Ponzi

Comments by Ponzi

Opera president denies ugliest rumors

There is something very strange about the decision to wind-up the opera. They want to avoid a bankruptcy to save face? You avoid a bankruptcy to keep the trustee and accountants from reviewing the books for unlawful transfers and malfeasance. What fear is there of charging on even in the face of a bankruptcy? The San Diego Symphony did not fold. They charged on until they could not pay the bills. If companies used the logic of ““better get out before it’s too late” I would guess that 25% of businesses in San Diego could rationalize closing. That is not leadership, it is defeat without even fighting. So who would be the biggest creditors in a San Diego Opera bankruptcy? Looks like the top creditors would be the Campbell duo and the city for the rent. Since one of the potential the biggest creditors also serves on the board, which seems like a colossal conflict of interest. The Campbell’s should be working at the pleasure of the board of directors, not serving on it. That is just my opinion. I know little about how art companies operate, but I do now when a fox should not be guarding the chicken coop. In a private or public, for-profit companies, executives often serve on the board of directors. However they usually are founders or major investors in the concern. Non-profits or organizations that do not have shareholders should have a separation of powers for those who are on the board overseeing the concern and those who are on the payroll, executives and so forth.
— March 28, 2014 8:47 a.m.