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LARRY McGINITY Art As A Derivative II Footsie 100 Squared 2014 Overview In my first series of paintings under the banner Art as a Derivative, I explored the origins and twists and turns of the great unfolding financial crisis that was unleashed on the world in 2007/08. Each of the fourteen paintings that comprised this first series dealt with a specific aspect of the crisis and was made up of hundreds of words of verbatim commentary, news reports and analysis. Art as a Derivative II Footsie 100 Squared is also a research-based project, but the approach is very different. Here my subject is the hundred companies that make up the FTSE 100 index, the top-ranking band of businesses listed on the London Stock Exchange. Sources This new series explores and dissects the very language that we use to describe business activity. But my sources are far from being confined to the worlds of finance and commerce; in fact, I have sought out incongruous and unlikely words and phrases from the sections on sport, fashion, cooking and theatre in newspapers, magazines and journals. I have also made use of key phrases taken from contemporary art journals. The words that I have cut out from these various print sources have not been chosen just for their potential meaning, but for their colour, shape and typography, as throughout this process I have been absolutely cognisant that I am making artworks which have to have balance, rhythm and dynamism. The Dynamic Each selection of wording is precise and deliberate, and strategically positioned to leverage the maximum effect from a small number of cuttings. Their choice is a product of my analysis of each company, so in a sense they are both a psychological profile of each company and of me the artist. As business looks at art for comfort and inspiration, I am looking back at it and making the essence of each company into its own circuit board of interconnected pulses. These artworks are based on my analysis of each company, their products, markets and aims. To get a grasp of where each company has come from, its present activities, difficulties and success, I used many sources, from company reports and corporate videos through stock analysis to financial commentary on specific events, such as acquisitions or mergers. I have also looked at the executive make-up of the boards of all 100 companies, their composition and public personas. Markets and their Indices Through addressing the FTSE 100 in art, I have found a fascinating assortment of emotions and dramatic forces. There is also a deep vein of economic and social history held within it. Almost every imaginable productive activity is represented. Canners, mineral explorers and miners, builders and their suppliers, food providers and financial services are all there and they do what they do, day in and day out against the backdrop of intense competition, developing technologies and the hunt for new and emerging markets. It's an extraordinary grid of interlocking energies stretching around the globe, shipping products and materials, placing investments and providing services to the most remote and inhospitable regions, while also participating at the forefront of the world's capital markets and it's this grid that I have depicted in Art as a Derivative II Footsie 100 Squared. My Technique The method used throughout the series is papier collι collage. The process begins by gluing strips of shredded indices taken from the financial sections of a range of newspapers lists of stocks, investment funds, unit trusts etc and pasting them in interlocking patterns on to 1-foot square boards. These patterns create a financial backdrop as well as the underlying coloration and dynamism of each piece. To the base pattern are added words and phrases specifically chosen to reflect and define each company. These words describe some details about the company, their key activities, and with whom and where they trade. Financial details are also sometimes included, perhaps indicating the direction of the stock price, margin position, debt management or inward investment. I have also indicated where I think problems loom and opportunities present themselves. There are references to key players CEOs, CFOs, COOs and non-executive directors in essence, whatever I have personally found most interesting in each case. Signifiers Then there are the key signifiers words and phrases saying as much about the world we live in and our moral compass as the companies described. They point to the unique qualities that these companies hold for me: their long-term corporate aims and immediate ambitions, and even their failures, anything that in just a few brief words suggests their recent history, direction and unique dynamic. These pieces have been made in real time. Events unfold as each one is being prepared and created. Frequently I have suggested what may be round the corner, a take-over, a merger, a forced resignation, or increased profits or even a warning. Many pieces have been dated by including a dateline from a newspaper and most have the company name. Others have been headed 'Advertising Feature'. In this way Footsie 100 Squared is pointing to the relationship between business and art, for art is quickly subsumed into the world of business. In that sense I should be happy if one of these pieces contains the combination of words that becomes the next hip advertising slogan. This is an ongoing project, with about half the pieces complete. Larry McGinity, Hackney, London, August 2014 2016 Overview Art as a Derivative II Footsie 100 Squared is a research-based project and my subject are the hundred companies that make up the FTSE 100 index, the top-ranking businesses listed on the London Stock Exchange Information My research into each company comes from financial journalism - newspaper articles, televised interviews and corporate websites. To get a grasp of where each company