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Symphony CEO and President Alan Valentine told The Tennessean on Friday that the organization needs a "comprehensive financial restructuring."
The symphony's board of directors sent a letter to patrons Wednesday saying have decided to take action that will lead to a technical default on the bonds for the center that opened in 2006. The decision led to a notice that $88.3 million in outstanding bonds are subject to a mandatory repurchase next month. The symphony and the banks could agree before then on more favorable terms.
Kevin Crumbo, a board member and treasurer for the orchestra, says bondholders will be paid.
Valentine says the long-term future of the symphony is uncertain.
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Saturday, March 16 2013, 04:03 PM CDT
2 appellate court judges are stepping down
May 24, 2013 21:29 GMT
NASHVILLE, Tenn. (AP) -- Two Tennessee appellate court judges have notified Gov. Bill Haslam that they will not run for another term on the bench in the August 2014 retention election.
Patricia J. Cottrell, a judge on the Court of Appeals, and Joseph M. Tipton, who sits on the Court of Criminal Appeals bench, will both leave after September of next year.
The announcements come after the state legislature left Tennessee without a way to replace judges who step down or die when a commission expires at the end of next month.
Members of the soon-to-be-defunct Judicial Nominating Commission will make recommendations for replacements to give to Haslam before the panel expires. Haslam will appoint the replacements from those recommendations.
US durable goods orders rise 3.3 percent in April
WASHINGTON (AP) -- U.S. orders for long-lasting manufactured goods rebounded in April, buoyed by more demand for military and civilian aircraft and an increase in business investment.
BC-US--Dow Record-Three Personal Stories, 1st Ld-Writethru,1173
Dow Record: Three tales of ups, downs and changes
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By SCOTT MAYEROWITZ
AP Business Writer
NEW YORK (AP) -- When the Dow first crossed 14,000, investors were overjoyed. ...
IN THE NEWS: RESTAURANT FLAP LEADS TO INTERNET MELTDOWN
SCOTTSDALE, Ariz. (AP) -- It isn't exactly to curry favor with your restaurant customers -- even if your specialty isn't curry.