In Wednesday’s (7/27) New York Times, Daniel J. Wakin writes, “The Metropolitan Opera and the union representing choristers, stage managers, dancers and staff directors have reached an agreement on a new three-year contract, officials said on Tuesday. Talks were continuing with the other two major unions at the Met, those representing the stagehands and orchestra. The agreement with the American Guild of Musical Artists, which covers the chorus, was reached in May and ratified on June 19 during the Met’s tour of Japan. Met officials wanted to hold off on the announcement until the other two contracts were settled. … The Met finished this year without a deficit but has an accumulated deficit of $51 million, [Generad Manager Peter] Gelb said. Pension funds are $78 million underfunded, and the endowment is $243 million, more than $100 million off its peak before the recession. ‘We have large financial weights hanging on our backs that we are constantly reminded of,’ he said.”
Posted July 27, 2011