has come from, its present activities, difficulties and success, I also referred to company reports, stock analysis and financial commentary on specific events, such as acquisitions or mergers. I have also looked at the executive make-up of the boards of all 100 companies, their composition and backgrounds. Cut-outs The text I have used in Footsie 100 however are not just derived from the worlds of finance and commerce; in fact, I have sought out incongruous and unlikely words and phrases from the sections on sport, fashion, cooking and theatre in newspapers, magazines and journals. I have also made use of key phrases taken from contemporary art journals. These cuttings have been chosen for their colour, shape and typography, as well as their meaning. I made a stock of about 2000 cut-outs, which I separated into groups such as prepositions or verbs; another for dates and locations, and a much larger one for general terms. In this way, I was able to select the by size, colour or to see how they worked in relation to my other chosen words when laid down on their bases. The Dynamic Initially, my aim had been to compile a database of these cut-out words, but I soon realised that, although it would be much simpler selecting words from alphabetical lists on a screen, I actually needed to maintain visual/physical contact with the printed words right from the outset. Each selection of wording is precise and deliberate, and strategically positioned to lever the maximum effect from a small number of cuttings. Their choice is a product of my analysis of each company, so in a sense they are both a psychological profile of each company and of me the artist. Collage The method used throughout the series is papier collι collage. The process begins by gluing strips of shredded indices taken from the financial sections of a range of newspapers lists of stocks, investment funds, unit trusts etc and pasting them in interlocking patterns on to 1-foot square boards. These patterns create a financial backdrop as well as the underlying coloration and dynamism of each piece. To the base pattern are added words and phrases specifically chosen to reflect and define each company. These words describe some details about the company, their key activities, and with whom and where they trade. Financial details are also sometimes included, perhaps indicating the direction of the stock price, margin position, debt management or inward investment. I have also indicated where I think problems loom and opportunities present themselves. There are references to key players CEOs, CFOs, COOs and non-executive directors in essence, whatever I have personally found most interesting in each case. Advertising & Slogans These pieces have been made in real time. Events affecting companies often took place whilst an artwork was being prepared and created. Frequently I suggested what event might be round the corner, a take-over, a merger, a forced resignation, or increased profits or even a warning. Many pieces contain a newspaper dateline, and most have the company name. Others have been headed 'Advertising Feature'. In this way Footsie 100 Squared is pointing to the relationship between business and art, for art is quickly subsumed into the world of business. On occasions, certain words that I deemed essential to the artwork, such as company names or technical definitions, were just not to be found and I would compose them myself from individual letters. Also, most pieces contain a longer phrase or two and these have been chosen to set an underlying tone to the piece a little like advertising slogans. Recognition & Interpretation For the most part, "reading' or interpreting these artworks is quite straightforward, because words aligned with each other allow the viewer to form a collection of ideas on an aspect of the 'psychological profile' of each business. At times, it may be a case of reading right to left, upside down or backwards. Just So You Know... I have no particular financial expertise, and have neither studied these markets formally nor ever worked as an equities analyst. Any suggestions or insights I proffer or concerns I raise should be seen within this context: an artist viewing the world of trade and commerce on a psychological level, responding to information and events that are in the public domain. Larry McGinity, January 21st, 2016 Footsie 100 Squared more detailed text My fascination with the companies that comprise the FTSE 100, and my response to this stimulus through my art, is primarily an emotional one. I have no particular financial expertise, as I have neither studied these markets formally nor ever worked within finance. Any suggestions or insights I proffer or concerns I raise should be seen within this context: an artist viewing the world of trade and commerce on a psychological level, responding to information and events that are in the public domain. This work on the UK's leading stock index has provided me with the opportunity to further explore the relationship between the language used by business and its multiple and sometimes elusive layers of meaning. This, for me, was always going to be a key element of Footsie 100 Squared. My response to news reports, financial commentary, corporate statements and videos and even stock-ticker that I have watched racing by takes the form of art, since I view the business world as a deep source of inspiration, the motivational force behind this second series of artworks under the Art as a Derivative banner. Through this work I am simply developing one other way in which an artist may view and reflect the material world. Also, it must be stated that I neither hold nor have held any investments in any of the companies, nor do I know any personnel working within them. Word selection: At the beginning of this project I had to familiarise myself with the 100 companies in the index, in order to select the words and short phrases that would be used