Thursday, January 20, 2011

We interrupt the flood of posts about LA to bring you updates on some local news:

Chloe Veltman writes about the changes at KDFC. The comments are interesting. Both writers are concerned about reception and programming and those are my concerns as well. I'd like to hear more complete pieces and maybe even a weekly opera but I don't want to see the station turned into a vehicle for new music (i.e., music that most of us can't stand on a regular basis.) If all else fails, I've got my huge classical collection to turn to but it has been lovely to work from home, with the radio playing softly in the background.

http://www.artsjournal.com/lies/2011/01/kdfc-goes-non-profit-will-its.html

Judith  Dobrzynski's take on the financial problems at the Asian Art Museum:

http://online.wsj.com/article/SB10001424052748704803604576078214094548054.html


Plus an astute comment from the WSJ website on the article:
Quote from J Dobrzynski's's article, "If they do their job well, they shouldn't have to gamble on high finance. "

Comment from a reader: "But they didn't have to gamble, now did they? In 2000 the debt was fixed-rate and 30-year. The AAM refinanced in '05 not because they had to, but because their financial advisers, J.P. Morgan Chase and MBIA, advised them to. It's a familiar story: the people whose job it was to give them sound financial advice proposed a refinance that looked like it would save them money. When the advice turned out to be unsound, the advisers profited. And the Wall Street Journal scolds them for carelessness."

"Yes, it was stupid to take advice from the people who would profit from their loss. But in the world of a few giants that is high finance, finding a financial adviser who was NOT related to their lender was probably impossible."

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