Business
After a Showdown, Juilliard’s President Retains Support of Board
When the charismatic former New York Metropolis Ballet star Damian Woetzel was named president of the distinguished Juilliard Faculty in 2017, the varsity’s highly effective chairman, Bruce Kovner, praised his “uncommon combine” of mental and creative qualities.
However earlier this yr Kovner advised Woetzel that an inside analysis had discovered a insecurity in his management and requested him to resign by the top of June, a yr earlier than the top of his contract, in accordance with a letter Woetzel despatched to the varsity’s trustees that was obtained by The New York Occasions.
Woetzel fought again and succeeded in rallying assist behind him, getting testimonials from a number of eminent artists together with the trumpeter and composer Wynton Marsalis, who directs Juilliard’s jazz program, and the pianist Emanuel Ax, a number one member of the school. And he wrote in his letter to trustees that the efficiency evaluation “was extraordinary and extremely inconsistent with finest apply in nonprofit governance — it was conceived, initiated and managed by our board chairman.”
Issues got here to a head at a board assembly final month. The trustees, when knowledgeable of the analysis and Kovner’s advice that Woetzel be eased out, declined to take action. Kovner, lengthy the varsity’s largest benefactor, is planning to step down this June after 22 years as its chairman, a transfer that one affiliate stated had lengthy been deliberate.
Kovner declined to remark, and Juilliard offered a press release from the board to The New York Occasions through which it stated that “at its most up-to-date assembly, the board strongly reaffirmed its assist for President Damian Woetzel” and the 10-year strategic plan that the varsity created in 2019.
The assertion stated that the board was “unwavering in its concentrate on the perfect pursuits of the scholars of the Juilliard Faculty, and stays dedicated to supporting the varsity’s distinctive school, employees and administration.”
Some noticed the battle as a uncommon energy wrestle between two outstanding figures within the cultural world, a showdown between previous guard and new blood.
Given Kovner’s immense affect as Juilliard’s largest patron — and as an vital determine at Lincoln Middle, Juilliard’s residence, the place he serves on the board and has given giant sums — some have been shocked to see Woetzel prevail. One trustee likened it to a David and Goliath story.
Woetzel, 54 — who earned a grasp’s diploma in public administration from the John F. Kennedy Faculty of Authorities at Harvard whereas nonetheless dancing — has constructed a nationwide status, having directed the Aspen Institute Arts Program and the Vail Worldwide Dance Competition and served on President Barack Obama’s Committee on the Arts and Humanities.
Kovner, 75, whose internet value Forbes estimates at $6.2 billion, has been one thing of a everlasting authorities at Juilliard, having served as chairman for an unusually very long time. Along with his spouse, Suzie, Kovner’s presents have included $25 million towards a brand new wing and scholarships in 2005; a trove of valuable music manuscripts in 2006; $20 million for the early music program in 2012; and $60 million for a brand new scholarship program in 2013.
At Lincoln Middle, Kovner was one of many largest donors to the redevelopment of the performing arts complicated, serves on the board of the Metropolitan Opera and was previously a trustee of the New York Philharmonic.
The standoff posed a problem for the board and the varsity, provided that Kovner’s ongoing assist of Juilliard stays essential.
Woetzel’s analysis was despatched to 49 members of the school and employees — together with each division head and 18 direct studies — 43 of whom responded to it anonymously. There are about 700 full-time and part-time members of Juilliard’s school and employees.
The evaluation was designed and carried out by Kovner and J. Christopher Kojima, a vice chairman, Woetzel’s letter to the board stated. His letter stated that it was “not carried out at an arm’s size distance by an impartial social gathering as is finest apply for nonprofit establishments of our scale.”
The responses included 143 feedback, greater than three-quarters of which have been destructive, in accordance with somebody aware of a abstract of the report who was granted anonymity to explain this delicate personnel matter.
The suggestions amounted to a number of key criticisms, in accordance with the abstract, which was described to The Occasions: that Woetzel targeted on efficiency as an alternative of schooling; had weak administrative management; did not seek the advice of school members on key choices; and created an environment of worry and intimidation.
A query about confidence in Juilliard’s future met with a destructive response from greater than half of those that responded, in accordance with the individual aware of the abstract.
