Opinion: Column
City must act to salvage Overture
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Also by Eric Schmidt:
- Cap Times living in an industrial fantasy land (July 6, 2009)
- Looking for something to do? Why not announce your County Board run? (June 19, 2009)
- 'In Defense' of a better campus book choice (June 13, 2009)
When I saw “Sweeney Todd” at the
It’s becoming more certain every day that Overture will be one major casualty of this recession. Programming cuts are inevitable. Last year’s operating deficit was nearly $1 million, on top of construction debt — a $28 million deficit Mayor Dave Cieslewicz does not want displaced to taxpayers. Overture’s founder, Jerome Frautschi, has reportedly pledged up to $5 million, but more private donors are needed. Aside from last January’s groveling, ownership has remained secretive about how merciful the banks are. A 2009-10 season is planned, but there remains the looming sense of a well waiting to go dry.
Already the fiscal hawks are shouting to let Overture fail. Many Madisonians don’t really seem to care about the building’s future. The online comments sections of local newspapers are replete with dismissive language. Have these naysayers been to the same place I have? Overture is a stunning arts palace without which
However, taxpayers should not suffer for the Madison Cultural Arts District’s financial blunders. MCAD should not have permitted so much debt to coagulate. All involved in that decision, including City Council members, should be kicking themselves. Mayor Dave was correct to balk at last January’s offer to purchase Overture for “$1.”
But it’s not exactly MCAD’s or the City Council’s fault Overture’s trust funds bit the bullet. Sure, it would have been prudent to pay construction costs while funds were secure. Yet over the past decade, the elites presiding over Wall Street turned our financial markets into the most cryptic, confusing casino around. If you hadn’t known about derivatives markets or credit default swaps or subprime mortgage misuse, you might be excused for delaying debt payment to invest further. No matter who you blame, what matters is where we go from here.
The City of
1) MCAD and the City Council should be transparent about Overture’s financial negotiations. Meetings on Overture should be open to the public. The public will remain aloof and apathetic otherwise. The city should form ad hoc brainstorming committees.
2) Private donors should be sought aggressively. This cannot simply entail Overture pleading with Jerome Frautschi to drain his coffers further. Rather, concerned citizens should make intelligent, thoughtful appeals to affluent businesses and arts lovers throughout
3)
4) And finally,
Eric Schmidt (eschmidt@badgerherald.com) is a senior majoring in political science.
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Thank you to someone finally sticking up for Overture! Overture Center has taken a hearty beating over the years and it’s time to stop. People don’t seem to understand the negative impact it will have on Madison if the Overture Center fails. It’s not just about the building, folks. Think about all of the money it helps bring to our community. Not to mention all of the new construction, restaurants and a downtown that has been revitalized (jobs!). There is a lot at stake here. Yes, I completely agree that mistakes have been made and the financial situation is grave and needs to be addressed. There are a lot of very difficult decisions to be made. But, if you’ve ever lived in a big city, outside of your comfortable Madison bubble, you’ll realize and understand what a wonderful opportunity this building offers to ALL members of our community, and how lucky we are to have it here in a place like Madison. It truly is a gift we should appreciate and support. Before continuing to blindly complain, go there to walk around, see a show, go to Kids in the Rotunda, check out the free art exhibits - and most importantly, finally judge for yourself.
Do you really think that seeing shows and exhibits at Overture is somehow going to sway people’s opinions? Been there, done that. We go to shows there fairly often and guess what? We still don’t support bailing the place out. Madison had plenty of shows and art exhibits in the old Civic Center before Overture was shoved down our throats. You people don’t tell us what the city of Madison should displace in its budget in order to keep Overture afloat. There are tough choices behind your proposal but I suppose as long as you get to see a touring version of Lion King and its ilk that is all that matters (it was just in Milwaukee last year, if you were so desperate).
Despite what 10:49 claims, I’d also argue that Overture’s current affect on State Street is not more jobs, just different ones. A number of classic, unique shops and restaurants have gone away only to be replaced by chains, thanks Overture causing a huge rise in retail rental space. And State Street’s “revitalization” has a whole lot more to do with the city’s recent upgrades than Overture’s presence.
We also went to see Sweeney Todd and it was quite underwhelming. Perhaps the elitist programmers at Overture need to make some concessions too and start booking some concerts/shows that actually draw more diverse audiences. One hint, scheduling Four Bitchin’ Babes year after year after year does not attract a younger, hipper, money spending audience. If you want Overture to be inviting to everyone then wake up and realize you need to be open to different scheduling than what has worked in the past. If this does not sink in then I’ll predict that Overture will make a nice cineplex/mall/library/city hall and I won’t feel any sort of gaping arts hole in my life. I still support the arts by going to the city’s many other options, including University Theater, WUD, Bartell, Broom Street Theater, UW’s performing arts series, etc, etc.
let…it…die
Totally agree with this article. I honestly did not know that many people would allow Overture to fail. I guess the crowd I hang around with appreciates the arts and the incredible facility we are blessed with. 3:42, if you really think that seeing a show at the University Theatre is the same as seeing a show at Overture Hall, then I can only assume you’ve never been to Overture Hall. I’ve also performed there, and I assure you that Madison would not be able to attract nearly the same caliber of performances if all we had to offer was University Theater or Mills Hall. Furthermore, Overture stimulates the surrounding businesses. People go to a restaurant before a show, out for coffee or a drink after a show; they go to shops if they’ve shown up too early. If Overture failed, the rest of the State Street businesses would be soon to follow.
Then maybe surrounding shops on State St. ought to pool their money to keep the Overture Center running.
How about an additional tax on tobacco?
Or a sur-tax on all musicians that make over $80,000 per year?
” If Overture failed, the rest of the State Street businesses would be soon to follow.” Oh 9:03, That is not even close to the truth. Give us facts that back up your wild claim. Apparently, in your world the University population and events, the Capitol, Monona Terrace, Farmers Market, Art Fair, Orpheum, area residents, area businesses, etc, etc have no impact on State Street. Only Overture huh? Puh-leeeze!
And nobody is claiming that a show at University Theater or Broom St. Theater, for that matter, are the same as Overture. But then again, those venues don’t cost anywhere near the small fortune it takes takes to see an Overture show while the difference in satisfaction is negligble. The poster stated that s/he would continue to have a number of Arts options in Madison without Overture’s elitist and pricey offerings. Just because s/he didn’t get all wet over the venue, like you, doesn’t mean they haven’t been there.
“I guess the crowd I hang around with appreciates the arts and the incredible facility we are blessed with.” This is exactly the elitist attitude that is keeping the general public from supporting a bail out. Aren’t you just special for performing there? And aren’t you special for liking the types of shows that Overture books rather than those vile rock shows and amature level perfomrances at ther venues? Would it kill the Overture programmers to actually think about booking some shows that attract it’s hip downtown neighbors rather than over-perfumed, fur-wearing old crones? Or are they truly just reluctant to share their precious venue? I guess we can only be priviliged enough to rub elbows with the elite as long as the elite can dictate what we should enjoy.
There really is nothing for the city or public at large to do until the $28M debt is dealt with. The problem is not going to be solved by fundraising as this editorial suggests, the debt is far too big to be dented with $500 and $1000 donations. No politicians will dare stick the taxpayers with a stock market gambling debt. It’s ultimately going to take one or two very wealthy donors willing to make a dramatic public gesture.
Perhaps the debt will be settled for less than $28M. As grand as the building may be, I can’t see that the building has great commercial value, so the banks have limited leverage in threatening foreclosure. The banks are going to have to eat part of this bad debt.