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In the news
By Times staff writer San Jose Symphony to file for bankruptcyThe San Jose Symphony said it will file for Chapter 11 bankruptcy protection next month. The symphony has been plagued by management and financial troubles and in June symphony officials decided to shut down the 123-year-old orchestra, leaving San Jose, Calif., as the largest U.S. city without a symphony orchestra. The symphony has debts of more than $3-million and its only assets are its sheet music, acoustic shell and office equipment, which even by liberal estimates are only worth $300,000. The bankruptcy filing will let symphony management create a proposal for payment of creditors and continue to manage its assets. Those assets would then be used to form a new symphony. Symphony interim chairman Jay Harris said a new orchestra won't start up until it has at least funding for one year, a reserve for three to six months and a substantial endowment. Li to head film festival juryActor Gong Li, known for graceful and sensitive performances in internationally acclaimed Chinese films, has been selected to head the Venice Film Festival jury. Her films include Red Sorghum, Raise the Red Lantern and Farewell My Concubine. She won the best actress award at the festival in 1992 for Zhang Yimou's The Story of Qiu Ju. The festival will run from Aug. 29 to Sept. 8 in Venice, Italy.
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From the wire |