On Jan. 27, Woetzel was requested to go away, in accordance with his letter to the board.
“Bruce Kovner communicated — on behalf of the Government Committee — that my service as president could be terminated previous to the top of my contract, and that the choice was ‘irrevocable,’” Woetzel wrote within the letter to trustees.
“Having communicated to me this intent to terminate,” the letter stated, “Bruce then emailed me a suggestion of a severance package deal that would come with a collectively crafted assertion that might create a false narrative that I used to be resigning as of June thirtieth.”
The letter gave Woetzel 96 hours to reply. He determined to not resign.
On Feb. 4, Kovner despatched the outcomes of the analysis to the total board, saying the findings have been regarding and could be mentioned on the recurrently scheduled board assembly 4 days later.
Woetzel marshaled assist from plenty of outstanding artists and colleagues, who despatched letters to the board prematurely of the assembly.
“Damian has a file of excellence in his management of the varsity, particularly throughout two pandemic years and these deeply troubling social, political and monetary occasions which have modified the social panorama of America,” Marsalis wrote in his letter, obtained by The Occasions. “He has been engaged with college students, school and board in trying to create a contemporary establishment that’s nimble and in a position to deal with the very actual issues of scholars and alumni all over the world.”
“I really feel how we’re going about this brings our ethics into query,” Marsalis continued. “This try to take away him appears to be poorly thought out, poorly executed, and it’ll place a stain on our establishment that even our love of assets and fragile spirit won’t simply take away.”
The trombone participant Weston Sprott, who’s the dean of Juilliard’s Preparatory Division, warned in an e mail to Ax, an influential school member, that “a call to terminate Damian will likely be extremely dangerous to the establishment.”
“Within the midst of managing the bumps and bruises that could possibly be anticipated in navigating the nationwide reckoning concerning racial injustice,” Sprott continued, “Damian has put collectively maybe probably the most various, inclusive and profitable management staff in our business — one that’s revered by college students and college and is the envy of its rivals.”
Kovner and the manager committee anticipate Woetzel to deal with the issues raised within the analysis with exterior coaches and underneath the steering of the trustee Reginald Van Lee, a former administration marketing consultant, in accordance with the individual aware of the abstract. However one trustee stated no such plan of action has been determined by the total board.
Woetzel began out as an unconventional alternative for Juilliard, having by no means labored in tutorial administration, not to mention at one of many world’s main performing arts faculties, which on the time of his appointment had a $110 million annual price range, a $1 billion endowment, and greater than 800 college students.
At Juilliard, Woetzel has made a number of noteworthy advances, securing a $50 million present to develop the varsity’s weekend coaching program aimed largely at Black and Latino schoolchildren; filling a number of key positions; and guiding the varsity by the difficult two years of the pandemic.
However he has additionally had bumps alongside the best way. After a drama workshop on the faculty involving the re-enactment of a slave public sale prompted an outcry, Woetzel issued a “heartfelt apology” in a observe to the group.
Final June, college students protested a deliberate tuition improve, occupying components of Juilliard’s Lincoln Middle campus and holding avenue demonstrations. (A number of different main music and drama faculties provide free tuition.)
Kovner, who made his fortune as a hedge fund supervisor, has contributed extensively to conservative causes and has served on the boards of the American Enterprise Institute and the Manhattan Institute, each right-leaning assume tanks. Final Could, Metropolis Journal, which is printed by the Manhattan Institute, criticized what it described as the varsity’s “rising cadre of variety bureaucrats” in an article headlined “The Revolution Involves Juilliard: Racial hysteria is consuming the varsity; unchecked, it’ll devour the humanities.”
Kovner has additionally supported left-leaning organizations, together with the Innocence Challenge, which goals to free the wrongfully convicted; and Lambda Authorized, dedicated to civil rights for lesbian, homosexual, bisexual and transgender folks.
Now Juilliard is making ready for the subsequent chapter. This week the varsity’s Duke Ellington Ensemble was scheduled to carry out a celebration of the twentieth anniversary of Juilliard Jazz on the Chelsea Manufacturing unit, a brand new arts area.
