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RISD’s Next: To Cut Staff & Close Museum for August

via [ The New England Journal of Aesthetic Research

Rhode Island School of Design plans to cut staff by 15 to 20 and close its museum for the month of August because of a significant decline in the Providence school’s endowment, according to the school.

RISD reports that the endowment lost a third of its value since its peak of $347 million in December 2007.

What is happening to the Arts the in the Northeast? Are we seeing evidence that Institutions of Art in the Northeast are over exposed to the OLD Economy? We know that Rhode Island was especially hit hard by the recession and we have heard about Brandeis closing the Rose Art Museum.

It looks like we are beginning to see less demand for NEW ARTISTS, or may be less of new artists from the old economy. Are there any artists of the new economy, yet? If so who are they? May be the New Museum will tell us. What economy are they from?

Categories: General Arts
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