Posted by Grim Reaper on May 12, 2003 at 07:05:27:
ORCHESTRAS IN TROUBLE
Ft. Lauderdale Sun-Sentinel
May 11, 2003
Louisville: Musicians filed for unemployment benefits in early May; the
orchestra has an $800,000 deficit and musicians haven't been paid since
April 15.
San Antonio Symphony: Began missing payrolls in January. Suspended
operations May 3 amid talk of rebuilding with a smaller, part-time
orchestra and shorter season.
Houston Symphony: Resumed its season in April after a monthlong
musicians' strike. Although the union accepted flat salaries, unpaid
furloughs and a reduction in the number of players, the orchestra still
projected a $3 million deficit for the fiscal year ending May 31.
Pittsburgh Symphony: Facing a seasonal loss of $1.5 million and the
erosion of its endowment from $132 million to $90 million, the symphony
put its home, Heinz Hall, up for sale for $40 million in April.
Florida: Executive director Leonard Stone in Tampa announced a $1
million fund-raising campaign in April to balance the budget, just after
the hiring of a music director and associate conductor.
Charleston Symphony: Facing a $500,000 shortfall in its $2.5 million
budget, the orchestra in April asked musicians to take pay cuts to avoid
closing.
Baltimore Symphony: In April, musicians accepted a wage freeze and
financial concessions to save the orchestra $3 million.
Oregon Symphony: Cut five staff positions and reduced office salaries by
up to 10 percent in April to help reduce a $2.4 million budget
shortfall.
New York Philharmonic: Issued an emergency appeal in April to raise $1
million to balance its budget.
Rochester Philharmonic: With a $225,000 biweekly payroll and $5,000 in
the bank at the end of March, the orchestra got musicians to agree to
give up a week's pay and the board to donate an immediate $150,000, and
launched a fund-raising campaign to avoid a projected $900,000 annual
shortfall.
Colorado Springs Symphony: Facing more than $1 million in debt, the
75-year-old ensemble suspended operations in December. A bankruptcy
court voided the musicians' contract in February.
Savannah Symphony: Ran out of money to make payroll in January,
suspended operations and filed for Chapter 7 bankruptcy.
Tulsa Philharmonic: Ceased operations in September, claiming a new
musicians' contract was the last straw in worsening financial
conditions.
San Jose Symphony: With $300,000 in assets and $3.4 million in debt, the
123-year-old institution shut down last June and went to bankruptcy
court.
Chicago Symphony: Although this year's budget is expected to balance,
sales and donations are off, the endowment is shrinking and a $5 million
deficit could explode in the coming season.
- Compiled By Jack Zink