The Justice Department accuses Visa of unfairly stifling competition in debit cards, claiming the company has maintained a monopoly by imposing or threatening to impose higher fees on merchants that also use other payment networks.
Read more ›
President Biden’s top antitrust enforcers have promised to sue monopolies and block big mergers — a cornerstone of the administration’s economic agenda to restore competition to the economy.
Below are 15 major cases brought by the Justice Department and Federal Trade Commission since late 2020 (including cases against Google and Meta initially filed during the Trump administration just before Mr. Biden took office).
The government has won several but not all the cases. And with only a few months remaining for the current administration, the number of suits is climbing, as regulators go after dominant companies in tech, pharmaceuticals, finance and even groceries.
In a lawsuit, the D.O.J. said that more than 60 percent of debit transactions in the United States run on Visa’s network, allowing it to charge over $7 billion in fees each year for processing those transactions. Government lawyers argued that Visa penalizes its customers when they try to use competing services and that it has built a monopoly around payment processing.
The Justice Department accuses Visa of unfairly stifling competition in debit cards, claiming the company has maintained a monopoly by imposing or threatening to impose higher fees on merchants that also use other payment networks.
Read more › The F.T.C. accused three big prescription drug middlemen, known as pharmacy benefits managers, of artificially raising prices for insulin drugs and making it harder for individuals to obtain cheaper options. The legal action targeted CVS Health’s Caremark, Cigna’s Express Scripts and UnitedHealth’s Optum Rx and subsidiaries they’ve created to handle drug negotiations. The three companies collectively control 80 percent of prescriptions in the United States.
The F.T.C. files an administrative complaint, which is not yet public, that seeks to prohibit pharmacy benefit managers from steering patients to drugs that make them more money.
Read more › The F.T.C. sued to block Kroger’s $24.6 billion acquisiton of Albertsons, which, if allowed to proceed, would be the biggest supermarket merger in U.S. history. The companies said the merger would bolster their leverage with suppliers; the government contended that it would drive up prices for shoppers and suppress worker wages.
The hearing, a mini-trial, lasts just over three weeks. The judge in the case has yet to issue a decision.
The trial begins in Oregon, where both grocery companies have a significant presence. The case enters the spotlight as high food prices become a critical focus in the presidential race.
Read more ›
The F.T.C. and eight states, plus the District of Columbia, sue to block Kroger from acquiring rival supermarket chain Albertsons. They say the deal would most likely result in higher prices for groceries and weakened bargaining power for unionized workers.
Read more › The D.O.J. alleged Google harmed competition over the technology used to place advertising on web sites. The department and eight states said Google acquired rivals through anticompetitive mergers and bullied publishers and advertisers into using the company’s ad technology.
The trial is expected to take about a month. The government has asked for a breakup of the company, requiring Google to sell off some assets.
Read more › The Justice Department and a group of eight states accuse Google of abusing a monopoly over the technology that powers online advertising.
Read more › The D.O.J. and a group of states sued Google, saying its role in about 90 percent of all internet searches made it a monopoly. The lawsuit, which was filed in the final days of the Trump administration, alleged Google uses exclusive contracts with phone makers like Apple and other companies to feature Google search on their devices, making it harder for consumers to use rival search engines like Bing or DuckDuckGo.
In a 277-page ruling, a federal judge calls Google a monopolist and says it has acted illegally to maintain that monopoly. A trial to determine remedies is set to begin in 2025.
Read more › The chief executive of Google’s parent company, Sundar Pichai, counters the government’s narrative in testimony that describes Google’s deals with other tech companies as having been in the best interest of consumers.
Read more ›
As a trial begins, Satya Nadella, the chief executive of Microsoft, becomes the government’s highest-profile witness in the case when he testifies that even his company has found it difficult to compete with Google’s search products.
Read more › The Justice Department accuses Google of maintaining its monopoly over search and search advertising, crowding out competition through exclusive business contracts.
Read more › An F.T.C. lawsuit sought to block Tapestry’s $8.5 billion acquisition of Capri, a blockbuster fashion tie-up to bring together Coach, Kate Spade, Michael Kors and Versace. The suit was a rare move by the agency to block a fashion deal, given that the industry does not suffer from a lack of competition.
