Archive - September 23, 2009

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Debt is dangerous stuff
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Doing business with the Met
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Another orchestra for Lincoln Center

Debt is dangerous stuff

It appears that nonprofits have been emulating for-profit enterprises in some of the wrong ways: Far from being conservative stewards of their assets, many nonprofits engaged in what some experts call risky financial behavior. “They did auction-rate securities, interest-rate arbitrage, complex swaps — which backfired on them the same way it would backfire on any[…]

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Doing business with the Met

Buried in a long piece in the New York Times on the “new Met” were the following tidbits: Since Mr. Gelb took over, the Met budget has increased by about $60 million. The box office is up, but meanwhile personal and corporate donations, which the Met depends on to balance its budget, are down, thanks[…]

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Another orchestra for Lincoln Center

In ICSOM/AFM/Local 802 circles, the New York Philharmonic, Met Opera orchestra, NYC Opera orchestra, and NYC Ballet orchestra are known collectively as the “Lincoln Center orchestras” for obvious reasons. It appears that they’re about to have some company: Call it Cleveland on the Hudson: The Cleveland Orchestra is setting up a multiyear residency at the[…]

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