In Wednesday’s (10/3) Indianapolis Star, Jay Harvey writes, “The new offer made by the Indianapolis Symphony Society to the musicians has one main sticking point: a termination option available at the end of the third year of a five-year contract. As the Star reported Tuesday, the Society proposed a minimum base annual salary of $53,000 in the first year with increases to $70,000 by year five. The schedule would be 38 to 42 weeks, replacing the former 52-week term, and the orchestra size will be set at 74 members. According to the Society, the union has until 6 p.m. Saturday to accept the offer, with the enticement that the full annual salary under the contract will be paid—and health-care benefits reinstated—back to Sept. 3. The society defends the option because it ‘allows the ISO Board and the management to make a stretch offer while not exposing the organization to excessive risk if the ISO is unable to meet the new ambitious fundraising goals.’ Those goals include raising 50 to 100 percent more annual revenue above the $6.5 million in contributed revenue it currently receives.”
Posted October 3, 2012
