Word: millions
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Dates: during 1960-1969
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...five orchestras-New York, Boston, Philadelphia, Cleveland and Chicago-by the management-consultant firm of McKinsey & Co. Because rocketing costs -most notably, sharply increased salary scales-have not been met by a similar gain in income, the orchestras' combined annual operating deficit rose from $2.9 million in 1964 to $5.7 million in 1968. The loss will soar to $8,000,000 by the 1971-72 season unless drastic steps are taken...
...from the big corporations is now going into the ghettos. As for private donors, explains the Los Angeles Philharmonic's Zubin Mehta, the same reliable philanthropists also give to museums, hospitals and universities, and they have just about reached the limit of giving. Foundation money, like the $80.2 million that Ford gave to 61 orchestras in 1966, must be matched by orchestra-raised funds; many of the symphonies have not yet found the donations to qualify for such grants. "Every year our expenses go up," says Mehta, "but the donations remain the same...
...success formula of the former Minneapolis Symphony. In 1966, at the time of its $2,000,000 Ford grant, a study was made of anticipated income and costs for the next five years. The directors decided that by 1971 the symphony needed to raise a minimum of $10 million, if it was to have a chance of coming out on top. But how? First, the organization's name was changed to the Minnesota Orchestra. More than just a semantic gimmick, that symbolized the orchestra's intention to become regional rather than a municipal enterprise. As a result...
...response to criticism from the Committee on Back Contamination, a group of scientists representing a variety of federal agencies, NASA has improved the complex quarantine procedures in Houston's $15.8 million Lunar Receiving Laboratory (TIME, Dec. 29, 1967), where the returned astronauts and their lunar samples will spend most of their three-week isolation period. The space agency has also taken makeshift measures to plug a major gap in the quarantine defenses: the post-splashdown exposure of the Apollo cabin atmosphere and the astronauts themselves in the earth's environment...
...Ellman decided to expand. For $250,000 he bought control of Longchamps, a New York restaurant chain. He incorporated the Cattleman into the chain, and began buying other restaurants, concentrating on decor. His catering empire now includes 115 restaurants in seven states, and will gross an estimated $75 million this year...