Week 94 · October 27, 2015 · NYC · Seoul · Tokyo · London
NYC, Tokyo,
Busy travel week between various negotiations and meeting Sharon for a long-planned trip to London. Going to four of the great cities of the world in a week provides quite a contrast — three cities were similar with nice people and modern facilities but one city was more of a challenge.
More malfeasance was attempted against me and suggested to me in 12 hours in NYC than the prior 2 years combined everywhere else. Maybe it was some reverse culture shock.
In Tokyo, we met a customer as a social call. Japanese trading houses deal in many different industries and at one time they had tried art collecting/trading in the 1990s but ended up “stuck” with paintings and exited the business. In their conference room, they had original art from Manet and Turner. After I was looking and asked about those pictures, the gentlemen took me to another conference room where this picture was displayed — this is a picture of the postcard as photos were not allowed. It is a Botticelli from the 1500s. Not something you see in an office every day…my guess is that investment paid off.
Japanese trading companies (sogo shosha) — firms like Mitsubishi, Mitsui, Sumitomo, and Itochu — are among the world’s most diversified conglomerates, operating across energy, metals, food, chemicals, and finance simultaneously. During Japan’s asset bubble of the late 1980s, Japanese corporations and investors famously acquired significant Western art: Yasuda Fire and Marine Insurance paid $39.9 million for Van Gogh’s Sunflowers in 1987, and Ryoei Saito paid $82.5 million for a Renoir and $78 million for a Van Gogh in 1990 — then world-record prices. When the bubble burst, many companies were indeed “stuck” with art worth far less than purchase price. Those who held through the decades generally recovered, and then some.
Between meetings went to the Senso-ji temple area. Very crowded and like a holiday. But we couldn’t figure out why no Buddha even though we confirmed it was a Buddhist temple.
Had a potentially sad translation issue last week — it was announced in the Monday management meeting that the son of one of our employees had drowned in a diving accident the prior weekend. At lunch all the expats were very sad and we ran into a close friend of the father and we asked what we should do — he said nothing, son got out of the hospital today and would be back at school Tuesday. We were in shock — to “drown” means to take on water. To die from drowning is known as “drowned to death.” Although it was serious enough to put the kid in the hospital, it was a very happy ending.
