2004 – Page 3 – Adaptistration

Axelrod Collection Value Determined By Attitude

Friday, June 29th, 2018Friday, December 17th, 2004 by Drew McManus

The New Jersey Symphony Orchestra released a 66 page report from their Trustee Review Panel regarding the collection of string instruments purchased from Herbert Axelrod. The report will be examined in detail next week, in the meantime, here’s the initial paragraph from the report’s conclusion: “As emphasized earlier, the true value of the instruments for the NJSO lies in the attitude of the Orchestra’s musicians. The psychological boon to the NJSO’s …

What Orchestras Can Learn From Mega Stores

Thursday, December 16th, 2004 by Drew McManus

Fellow AJ blogger, Martha Bayles, published an interesting piece yesterday. It focuses on the mass marketing efforts by two large mega corporations which sell entertainment media: Blockbuster Video and Barnes & Noble booksellers. Martha examines how online and mail order video rental services are taking a noticeable bite out of Blockbuster’s bottom line. One of the reasons she states people are beginning to prefer the alternative source is because the experience …

Virtual Disaster

Wednesday, December 15th, 2004 by Drew McManus

It appears that the cold war between the makers of the Sinfonia virtual orchestra device and representative of New York City Local 802 of the American Federation of Musicians is heating up again, and it’s doing so on the same battleground as before, the Opera Company of Brooklyn. Like most wars that result in an uneasy standoff, this gift as heated up again over the very same issues as last year. …

Fun With Numbers

Tuesday, December 14th, 2004 by Drew McManus

Now that a number of orchestras have released their deficit/surplus information of the 2003-2004 season it is interesting to look at those figures in a different way. For the 03-04 season the following major orchestras break down their losses or gains in the follow manner: Cleveland (deficit) Milwaukee (deficit) Buffalo (deficit) Seattle (surplus) Year $4,250,000.00 $2,900,000.00 $1,100,000.00 $303,000.00 Month $354,166.66 $241,666.66 $83,333.00 $25,250.00 Week $81,730.76 $55,769.23 $21,153.84 $5,826.92 Day $11,643.83 …

What Do You Do With $32 Million You Can’t Deduct?

Monday, December 13th, 2004 by Drew McManus

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The latest chapter in the “Made for T.V.” saga that is the Herbert Axelrod scandal was his pleading guilty last week to helping a former employee file a fraudulent federal tax return.

As part of that guilty plea Axelrod must file a 2003 tax form but is not allowed to claim a $32 million deduction for his collection of string instruments he sold to the New Jersey Symphony Orchestra. The $32 million figure is the difference the $49 million Axelrod claims the instruments were worth and the $17 million he sold them for.

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