-- Updated with a statement from the Orchestra --
State Rep. Phyllis Kahn is drafting legislation that could establish community-ownership of the dysfunctional Minnesota Orchestra.
She's still working on the details. As it stands, the governor would oversee the creation of a new
company, and that company would sell stock to raise the funds to buy the orchestra.
No individual or entity would be allowed to own more than five percent of common stock, and at least half the company would be reserved for community members, who'd be limited to owning one percent a piece.SEE ALSO: Osmo Vanska resigns from Minnesota OrchestraFor more than a year now
, the community has mostly sat silent while the musicians and the
board carried on a labor dispute and public relations campaigns. Two weeks ago, the orchestra's
celebrated music director, Osmo Vanska, resigned.
When asked how a potential restructuring of the orchestra would prevent a similar impasse in the future, Kahn responded, "I'm not a financial expert." But she added, "The major thing for this bill is to start a conversation."