Philadelphia Orchestra Board Members Threaten Players With Bankruptcy

Some board members, pushing for a 20% cut in musicians’ base pay, have intermittently threatened Chapter 11 bankruptcy – even though, while the PhilOrch has been running consistent deficits, it currently has no long-term debt and an endowment of well over $100 million. (Over the 15 years since the Philadelphians’ bitter 1996 strike, the musicians’ base salary has risen by more than 60%.)