Mark Ford

Wednesday, May 25, 2022, Los Angeles, California

May 25, 2022 No Comments

Untitled, 1967, Armando Morales

Oil and collage on canvas
40.25 x 32 inches

I’m excited about our most recent acquisition. It’s the oil painting you see above, by Armando Morales. Along with Francisco Zúñiga and Carlos Mérida, he is among the best-known and most sought after Central American Modernists.

This brings our collection of his work to seven pieces. We have one forest scene, three nudes, and, with this, three abstracts. Currently, the forest paintings demand the highest prices – ranging from $100,000 to $1 million. The nudes are typically bought and sold in the $30,000 to $50,000 range. But the early abstractions, like this one, which Morales did in the 1960s when he was living and working in New York, lag behind in valuations.

Suzanne bought it for a good price from a distressed buyer. It has excellent provenance and is a good size at 40 x 32 inches. In adding this piece, I’m betting that the gap between the forests, the nudes, and the abstractions will narrow as Morales’s reputation in the international art community continues to climb and the art-buying public realizes how great these early abstractions are.

News & Views

May 25, 2022 No Comments

In late March, CNN tested an exciting idea – a subscription-based streaming service that they called CNN+. It would compete with Fox Nation, which has more than 1 million subscribers and is growing fast. They hired 500 employees and invested $300 million into the project. They also promised to pony up another billion over the next four years. They expected to sign up 2 million subscribers in the first year, and 15-18 million after four years. But two weeks after the launch, the service had fewer than 10,000 users. The new CEO said, “This is nuts,” and shut it down on April 30.

Fun and/or Interesting

May 25, 2022 No Comments

About Fox News: Contrary to popular belief, Fox’s audience is far from ideologically homogeneous. A Morning Consult survey found that more independents watch Fox News than any other network. And according to Nielsen MRI Fusion data, Fox and CNN have a near-identical share of the liberal audience for cable TV news. Last year, for the sixth year in a row, Fox was rated #1 in all of cable news, averaging 1.3 million total day viewers in 2021, compared to CNN at 787,000 and MSNBC at 919,000.

Business & Marketing

May 25, 2022 No Comments

Old is new. Retro is back.

Target is partnering with ThredUP to take advantage of the growing market for used clothes. Click here.

Meanwhile, 80s style leg warmers are bringing in big money on Amazon.

To help entrepreneurs cash in on this craze, the IndieTrackers website recently posted a list of ideas for new businesses. Click here.

Recommended Places

May 25, 2022 No Comments

Izamal, in Mexico’s Yucatan Peninsula

Haven’t been there yet, but it’s on my bucket list.

Izamal, was founded almost 2,000 years ago by the Maya people. Named for Itzam Na, a Maya god of healing and resurrection, it means “dew that falls from the heavens.”

As you can see from the above photo, most of the buildings in the downtown are painted this radiant yellow color. Some say it started as a way to honor the Maya sun god. A more practical theory suggests it’s because the color repels mosquitoes. The truth is… no one really knows how or why this happened.

Things to see in Izamal:

* The bright yellow downtown architecture, of course. Not surprisingly, Izamal is known as la Ciudad Amarilla (the Yellow City).

* Convento de San Antonio de Padua, a 16th century monastery and church. Originally used to convert the Maya people to Catholicism, it is one of the oldest Catholic churches in the Americas.

* Kinich Kakmó Pyramid, one of many Maya ruins in and around Izamal. This one – the largest – is right in the center of the town.

* Centro Cultural y Artesanal, a 16th century mansion that is now a museum.

* Mercado Municipal de Izamal, the local market.

Arts & Letters

May 25, 2022 No Comments

An Infuriated Aretha Franklin Writes to Gossip Columnist Liz Smith

In 1993, at New York City’s Nederlander Theatre, Aretha Franklin joined the likes of Elton John, Gloria Estefan, and Smokey Robinson for an AIDS benefit concert titled “Aretha Franklin: Duets.”

Reviews of the performances were glowing. But in her column, Liz Smith decided to critique Franklin’s attire instead, noting that she “must know she’s too bosomy to wear such clothing, but she just doesn’t care what we think, and that attitude is what separates mere stars from true divas.”

Franklin’s response:

How dare you be so presumptuous as to presume you could know my attitudes with respect to anything other than music. Obviously I have enough of what it takes to wear a bustier and I haven’t had any complaints, I’m sure if you could you would. When you get to be a noted and respected fashion editor please let us all know.

Aretha Franklin

P.S. You are hardly in any position to determine what separates stars from divas since you are neither one or an authority on either.

(Source: Letters of Note)

Worth Quoting

May 25, 2022 No Comments

“Pride is the fire that ignites our ambitions. Humility is the fire screen that keeps us from burning down the house.” – Michael Masterson

A Word to the Wise

May 25, 2022 No Comments

The provenance (PRAH-vuh-nuntz) of a work of art – from the French for “to come from” – is a record of its ownership. It is used to confirm the piece’s authenticity and value. As I used it today: “Suzanne bought this [Morales painting] for a good price from a distressed buyer. It has excellent provenance and is a good size at 40 x 32 inches.”

Readers Write

May 25, 2022 No Comments

Re my concerns about the US economy in the May 13 issue:

“The economic numbers you cited are scary. Have you made any adjustments in your investments in response to them?” – PL

My response: No. I haven’t. Since I favor income over appreciation as a general investing rule, more than 80% of my investments should either keep up with or beat inflation. And half of the other 20% is in precious metals – mostly gold bullion, which will likely increase in value in the coming years.

Postscript

May 25, 2022 No Comments

On “Britain’s Got Talent,” Reuben Gray sings an emotional apology to his girlfriend (who is in the audience)…

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