Don’t miss Geoff Edgers’ fine muckraking smackdown of the Citi Performing Arts Center in this morning’s Globe. It seems the awfully lawyer-heavy board of trustees voted to give the CEO a $1.2 million bonus at the same time* they were running a deficit, cutting their summer outdoor Shakespeare productions from three weeks to one, etc., etc.
In a phone interview on July 18, board chairman [John William] Poduska [Sr.] said the bonus was created to keep [CEO Josiah] Spaulding [Jr.] at the center. “Was it justified or not? Boy, I’ll tell you it was,” he said. “Joe was being courted by everyone under the sun. . . . He stayed and did a heck of a job.”
The millennium’s most ringing endorsement! At the rate they’re going, the place’ll be a Citibank branch office before “Riverdance” swings through town again.
*Update (8/21): Citi Center board chairman John Poduska, Sr. has sent a letter to supporters and donors in which he states that the decision to give Spaulding the bonus was made in 2001, just before a run of deficit years, although the expense was spread over the five years of his contract ($200K per year, plus accrued interest), which means that they were, in fact, setting aside money for the bonus at the same time they were cutting their support of other programs.