Midwestern Contemporary Art Case Study

The principal problem MCA made was the decision to put down pledges as incomes instead of actually waiting for the money to materialize. It was Keith's radical ambitious plans that resulted to this move and ideally led to the museum almost becoming bankruptcy. Peggy Fischer was elected at the helm of the board at the time when the museum financial soundness was in critical jeopardy. Some members of the board thought taking legal action against the Smiths was the logical thing to do, however, Peggy did not agree as a suit would certainly ruin the longstanding reputation of the museum. This was especially at this time when it was reported that Peter had been diagnosed with cancer which meant that they were facing some financial difficulties of their own. The museum's financial situation could however, not go unnoticed as they would have to shut down...
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