Steve Wynn's elbow

The story of how the casino mogul blew $140 million because his elbow ripped into Picasso's "Le Rêve" is making the rounds today. The New Yorker carries an account of the rip and Nora Ephron, who witnessed the whole thing, has her much longer version on the Huffington Post. Wynn was about to sell the portrait of Picasso's mistress, Marie-Thérèse Walter, to hedge-fund king Steven Cohen. (And just to give you an idea of how great art appreciates, Wynn had bought the painting in 2001 from an anonymous collector who bought it in 1997 for $48.4 million. Hey, it's only money, right?) Wynn told Ephron and some other friends visiting him in Vegas about the sale. And then....


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Another rugged quarter for Tribune Co. papers
How does Stanford compete with the big boys?
Those awful infographics that promise to explain and only distort
Best to low-ball today's employment report
Further fallout from airport shootings
Crazy opening for Twitter*
Should Twitter be valued at $18 billion?
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Mark Lacter
Mark Lacter created the LA Biz Observed blog in 2006. He posted until the day before his death on Nov. 13, 2013.
 
Mark Lacter, business writer and editor was 59
The multi-talented Mark Lacter
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