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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
Pipeline work can continue at state natural area
May 24, 2013 11:16 GMT
NASHVILLE, Tenn. (AP) -- Tennessee environmental officials have given Piedmont Natural Gas permission to resume drilling on a Nashville pipeline project.
Work was halted on May 11 when a mixture of bentonite clay and water spilled from a drill into Otter Creek at the Radnor Lake State Natural Area.
The mud was later scraped out of the creek using buckets and hand tools.
Meredith Benton, a spokeswoman for the Tennessee Department of Environment and Conservation, told The Tennessean (http://tnne.ws/199LA54 ) that Piedmont agreed to 11 new terms and conditions to prevent a recurrence of the spill.
Those include creating a pit to capture any spilled slurry and daily water quality monitoring.
Benton said the department has not decided whether to issue fines or citations.
Information from: The Tennessean, http://www.tennessean.com
Asia stocks extend losses after big sell-off
BANGKOK (AP) -- Asian stocks continued to retreat today after being routed the day before by unexpectedly weak Chinese manufacturing and fears the Federal Reserve will start withdrawing its monetary stimulus.
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.