Loan comes through for Paper Mill; ETC

Following is the latest release from Paper Mill Playhouse, which yesterday announced confirmation of the long-rumoured $3.5 million loan from a local banking institution.

Mixed feelings. We only know two things for sure:

1. The loan is enough to get them through the last show of their season.
2. They are now spending someone else's money.

They still need to shake up their board of trustees, which, by all reports (none of which I have read about being refuted) have engaged in a disturbing pattern of setting unrealistic budgets based on their own inadequate donation pledges (that's how you get on the board in the first place, folks), which they subsequently fail to honor. Not that anyone is ripping anyone off here--we know where the money is going, because we see the shows--but the bottom line is that this irresponsible behavior has done what might prove to be irreparable harm.

At the very least, the state ought to investigate this matter before coughing up any more grant money. There are a lot of smaller companies who could put that money to better use than staging a revival of a musical that loses thousands and thousands of $$?

Sidebar
Speaking of grant money, I hear the Dodge Foundation may be, in effect, getting out of the arts patronage business. That would be quite a blow to the New Jersey stages. Does anybody have more on this?

Fortunately, Jersey Stages is financially secure, although I did spend $500 on a new dryer last week (A delayed casualty of my flood, for those of you still following that mini saga).

Upcoming
Nada. No openings in North or Central Jersey (NJ Rep is out of my radius). Tomorrow is Garage Sale Day for me and the missus. First, the Daily Record's big county garage sale at Morris County College, a must for garage-sale freaks. One of the biggest you'll ever see. Then back home for my Lake Intervale neighborhood garage sale. Will miss my neighbor Maggie Rapp, a dedicated buyer, seller and fellow journalist who didn't make it through the winter. Maggie, if you're husband still has that Edison cylinder you used to tease me with, I can give it a good home.

Paper Mill press release follows below. Happy hunting, folks.

INVESTORS SAVINGS BANK ISSUES $3.5 MILLION DOLLAR LOAN TO REVITALIZE PAPER MILL PLAYHOUSE

(Millburn, NJ)– In a joint announcement today, leaders from Investors Savings Bank and Paper Mill Playhouse reported the bank issued the theatre a significant loan to assist with their cash crisis. Chairman of the Paper Mill Playhouse Board of Trustees Ken Thorn stated, “This is the first step in a long range plan to revitalize the Playhouse and ensure the theatre’s financial stability.” Thorn says the loan will not only permit the theatre to continue with the current season’s last play, Pirates!, but also make preparations to launch the 2007-2008 season.

“All of us at Investors Savings Bank care deeply about Paper Mill Playhouse where we have taken our children, friends and colleagues to amazing performances over the years,” said Kevin Cummings, EVP & COO of Investors. “We have shared in the growth of Millburn and have enjoyed working with the many customers and businesses we have today. Our loan signifies the commitment Investors has to this community and to all of New Jersey, as the financial health of Paper Mill impacts us all on many levels.”

Paper Mill’s Board Vice Chair Steven Tasher commented, “The loan from Investors Savings Bank will provide much needed financial relief to the theatre. This loan is part of a much bigger plan that includes a partnership with the Township of Millburn, community business leaders and a planned administrative reorganization of the Playhouse that will incorporate a sound longer-term business and financing plan. Continued community support will be needed to ensure the success of Paper Mill.”

Scott Fergang, a member of the Board of Trustees remarks, “The Paper Mill Playhouse Board of Trustees and staff are poised to begin the process of revitalizing the theatre through a newly adopted mission that positions Paper Mill as ‘an artistic and educational center for intergenerational audiences’. By expanding our education and outreach programs Paper Mill will deepen its engagement with the community and reach a new generation of families throughout the State of New Jersey. Our upcoming production of Pirates! is a great example of Paper Mill’s commitment to our subscribers and families in New Jersey.”
Pirates!, a swashbuckling adaptation of Gilbert and Sullivan’s The Pirates of Penzance, a fully-staged theatrical concert with costumes, choreography and sword fighting was conceived by Gordon Greenberg (Jacques Brel…), Nell Benjamin (Legally Blonde), and John McDaniel (The Rosie O’Donnell Show) and will run at the Millburn theatre from June 7, 2007 through July 8, 2007. The production stars Farah Alvin (Mabel), Ed Dixon (Modern Major General), Barrett Foa (Frederic), Liz McCartney (Ruth), Gerry McIntyre (Sergeant) and Andrew Varela (The Pirate King). Pirates! is produced with generous support from RBC Dain Rauscher. Tickets may be purchased by calling 973-376-4343, or at the Paper Mill Box Office on Brookside Drive in Millburn, or online at www.papermill.org.