in the artworks. Of course, I had a fair idea about some of the most well-known names, such as BP, BT or Tesco. But there were very many companies that I had no knowledge of, some whose names, I must confess, I did not even know. It has been one of the most intriguing aspects of making this series to get to know these companies: their range of products and services; where they operate and their aspirations; their trials and the efforts made to overcome them. Thus, most of these pieces contain some words that indicate what each company actually does. Having briefed myself with an overview of the FTSE 100, I began to trawl through newspapers and journals looking at articles on finance, world affairs, contemporary art, travel, cookery, fashion, sport and entertainment. From these I selected and cut out words for their potential use, on the basis that they might be applicable one day for a company profile. Initially, my aim had been to compile a database of these cut-out words, but I soon realised that, although it would be much simpler selecting words from alphabetical lists on a screen, I actually needed to maintain physical contact with the printed words right from the outset. I made a collection of about 2000 cut-outs, which I distributed in a number of boxes, one for prepositions, another for dates and locations, and a much larger one for general terms. In this way, I was able to choose the exact size, colour and typeface I required and see how they worked in relation to my other chosen words when laid down on their bases. Immediately prior to embarking on each artwork, I conducted more detailed research about the specific company under the lens, making use of a range of resources, both print and online. Then, after an initial selection of perhaps 200 of my cut-outs, I would hone them down, after further research, to the 40 to 70 words that I required. On occasions, certain words that I deemed essential to the artwork, such as company names or technical definitions, were just not to be found and I would compose them myself from individual letters. Also, most pieces contain a longer phrase or two and these have been chosen to set an underlying tone to the piece a little like advertising slogans. As the project has progressed, I have continuously sought new words and replenished my stock from an ever-wider source of print material. I have not created the pieces in any particular order, save that, logistically, given the words in my stock, it works best to alternate between finance, mining, service industries and manufacturing. Although of necessity the project is made up of 100 separate pieces, I have always envisioned Footsie 100 Squared as a single artwork composed of 100 united elements, which may in time be separated. For the most part, reading these artworks is quite straightforward, because words aligned with each other allow the viewer to form a collection of ideas on an aspect of the 'psychological profile' of each business. At times, it may be a case of reading right to left, at right angles or backwards. The companies featured so far:
BHP Billiton: mineral exploration
and extraction company
Sports Direct International plc:
sporting retailer
Kingfisher plc: Europe's premier
home improvement retailer
Intu Properties plc: owners and
managers of leading UK shopping centres
Randgold Resources: gold
exploration and extraction company
Schroders plc: asset management
company
St James's Place plc: wealth
management partnership
3i Group plc: multinational
private equity and venture capital company
Wm Morrison Supermarkets plc:
leading supermarket group
AstraZeneca plc: multinational
pharmaceutical and biologics company
Next plc: multinational clothing,
footwear and household products retailer
Hammerson plc: property
development and investment company
Tullow Oil plc: oil and gas
exploration company
Travis Perkins plc: builders'
merchants and home improvement retailer
Aberdeen Asset Management plc:
international investment management group
Shire plc: international
bio-pharmaceutical company
Rexam plc: world-leading canning
(beverages) and packaging company
Burberry Group plc: international
fashion and lifestyle brand
Standard Chartered plc:
multinational banking and financial services company
Barratt Developments plc: UK
residential property developer
Tesco plc: multinational
supermarket group
InterContinental Hotels Group plc:
international hoteliers
Aggreko plc: temporary power
generation company
Persimmon plc: UK housing
developer
Friends Life Group: insurance and
pensions advisors, managers
WWP plc: multinational
advertising, marketing and public relations company
Carnival Corporation & plc:
multinational cruise company
Capita plc: business process
outsourcing
BT Group plc: international
telecommunications services company
HSBC Holdings plc: international
banking group
Diageo plc: multinational
alcoholic beverages producer
Land Securities Group plc:
commercial property and investment company
RBS Group plc: banking and
insurance holding company
Glencore plc: multinational
commodity trading company
Babcock International Group plc:
support services and asset management company
Pearsons plc: multinational
business and educational publisher
Old Mutual plc: international
investment and banking company
Smiths Group plc: diversified
engineering company
ARM Holdings plc: designers of
advanced software and computer chip systems
Anglo-American plc: multinational
mining company
Wolseley plc: building materials
supply and distribution
Hargreaves Lansdown plc:
investment and wealth management services
Reckitt Benckiser plc:
multinational household, hygiene and health products
Sage Group plc: tailored accounts
and logistics software for companies
TUI Travel plc: British leisure
travel group
Ashtead Group plc: industrial
equipment rental
Aviva plc: multinational
insurance, pensions, health and investment company Larry McGinity, 2014 |
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