dies at 94 Read more here
• Deep in us we all love science and have had great joy in the data coming from the Large Hadron Collider and even more in the sillyness surrounding it but it’s interesting to watch scientists fall all over themselves trying to address what would happen if the beam hit anything organic. Watch more here

One more video from the “Play” Biennial, this is fun lol.

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I wish Annie Leibovitz well and hope she gets her financial situation back on track and doesn’t suffer the pain shared by The Beatles and Stones which is the never ending chase to put the genie (rights to your own work) back in the bottle once you have sold it. Aside from that I can’t bring myself to shed a tear or show any shock over her situation.

If you haven’t had a chance to read up on this, on July 29th Ms. Leibovitz was sued by Art Capital Group in the NY State Supreme Court for failure to pay towards a loan of $24 million that she took. The collateral for this was properties in Greenwich Village and in Rhinebeck, N.Y., her negatives and the rights to her photographs.

Essentially the bulk of her assets.

Now after failure to make the basic payments Art Capital Group has successfully pursued payment in the courts and is gaining access to the collateral with the goal of liquefying the assets to regain the funds. Ms. Leibovitz has not commented on the actions and I don’t see any advantage to commenting but sadly it is reported that this is not the first time she has had problems making proper financial payments to clients or the state for taxes.

The point is this is not a rare case in the Art world, many many artists and creative professionals regularly take upon themselves financial responsibilities that they are ill prepared to handle or worse ignore all together. Only to learn that ignorance isn’t a defense in the court and a lifetimes worth of work and struggle can be lost in the balance of a few or single bad financial decisions.

I know it feels like it is hard to find people to trust, or you don’t want to have some “parental” figure limiting your decisions or options but the business side of art is as important in the long term if not in many ways more important in enabling great work to be produced and shared with the world.

Please take this opportunity to take a good hard look at your current situation if this current economy hasn’t made you already and ask yourself are you properly taking care of your long term finances and are adequately planing for trouble and can personally handle that responsibility yourself. If the answer is no, find someone skilled who you can partner with to make sure you don’t sign contracts or do expenditures you will live the rest of your life regretting.

Life in Art is hard enough, don’t be your own worst enemy.

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Ald. Ed Burke (14th) chairman of the Finance Committee, today increased the pressure on the Art Institute of Chicago say it isn’t affordable for many city residents.

The fee increase, which takes effect May 23, will increase general admission to $18 from $12, and student and senior admission to $12 from $7. But the museum notes that, unlike now, the new fees will include the costs of exhibitions.

”If they want to be a private institution and do whatever they want, that’s fine,” Burke said. “Once they accept taxpayer dollars, it’s a different story.”

Read more at the Chicago Tribune report.

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With the financial market squeezing donors, collectors and the backers of the art market, the word recession has been a new mantra that has plagued the New York art scene. This week Amanda Browder (host of the Amanda Browder Show) and Tom Sanford (BAS reporter and artiste) talk with Craig Houser (curator), Les Rogers (artist) and John Lee (dealer/gallery owner) about the current financial recession in New York and how it compares to the most recent recession in the 80′s. Watch out Elizabeth Peyton, your neck is first.

Next: Mike Benedetto (jackass, BAS film critic) reviews The Watchmen.

IMPORTANT: be sure to stick around after the credits for a very special and heart rending public service announcement from Mike, that, much to his surprise, I actually did run in the show. Read more

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The IRS has asked the Swiss government to aid in the investigation of International Banking & Investment group UBS and their overseas tax havens programs which some have reported amount to intentional tax evasion and fraud.

Art Basel is mentioned as the go to location for foreign employees of UBS to illegally recruit wealthy individuals to help them avoid reporting billions of US dollars in assets. Clients were at times told to use code words when communicating with UBS. Testimony states that roughly 80 UBS bankers traveled to the US 4-6 times a year to pitch the bank’s secretive services to clients at upscale events as Miami’s annual Art Basel fair.

The bankers used encrypted computers, devised codes for their clients’ identities, told Customs agents the trips were for vacations, notbusiness, and advised clients to place jewelry, paintings and other assets in Swiss safe deposit boxes, Birkenfeld testified in June, when he pleaded guilty to helping California billionaire Igor Olenicoff evade $7.2 million in U.S. taxes.

Former LGT computer technician Heinrich Kieber helped tax investigators around the world flesh out those statistics by handing over data on approximately 1,400 of the bank’s clients.

Kieber is in hiding as Liechtenstein authorities seek him on charges of violating secrecy laws.

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