The Philadelphia Orchestra's Bankruptcy Filing
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The Philadelphia Orchestra’s Bankruptcy Filing
By Ivan Katz
The decision by the Philadelphia Orchestra Association to file for reorganization under Chapter 11 of the Bankruptcy Code may well turn out to be one of the most bone-headed business judgments ever made by a major American arts organization. It is already one of the most deplorable.
In a recent letter to the editor, the vice president for financial affairs of St. Joseph’s University stated his view that the board of the Philadelphia Orchestra Association is “made up of some of the brightest minds in the business community.” This does not reflect well either on the sagacity of the officials at St. Joseph’s University or on the quality of what passes for bright minds in
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[Click to read Bankruptcy Document (PDF)]
Related reading:
Philadelphia Orchestra Board Approves Chapter 11 Bankruptcy Filing
The Huffington Post (16 April 11)
