The following announcement was made prior to a recent MSO performance:
"The Milwaukee Symphony Orchestra, currently in its 50th season, plans on being around for at least another 50 years despite the current economic slow down. How is this possible? It is because the MSO’s musicians and staff employees recently made a $1,000,000 donation to the preservation of the MSO."
Actually this “donation” is really a pay cut the musicians agreed to as part of their new contract which goes into effect in August. The 9% salary reduction and reduced pension fund contributions along with the staff cuts removes $960,000 from the 2009-'10 budget.
After hearing this, I’ve been thinking more about my own company’s salary and expense reductions. Like the MSO, my company which has been in business since 1944, has had to go into survival mode. The expense cuts were absolutely necessary to save 115 jobs plus attempt to guarantee our company will also be around for at least another 50 years.