May 7, 1996 |
In response to a barrage of inquiries, Philadelphia Orchestra leaders attempted yesterday to explain to the board, staff and musicians why they had hired a new chief financial officer who had left his last job after being accused of sexual harassment. In meetings with musicians and staffers, orchestra president Joseph H. Kluger defended the hiring of Michael G. McDonough, who, according to sources at the Boston Symphony Orchestra, left his position there after six women made allegations of sexual harassment.
April 17, 2011 |
The Fabulous Philadelphians, the "solid gold Cadillac of orchestras," the internationally revered ensemble built by Stokowski and Ormandy, says it is headed for bankruptcy. The board of the 111-year-old Philadelphia Orchestra voted Saturday in favor of a Chapter 11 reorganization. The claim was expected to be filed this weekend in U.S. Bankruptcy Court, Eastern District of Pennsylvania, and the orchestra was expected to list assets at several times liabilities - an equation unusual for businesses seeking bankruptcy protection, according to several experts.
September 8, 2009 |
The Philadelphia Orchestra's tour of Asia next spring will deepen its China ties with a stop at the 2010 World Expo in Shanghai, the orchestra is set to announce today. Orchestra leaders are in Shanghai, where they expect to participate in a signing ceremony today with officials from the World Expo, the Commonwealth of Pennsylvania, and the U.S. Consulate. The orchestra, which is the first international performing group to be signed, will give its concert in the new Shanghai Expo Performance Center during opening week.
April 16, 2011 |
The board of the 111-year-old Philadelphia Orchestra Saturday voted in favor of Chapter 11, sources say. Papers will be filed within hours or days in U.S. Bankruptcy Court, Eastern District of Pennsylvania, asking for reorganization, according to orchestra leaders. The move makes the Philadelphia Orchestra the first major U.S. ensemble known to file for bankruptcy, according to orchestra industry groups and veteran observers. The orchestra's concerts and business operations continue unfettered.
September 28, 1997
The newest score written for the Philadelphia Orchestra doesn't contain any notes, but it challenges the struggling orchestra to make great music once again. It's a five-year plan that faces up to the orchestra's problems with refreshing candor - a hall short of subscription-ticket holders, less radio exposure (in part, due to WFLN's sad demise), and the still-tender wounds from the musicians' strike. Yet the plan unveiled Thursday at the Academy of Music sets out ambitious goals that, if met, will help secure the orchestra's future.
October 21, 2004 |
Mayor Street yesterday threw his weight into the thorny arena of Philadelphia Orchestra contract negotiations, persuading orchestra leaders in a meeting at City Hall to continue playing concerts through Oct. 31 as talks continue. A 30-day extension of the musicians' contract expired just after midnight last night. The new deadline is 12:01 a.m. Nov. 1. This week's performances will go on as scheduled. City Commerce Director Stephanie W. Naidoff, who is assisting Street, will meet with both sides this morning to begin gathering information for the mayor.
May 9, 1996 |
In an effort to bring its finances under control, the Philadelphia Orchestra will not fill the post of composer in residence and will reduce the amount of money it spends next season on guest conductors and soloists by 5 percent. Orchestra leaders hope that the moves, along with others announced yesterday, will keep the group's deficit this fiscal year to $600,000 to $700,000, and produce a balanced budget for the 1996-97 season. If the plan works, the orchestra, with an annual budget of $27 million, will end this season with an accumulated debt in excess of $2 million, which it would hope to reduce over the following three or four years.
June 25, 2011 |
In a snapshot of its finances, the Philadelphia Orchestra Association claimed $16 million in assets and $700,000 in liabilities in a recent filing attached to its Chapter 11 petition in U.S. Bankruptcy Court. But, pending the outcome of labor negotiations and related legal maneuvers, a very different view of the orchestra's fortunes may emerge in coming weeks. That's because not included in those totals, and unspecified in the filings, are amounts due, or possibly due, to the staff and musicians' pension funds.
June 23, 2011 |
In a snapshot of finances, the Philadelphia Orchestra Association is claiming $16 million in assets and $700,000 in liabilities in a recent filing attached to its chapter 11 petition in U.S. Bankruptcy Court. But, pending the outcome of labor negotiations and related legal maneuvers, a very different view of the orchestra's fortunes may emerge in coming weeks. That's because not included in those totals, and unspecified in the filings, are amounts due, or possibly due, to the staff and musicians' pension funds.
October 22, 2014 |
Since the Philadelphia Orchestra exited bankruptcy more than two years ago, several key financial indicators have brightened. Obligations associated with the orchestra's Chapter 11 settlement have been paid off, income from concerts is growing nicely, and annual fund-raising is improving more than nicely. "It was really a remarkable year," board chairman Richard B. Worley said at Monday's annual meeting of the Philadelphia Orchestra Association at the Kimmel Center. As part of its recovery plan, the orchestra established a "bridge/recovery/transformation" fund, and fans have come to the rescue.