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Buddy, can you spare $60 or $70 million? Board departures cast shadow on Petersen anniversary.(News)(Petersen Automotive Museum)(Brief Article)
Byline: MARK VAUGHN
Why have two board members of the Petersen Automotive Museum in Los Angeles resigned, and why is a third member rumored to be considering throwing in the car keys?
Because publishing magnate Robert E. "Pete'' Petersen holds the museum's future in his hands and checkbook. Petersen has donated $35 million to his namesake museum and he and his wife Margie continue to make significant contributions. The problem is the contributions aren't coming in the one big chunk that the board members would like to establish an endowment and allow an expansion of the museum to finally go through.
The two resigned board members, Bruce Meyer and Peter Mullin, along with board-member-as-of-presstime David Sydorick, reportedly presented a plan that would have established a $60-million to $70-million endowment. The problem is that a good portion of money would come from billionaire Petersen.
Petersen reportedly has a plan of his own, but he hasn't told anyone what it is or when it will get in gear. Through a spokesman, ...
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