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If I'm reading this right, they are just pausing operations to save money, until COVID is over and they can re-open?

by ars 6y ago

rbanffy 6y ago
They are shutting down the museum and laying off the staff. They may be able to reopen at a later time, but that is unclear now. The closure for that long may drain their finances beyond recovery.
- Wingman4l7 6y ago
  Yes, it sounds like they're mothballing rather than, say, actively trying to sell off the collection. However, the staff layoff is already damaging enough -- that's a lot of specialty expertise they may not be able to easily recover.
- topkai22 6y ago
  I wonder if Bill Gates will up and keep that aspect of his one time friend's legacy alive.
  - rbanffy 6y ago
    Legend says he and Ballmer tried to take over Allen's share when they thought he would die of cancer. It could be a nice posthumous apology.
    - pinewurst 6y ago
      It's hardly legend, Allen heard them talking about it when they didn't realize he was in the office.
      - jecel 6y ago
        As nasty as something like this made them look, what is being discussed here makes it not unreasonable. They liked being partners with Allen but were worried about his heirs having control of their company as they might have taken it in a direction Allen wouldn't have approved.
zifnab06 6y ago
To clarify, Jody Allen took over Paul Allen’s fortune when he passed. I’m unsure what all has been closed since then, I know at least Stratolaunch (a space firm), Vulcan Productions (a small-ish media company), and now Vulcan Entertainment (LCM, Cinerama, and the flying heritage and combat museum) have all closed. The Museum of Pop Culture (preciously Experience Music Project + Science Fiction Museum) was spared - they’re technically self funded now. It feels like she’s cleaning house. COVID definitely didn’t help but Cinerama closed for a “remodel” sometime last year and laid off all their staff.
- hyperrail 6y ago
  One correction: Stratolaunch hasn't closed. Vulcan sold it last year to Cerberus Capital Management [1], the private-equity firm that controlled Chrysler before it merged with Fiat. But it continues to operate with the same management. [1] https://www.geekwire.com/2019/exclusive-buyer-paul-allens-stratolaunch-space-venture-secretive-trump-ally/ https://www.geekwire.com/2019/exclusive-buyer-paul-allens-st...
  - zifnab06 6y ago
    Oh, this is good to know I must have missed it. I assume this is the same Cerberus Capital Management that acquired Safeway and has been running them into the ground?

If I'm reading this right, they are just pausing operations to save money, until COVID is over and they can re-open?

by ars 6y ago

If I'm reading this right, they are just pausing operations to save money, until COVID is over and they can re-open?

They are shutting down the museum and laying off the staff. They may be able to reopen at a later time, but that is unclear now. The closure for that long may drain their finances beyond recovery.

Wingman4l7 6y ago
Yes, it sounds like they're mothballing rather than, say, actively trying to sell off the collection. However, the staff layoff is already damaging enough -- that's a lot of specialty expertise they may not be able to easily recover.
topkai22 6y ago
I wonder if Bill Gates will up and keep that aspect of his one time friend's legacy alive.
- rbanffy 6y ago
  Legend says he and Ballmer tried to take over Allen's share when they thought he would die of cancer. It could be a nice posthumous apology.
  - pinewurst 6y ago
    It's hardly legend, Allen heard them talking about it when they didn't realize he was in the office.
    - jecel 6y ago
      As nasty as something like this made them look, what is being discussed here makes it not unreasonable. They liked being partners with Allen but were worried about his heirs having control of their company as they might have taken it in a direction Allen wouldn't have approved.

zifnab06 6y ago

To clarify, Jody Allen took over Paul Allen’s fortune when he passed. I’m unsure what all has been closed since then, I know at least Stratolaunch (a space firm), Vulcan Productions (a small-ish media company), and now Vulcan Entertainment (LCM, Cinerama, and the flying heritage and combat museum) have all closed. The Museum of Pop Culture (preciously Experience Music Project + Science Fiction Museum) was spared - they’re technically self funded now. It feels like she’s cleaning house. COVID definitely didn’t help but Cinerama closed for a “remodel” sometime last year and laid off all their staff.

hyperrail 6y ago
One correction: Stratolaunch hasn't closed. Vulcan sold it last year to Cerberus Capital Management [1], the private-equity firm that controlled Chrysler before it merged with Fiat. But it continues to operate with the same management. [1] https://www.geekwire.com/2019/exclusive-buyer-paul-allens-stratolaunch-space-venture-secretive-trump-ally/ https://www.geekwire.com/2019/exclusive-buyer-paul-allens-st...
- zifnab06 6y ago
  Oh, this is good to know I must have missed it. I assume this is the same Cerberus Capital Management that acquired Safeway and has been running them into the ground?