A hearing, which effectively serves as a mini-trial, begins over whether the government should put a halt to the deal while the F.T.C. can mount a case against the merger.
The F.T.C. sues to block a merger of two fashion companies, Tapestry and Capri Holdings, that would bring together brands like Coach, Michael Kors and Kate Spade. The agency says the deal could force millions of consumers to pay more for “accessible luxury” accessories — less expensive goods sold by high-end firms — because the combined company would no longer have the incentive to compete on price.
Read more › An antitrust lawsuit filed by the D.O.J. and several states against RealPage, a real estate software company, said its technology enabled landlords to collude to raise rents across the country. It was the first major civil antitrust lawsuit to centrally feature the role of an algorithm in pricing manipulation, D.O.J. officials said.
In its complaint, the Justice Department accuses RealPage of enabling a price-fixing conspiracy that artificially raised rents for millions of people.
Read more › The D.O.J. accused Apple of using a monopoly in the smartphone market to stifle competition and inflate prices for consumers. In its suit, the department said Apple blocked companies from offering apps that competed with Apple versions, including Messages and Wallet.
Apple files a motion to dismiss the case, saying its business decisions didn’t violate antitrust laws. It has argued that those decisions make the iPhone a better experience.
The Justice Department and 16 states, plus the District of Columbia, file a challenge to the reach and influence of Apple, arguing that the company has used anticompetitive tactics to keep customers reliant on their iPhones.
Read more › Live Nation Entertainment, the concert giant that owns Ticketmaster, stands accused of illegally maintaining a monopoly in the live entertainment industry. The D.O.J. said Ticketmaster provided exclusive ticketing contracts with concert venues, which helped Live Nation shore up its dominance, depriving consumers of better prices and options.
The Justice Department, joined by 29 states and the District of Columbia, accuses Live Nation of leveraging its sprawling empire to dominate the live music industry by locking venues into exclusive ticketing contracts, pressuring artists to use its services and threatening its rivals with financial retribution.
Read more › A merger between JetBlue and Spirit, which would have created the fifth-largest airline in the United States, was blocked by a federal judge after a D.O.J. challenge. Government lawyers argued that smaller, low-cost airlines like Spirit helped reduce fares and that allowing the company to be acquired by JetBlue, which tends to charge higher prices than Spirit, would have hurt consumers.
JetBlue and Spirit announce that they will not seek to overturn a court ruling that blocked their planned $3.8 billion merger.
Read more › In a 109-page ruling siding with the government, the judge in the case says the merger would “likely incentivize JetBlue further to abandon its roots as a maverick, low-cost carrier.”
Read more ›
The Justice Department files a lawsuit seeking to stop JetBlue Airways from buying Spirit Airlines, arguing that the $3.8 billion deal would reduce competition.
Read more › A lawsuit filed by the F.T.C. and 17 states against Amazon accused the retail behemoth of squeezing merchants and favoring its own competing brands and services over third-party sellers. A trial date is set for 2026.
Amazon asks the court to dismiss the suit, arguing that the F.T.C. failed to identify the harm consumers were experiencing. It says the agency confused “common retail practices” with monopolistic behavior.
The F.T.C. and 17 states sue Amazon, contending its online store and merchant services illegally stifle competition. The lawsuit that raises the possibility of altering the company’s structure.
Read more › The F.T.C. sued to block Microsoft’s $69 billion acquisition of Activision Blizzard, which, if allowed to proceed, would be the largest consumer tech acquisition since AOL bought Time Warner more than two decades ago. The case follows scrutiny of the deal by regulators in Europe. Microsoft makes the consoles and platforms on which Activision’s games are played, and the merger of two companies that don’t directly compete is known as a vertical merger. Cases against vertical mergers have traditionally been difficult to win.
Microsoft says it has closed its deal with Activision Blizzard, signaling that the tech industry’s giants are still free to use their cash hoards to get even bigger.
Read more › In a 53-page decision, a judge says the F.T.C. has failed to show the merger would result in a substantial reduction in competition that would harm consumers.
Read more › The F.T.C. seeks a preliminary injunction to bar Microsoft from completing the deal before the F.T.C. has the chance to argue the case in its internal court. Microsoft argues a delay would essentially be killing the deal anyway.
