In Monday’s (10/8) Indianapolis Business Journal, Dan Human writes, “Indianapolis Symphony Orchestra musicians’ contract negotiations remain stalled and another week of concerts has been canceled after a Saturday deadline passed with no resolution. ISO executives and American Federation of Musicians Local 3 negotiators have agreed to many of the financial details in a potential five-year agreement that management announced last week, but they’re stuck on a clause that would allow early contract termination. Musicians had until Saturday evening to decide on the offer. As part of an agreement in principle, musicians would accept a 32-percent pay cut in the first year of the pact. Starting salaries would drop from $78,000 to $53,000. Pay then would increase every year, reaching $70,000 in year five. At issue is a management-proposed clause that would allow either side to cancel the contract after the third year. … ISO leaders last week outlined much more aggressive fundraising goals: $9.8 million in the contract’s first year, $9.7 million the second year, $11 million the third year, $11.7 million the fourth year, and $12.6 the fifth year. If the symphony collects $5 million by March 31, 2013, management said it will remove the escape clause from the contract.”
Posted October 10, 2012
