Article “Panel rules against PAM in pledge case” reports:
“Arbitrators say two major contributors do not have to turn over to Pennsylvania Academy of Music the remaining $150,000 of the $240,000 they originally pledged to it in 2004.”
WATCHDOG: The arbitrators did their job and the executives of the Pennsylvania Academy of Music did theirs. For them not to have endeavored to collect funds which had been pledged would have been contrary to their fiduciary responsibilities. A wag of the tail for all involved.
