In the Arts: Syracuse Symphony Declares Bankruptcy
April 8, 2011 | Read Time: 1 minute
Facing $5.5-million in debt and unfunded pension liabilities, the Syracuse Symphony Orchestra announced this week that it will seek bankruptcy protection, The Post-Standard writes.
The orchestra’s board approved the step Tuesday, days after it voted to suspend operations. On Sunday the symphony, which is marking its 50th anniversary, laid off its musicians and all but a skeleton crew of workers.
The symphony’s managers had sought $1.3-million in concessions from musicians for the 2011-12 season.
Jeremy Mastrangelo, a player who sits on the board, said musicians made wage and benefit concessions last summer and were willing to do more but “there was not a willingness to meet us. We were simply told what we would have to take.”
In other arts news:
● New York’s City Opera has suspended plans to announce its fall season as it ponders major cost cuts, including a possible move from its Lincoln Center home, says The Wall Street Journal.(The previous sentence corrects an error that appeared in this item; the opera has not suspended the season.)
Charles Wall, chairman of the organization, said the opera will not schedule any future programs until he and the board review its finances and balance the budget. The organization, with state approval, raided its endowment two years ago to cover expenses and projects a $5-million deficit for this season.
● A longstanding partnership between the philanthropic arm of the insurance company Humana and the Actors Theatre of Louisville has produced one of the country’s premier showcases for new American drama, NPR reports.
The Humana Foundation recently renewed its 32-year sponsorship of the Humana Festival of New American Plays for another three years. It has provided a total of nearly $19-million so far.
