Wednesday, August 1, 2012

Philadelphia Orchestra emerges from bankruptcy

The music community was shocked when the Philadelphia Orchestra, one of the "big five" declared bankruptcy, owing some $100m in debts, claims, and liabilities. Now, that same orchestra has reorganized, settled its debts, and, hopefully, found a plan that will keep it from financial ruin in the future. The restructuring has included lowering salaries, cutting musicians, and making changes to pension plans.

Read the full article HERE.

No comments:

Post a Comment