TURF WARS: ELI BROAD, SHEPARD FAIREY, AND BANKSY
Debate continues as to whether Los Angeles should lease city-owned land to billionaire Eli Broad for $1 a year, as incentive for Broad to fund construction and operating costs on a public museum housing his art collection. Critics say that taxpayer loss is not worth the gain on what is arguably the most valuable real estate in the city. Meanwhile on the East Coast, Shepard Fairey’s new mural, painted to coincide with “May Day,” the final exhibition at Deitch Projects, was tagged, punctured, and stickered by other street artists almost immediately after it went up on the Lower East Side—despite the big names involved and guards protecting the work. In Melbourne, a graffiti-removal crew accidentally painted over a mural by Banksy from 2003. And, it turns out, Banksy accidentally stole a London band’s name for the title of his documentary, “Exit Through the Gift Shop.” The band agreed to change their name, and in gratitude, Banksy gave them a painting worth over $300,000. Keep reading at ArtWeLove.