Read more › In its suit, the F.T.C. says Microsoft’s proposed acquisition of Activision Blizzard would harm consumers because Microsoft could use Activision’s blockbuster games like Call of Duty to lure gamers from rivals.
Read more › The Justice Department sought to block a proposed merger between the largest publisher in the United States and a key rival.
In an order, a judge says that the government has demonstrated that the merger might “substantially” harm competition in the market for U.S. publishing rights to anticipated top-selling books.
Read more › The D.O.J. sued to block UnitedHealth Group’s $13 billion acquisition of health technology company Change Healthcare, arguing that a deal would give UnitedHealth sensitive data that it could wield against its competitors in the insurance business.
After a trial over the summer, a judge says in a 58-page memo that UnitedHealth’s incentives to protect customer data as it grows its businesses outweigh motivations to misuse the information.
In a lawsuit, the Justice Department argues UnitedHealth Group’s deal to acquire Change Healthcare, a health technology company, would give the giant insurer access to sensitive data that it could wield against its competitors.
Read more ›
new video loaded: The U.S. Is Mining for Uranium
September 23, 2024
Miners at Pinyon Plain uranium mine, Arizona.
Advertisement
SKIP ADVERTISEMENT
new video loaded: Federal Reserve Cuts Interest Rates for the First Time in Four Years
transcript
transcript
Federal Reserve Cuts Interest Rates for the First Time in Four Years
Jerome H. Powell, the Fed chair, said that the central bank would take future interest rate cuts “meeting by meeting” after lowering rates by a half percentage point, an unusually large move.
-
Today, the Federal Open Market Committee decided to reduce the degree of policy restraint by lowering our policy interest rate by a half percentage point. Our patient approach over the past year has paid dividends. Inflation is now much closer to our objective, and we have gained greater confidence that inflation is moving sustainably toward 2 percent. We’re going to take it meeting by meeting. As I mentioned, there’s no sense that the committee feels it’s in a rush to do this. We made a good, strong start to this, and that’s really, frankly, a sign of our confidence — confidence that inflation is coming down.
Recent episodes in Business
Rival Executive Surprisingly Praises San Francisco Giants President Farhan Zaidi
Cowboys are 1.5-point underdogs to the Steelers in Week 5
Former Miami Heat Forward Shares Heartfelt Farewell Message
Boston weather: Dry, seasonable fall week headed for region
Denver’s high temperature tied the daily record high, the previous record was set in 1892.
Colorado Rockies game no. 116 thread: Zac Gallen vs José Ureña
See it: Tesla crashes into Columbus convention center at 70 mph
Fox News Politics: Georgia the whole day through
Death of missing Oregon girl found in stream ruled homicide
At least 2 dead as tornadoes hit Alabama, damage homes across Southeast
Social media critics rip Walz for celebrating Minnesota football rival, remind him he was booed: 'No loyalty'
Former Netanyahu rival Gideon Saar joins Israeli cabinet
The Pentagon says it wants to prevent Iran from spreading the conflict in the Middle East
Video: The Border in the Campaign and in Real Life
Trump, Harris blasted for ignoring exploding budget deficit, as economists plead with both to 'get real'
-
News1 week agoVideo: Who Are the Black Swing Voters?
-
Politics1 week agoDem lawmakers push bill to restore funding to UN agency with alleged ties to Hamas: 'So necessary'
-
News1 week agoFour killed, dozens injured in Alabama shooting
-
News1 week agoElection 2024 Polls: Florida
-
News1 week agoMoney for cutting-edge climate technology could dry up in a second Trump term
-
World1 week agoCritics slam landmark EU competitiveness report as 'one-sided'
-
Politics1 week agoSecret Service protection bill passes House unanimously after Trump assassination attempts
-
/static.texastribune.org/media/files/5e5395400eb1f412fb6d97a439483caf/SpaceX%20Brownsville%20MGO%2005.jpeg "Cards Against Humanity says in new lawsuit that SpaceX has destroyed some of its South Texas property")
News1 week agoCards Against Humanity says in new lawsuit that SpaceX has destroyed some of its South Texas property