Re: Re: Re: Re: From Today's NYTimes


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Posted by Jason Ladd on May 15, 2003 at 08:32:50:

In Reply to: Re: Re: Re: From Today's NYTimes posted by Rick Denney on May 14, 2003 at 17:50:35:

From what I have read I believe that orchestras have been too dependent on revenues from their endowment. Since the market was doing so well in the 1990s, many orchestras invested their money into the stock market, using money from dividends and from gains in investment for their expenses. Now that the market is not doing so well they are losing their endowments. (ie. Pittsburgh's endowment from $132 million to $90 million)


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