Pittsburgh Arts, Regional Theatre, New Work, Producing, Copyright, Labor Unions,
New Products, Coping Skills, J-O-Bs...
Theatre industry news, University & School of Drama Announcements, plus occasional course support for
Carnegie Mellon School of Drama Faculty, Staff, Students, and Alumni.
Pittsburgh Business Times: A consortium of Pittsburgh-area foundations purchased the August Wilson Center for African American Culture from Dollar Bank on Wednesday for $8.45 million as a deal months in the works played out after dramatic twists and a sheriff's sale earlier this week.
It looks like the only ones who benefitted from this deal was Dollar Bank. First they bought the center for $1,912, and then they sell it at 8.5 million, a higher price than the original delinquent mortgage, coming out with a nice profit of $ 8,498,088.
At least the foundations that have bought the center intend to maintain the original purpose of the center of being a focal point for African American culture. I have gone to many events at the August Wilson Center myself, and even though many of hem have not had any African-American inflection in them whatsoever, just the action of walking around the center and reading the old articles on the walls and the names of all the people who helped to create it. A lot of the plaques in this center have provided me with more information about the African-American community of pittsburgh than any textbook or wikipedia article ever has.
I am surprised at how long it took to close this deal. And like David, I find it interesting just how much money Dollar Bank made off of the August Wilson Center. I would have hoped that more would have been eager and on board with the idea of buying the Center as August Wilson is arguably one of the most influential American playwrights. His unforgiving account of black culture leads audience to discover an accurate and true account of life. I would think that there would be a little more of Pittsburgh pride at the idea of conserving the great historic memory of August Wilson and African-American culture.
2 comments:
It looks like the only ones who benefitted from this deal was Dollar Bank.
First they bought the center for $1,912, and then they sell it at 8.5 million, a higher price than the original delinquent mortgage, coming out with a nice profit of $ 8,498,088.
At least the foundations that have bought the center intend to maintain the original purpose of the center of being a focal point for African American culture. I have gone to many events at the August Wilson Center myself, and even though many of hem have not had any African-American inflection in them whatsoever, just the action of walking around the center and reading the old articles on the walls and the names of all the people who helped to create it. A lot of the plaques in this center have provided me with more information about the African-American community of pittsburgh than any textbook or wikipedia article ever has.
I am surprised at how long it took to close this deal. And like David, I find it interesting just how much money Dollar Bank made off of the August Wilson Center.
I would have hoped that more would have been eager and on board with the idea of buying the Center as August Wilson is arguably one of the most influential American playwrights. His unforgiving account of black culture leads audience to discover an accurate and true account of life. I would think that there would be a little more of Pittsburgh pride at the idea of conserving the great historic memory of August Wilson and African-American culture.
Post a Comment