Future of Kennedy Center for Performing Arts

Mr. Wolfensohn became chairman of the John F. Kennedy Center for the Performing Arts on March 23, when the former chairman was asked to resign by the Board of Trustees. His prior experience as chairman of New York City's Carnegie Hall and other business experience led to his selection. He accepted the challenge to turn around the financial affairs of the Kennedy Center on the condition that congressional leaders and the Bush administration pledge $45 million to help him. Mr. Wolfensohn discussed the current financial state of the Kennedy Center. He claimed that the center had slipped into its current state because it lacked focused programming and strong fund-raising support from its board. The John F. Kennedy Center for the Performing Arts was dedicated in 1964 by Congress as the sole memorial in the nation's capital to the former president.