Category: Finances

John Thornton, Venture Capitalist Who Founded The Texas Tribune, Dies at 59

An idealist, he founded The Texas Tribune, a model for nonprofit grass-roots news organizations nationwide, and the American Journalism Project, which supports them.
The Brooklyn Academy of Music Is Fighting to Regain its Mojo

America’s oldest performing arts venue does not draw the attention or audiences it once did. Now it has lost another leader as it works to adjust to an uncertain future for cultural institutions.
Guggenheim Lays Off 20 Employees as Financial Challenges Persist

The museum has suffered from rising costs and lower attendance. The cuts followed those at the Brooklyn Museum, which trimmed 10 percent of its staff this month.
Joann, 80-Year-Old Crafts and Fabrics Retailer, Will Close All Stores

The announcement that the chain would close all 800 of its stores in 49 states comes after a period of financial turmoil.
Chinese Hospital Bankruptcies Soar Amid Financial Strains

Still recovering from heavy spending during the pandemic, hospitals are squeezed by a slumping economy and government efforts to curb health care spending.
Brooklyn Museum Will Lay Off Employees and Scale Back Exhibitions

The museum, which faces a projected $10 million deficit, said it planned to cut more than a tenth of its employees and mount fewer exhibitions.
In San Antonio, an Orchestra Was Reborn. Can It Endure?

The San Antonio Philharmonic was formed after the demise of the city’s 83-year-old orchestra in 2022. But rebuilding has not been easy.
Jeffrey Epstein’s Estate Got a $112 Million Tax Refund

The estate’s assets have swelled to $145 million, a probate court filing in the U.S. Virgin Islands shows. Much of that won’t make its way to Mr. Epstein’s victims.
Andreessen Horowitz, Benchmark and the Transformation of Venture Capital

The opposing paths taken by two powerful firms — Benchmark and Andreessen Horowitz — embody a profound debate about the future of an industry that funds and fosters American innovation.
What if Charity Shouldn’t Be Optimized?

The recent trend in philanthropy has been to look for the most bang for your buck. Maybe you don’t have to.
Boeing Seeks to Line Up Billions in Financing as Strike Goes On

The aerospace giant said it could raise as much as $25 billion in debt or equity over the next three years, including a $10 billion line of credit.
An Oasis in England’s Troubled, Polarized Opera Landscape

The Glyndebourne Festival, which receives little government support, has been mostly immune from recent convulsions of the opera industry in Britain.