From a blog post that Sam McPheeters wrote about them:
Anyone living in the bottom quarter of Manhattan in the late 1980’s or early 1990’s is probably familiar with an eerie bit of graffiti that, for a few years, seemed to earmark every building on the lower east side. This Pynchonesque insignia – an inverted martini over a three pronged tally – often accompanied equally cryptic slogans: “Your House Is Mine”, “1988 = 1933”, “The Party’s Over”. In both design and placement, the logo seemed less like the cartoony tags of graffiti gangs than the cryptic markings utilities crews leave each other. These markings meant something.
Having moved to New York in mid 1987, it took me an embarrassing six months to learn that the symbol actually was an upside down cocktail glass, its author the industrial band Missing Foundation. MF claimed the logo as a tool of uglification (“property devaluation”), in a campaign to halt the high downtown rents creeping out towards both rivers. It’s unknown if the tagging ever hindered a single real estate deal; would a true or even prospective New Yorker balk at a spot of spray paint? But as guerilla marketing, it was magic ,the kind emulated by thousands of corporate “street teams” in the years since. For two or three years, Missing Foundation was the scariest band in the city. Their early shows occurred in vacant lots, powered by generators and abandoned, Viet Cong style, at the first whiff of police. In January 1988 the band trashed CBGB, setting fire to its stage and destroying some or most of its sound system. Actual damage, in dollar amounts, has been lost to rumor. As dealers of confusion, Missing Foundation were hard to beat.
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