It's been seven months since the Honolulu Symphony filed for bankruptcy.
And Sunday night the Honolulu Symphony society board of directors announced its best and final Offer has been rejected by the musicians union.
Budget woes silenced the Honolulu Symphony late last year.
A debt that grew to almost four million dollars forced the nearly 110-year old Symphony to file for Chapter 11 Reorganization in December.
Since then, the Symphony Board of Directors has been looking at ways to bring the Symphony back without going back in the red.
Chair Kimberly Miyazawa Frank said in a statement quote: "We have developed a reorganization plan that we believe is sustainable in a community our size. The plan has a budget of $1.7M in its first year, phased to a budget of $3.5M in its third year."
That's much less than the 8-million dollar budget the Symphony used to have.
Over the past several months, the Board and the Musicians Union have been going back and forth, trying to work out a deal.
“The symphony's offer, the initial offer was for a 92% pay cut. Our salary this year was scheduled to be just under $31 thousand. They've offered an annual salary of $3256,” said Jonathan Parrish of the Musician’s Union.
But in its final offer, the Board said it would maintain the musicians *rate* of pay and keep all 63 musicians.
The Symphony would save money by cutting administrative expenses, and the number of concerts and by reducing medical benefits and instrument insurance costs.
The Board said the Union has refused its best and final offer.
Miyazawa Frank said quote: "We are deeply saddened and disappointed that an agreement could not be reached. At the same time, we know the clock is ticking on this reorganization.
Remaining in a prolonged state of limbo, without a collaborative, good faith effort to create a sustainable symphony organization, depletes our momentum and ability to move forward with a plan."
‘We're willing to sit down and continue talks. We've made that clear. We made that clear Friday, when we met. And after the meeting, we emailed just to reiterate that we're still willing to talk,” said Parrish.
The symphony board says it remains committed to presenting live symphonic music to the people of Hawaii, and plans to announce an alternative plan soon.
