Bloomberg News (your go-to source for bad news about New York City Opera) today laments that the company has “once again reached deep into its endowment.” According to scribe Zinta Lundborg, that endowment has suffered perhaps irreversible shinkage, dwindling from a massive, bulging $51 million in 2001 to a puny, humiliating $3 million currently. Lundborg suggests NYCO has been abusing its endowment by milking it repeatedly; meanwhile, hands-on assistance from deep-pocket donors has still not come. Quite a handful for George Steel, as he, in the words of Anne Midgette, “tries to get it up and running again.”

Latest on Parterre

Comments