Off the rails? The inside story of how Carriageworks lost its footing

Nearing the end of his stint as Carriageworks' interim chief executive last year, Euan Upston tried to fix a looming problem. The arts company was not having its best year, and facing a loss, Upston approached government agency Create NSW about a financial lifeline.

And history may yet come back to bite. The charity's directors have put a rescue package on the table, conditionally endorsed by KPMG. But it hinges on the government agreeing to a long-term lease - a commitment the Premier, who is also the acting arts minister, is yet to make. Now and in the past, the Carriageworks board has been graced by a who's who of Sydney business identities. Its acting chair is corporate adviser Cass O'Connor; the previous chair, Sam Mostyn , left last year, as did corporate communications doyenne Sue Cato.Dallas Kilponen

When the Coalition government was elected in 2011, it was keen for Carriageworks to succeed. It turfed out George Miller's film company Kennedy Mitchell Miller from its rent-free lodgings next door, and Carriageworks expanded into the space. In 2016, Havilah revealed an ambitious six-year, $50 million plan involving the installation of a 5000-seat live music venue. By 2021, Carriageworks would be earning revenue of $15 million. The government was interested but it became tied up in bureaucracy. Meanwhile, Carriageworks' commercial earnings flatlined at about $8 million a year.

"It made it to within a minute to midnight," one proponent lamented. "It would have put Carriageworks on the safest footing." Then came the coronavirus, which effectively wiped out the prospect of any further revenue this year. Like many not-for-profits, Carriageworks had "a limited buffer to respond to severe financial shocks, such as the impact of the COVID-19 pandemic", the administrators said.

I stopped reading about 3 pages down. But just to say that if all these projects were losing money and not attracting the patronage needed, then seems like it should shut. Lovely to have a venue to create art but food needed on tables.

I'm sure its better than football, but , Australians are not that bright ..and follow the leather ball blindly ...like cave men. They are not that rich either. Not under this government. too busy working themselves to death paying off their insane mortgages and their BMWs!

Sometimes even when you spend your dollar(in this case someone else's) you take your chances. Tho it's best to wait until the angel stumps up the readies. LifesAGamble smh nswpol

ten years? No self generated funds? I guess if the arts was as well advertised as the NRL then maybe they had a chance at becoming a self sustaining enterprise.

Pfft.

India,China agree to peacefully resolve situation in border areas in accordance with various bilateral agreements. laddakh IndiaChinaFaceOff

Australia Latest News, Australia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Protesters march in Tokyo, Seoul as anti-police brutality rallies kick off in AsiaAs thousands of people took to the streets across Australia, so did hundreds in Tokyo and Seoul to support protests happening in the US against police brutality. Hippie bullshit. Oh is it about police brutality now is it? I can’t keep up. I thought it was about racism. The victims the BLMprotest , RIP.
Source: SBSNews - 🏆 3. / 89 Read more »

'When you're not cool, it takes so much pressure off': Owl Eyes'I was able to distance myself a bit from the Australian music industry and stop comparing myself to other artists...discover what came naturally to me. Not worry about what everyone else is releasing.'
Source: theage - 🏆 8. / 77 Read more »

Commonwealth Bank slapped with $5 million fine over product that ripped off 8,000 farmersCommonwealth Bank customers came out behind on 131,542 occasions when they used the bank's AgriAdvantage Plus Package meant to provide waivers, interest rate discounts and bonus interest on savings, the Federal Court has found. ....” incorrectly took” On a par with the ABC under paying 2,500 employees 23 million dollars, bully boys are sad 😢. ...and yet the government defers to the banks as bastions of credibility...ScottMorrisonMP
Source: abcnews - 🏆 5. / 83 Read more »

Boy, 5, and man missing in accident off NSW coastA five-year-old boy and a man are missing after a boat capsized off the NSW coast near Wollongong.
Source: smh - 🏆 6. / 80 Read more »

Eels hold off Sea Eagles in controversial NRL finishThe Sea Eagles appeared to have snatched victory from the Eels in the final minute of play, before being denied a match-winning try because of a forward pass. , it is not controversial for being disallowed a try resulting from a forward pass. It would have been controversial if a try, resulting from a forward pass, had been awarded. NRL... their code’s a joke It never looked forward out of my eagle-eye.
Source: abcnews - 🏆 5. / 83 Read more »

Man dies after shark bite off northern NSW beachBreaking: A male surfer has been killed after being bitten by a shark off Kingscliff in northern NSW MichaelJordan Jordan donated $100M to organizations dedicated to ensuring racial equality and coronavirus That’s scary. Who killed him? smh auspol
Source: smh - 🏆 6. / 80 Read more »