Tuesday, February 26, 2008

Great Regulars: "The situation is quite serious,"

Sandra Boss, interim chairwoman of the Mount's board, said in a telephone interview from London, where she works. "On the one hand, the Mount [Edith Wharton's estate in Lenox, Mass.] is winning awards for preservation and is internationally renowned as an institution. And it's well run from an efficiency perspective. We've made great progress by cutting costs and raising revenues. On the other hand, our current debt levels are unserviceable and unsustainable. We're not in control of our own destiny unless we can mount a restructuring of our debt."

from Charles McGrath: The New York Times: Landmark Massachusetts Building Where Wharton Wrote Faces Foreclosure

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