Breaking News: REBECCA $4.5 Million Short After Investor's Death - Delays Start of Rehearsals for 2 Weeks; Previews & Opening Night as Well- Page 3

[averagebwaynut]

Posted: 9/11/12 at 11:54pm

Two small points:

bk: it's not just the last decade. It's been happening for at least two decades (which I can attest to first hand) and likely a lot longer (which I can attest to second hand). Merrick and the others spent money on shows long before they were fully capitalized too. The differences were a) the economics (even adjusted for inflation, shows weren't as costly so 25-30% of capitalization meant a much lesser sum than $4.5M if it suddenly dropped out); b) the major producers then were true producers with substantial financial means of their own and not just fundraisers and/or fundraisers who partnered with other fundraisers. If need be, they could and would cover shortfalls with their own money. But their spending habits were no different.

CapnHook: actually, the latest date that a show can typically be fully capitalized is Opening Night. You're correct that most shows set the deadline at no later than first rehearsal. But some set the deadline only as of 1st preview. And still others set the deadline as Opening Night. As long as the deadline is fully disclosed in the Operating Agreement of the entity formed to produce the show, and as long as the show can sustain operations on a cash flow basis without all of the cash in hand (which it sometimes can if it's only a small amount missing since part of the capitalization is often a reserve that may not be spent anyway), there's nothing stopping a producer from waiting that long to have cash in hand. Of course, if the show never makes it to performances and the producers have spent investor money and the investors have not waived their right of refund, the producer is liable to repay the money. So there's certainly a great risk. But in and of itself, the deadline can actually be quite a bit later than first rehearsal.

[Luv2goToShows]

Posted: 9/12/12 at 11:53am

MelissaF, looks like they moved the first preview to 11/6

[kooky]

Posted: 9/12/12 at 5:21pm

where did you read that L2GTS ... ????

[LimelightMike]

Posted: 9/12/12 at 5:36pm

Anything new on this one, folks?

[Rockyfan2000]

Posted: 9/12/12 at 5:55pm

It's on Telecharge.

[Luv2goToShows]

Posted: 9/12/12 at 7:18pm

Thanks Rockyfan2000, yes I saw it on Telecharge. I have been checking since the delay was announced, I have a ticket for the 8th and was wondering if it was going to be cancelled and I would need book for another show. So far so good for me but MelissaF had a ticket for the 31st.

[RippedMan]

Posted: 9/13/12 at 12:35am

It's amazing to me that something like this can't get any backing, but shows like Story of My Life open so easily.

[DeNada]

Posted: 9/13/12 at 5:12am

Story of My Life was a two-hander musical with a virtually static set, English language writers and a few North American professional productions under its belt before it came to Broadway.

Rebecca is a megamusical in an era when megamusicals don't sell on Broadway, with a large cast and spectacular sets. It's written by one of the guys behind DANCE OF THE VAMPIRES and the English demos are, to be charitable, pretty rubbish.

The difference in scale of both the investment and the risk involved in these projects is completely incomparable.

[MelissaF]

Posted: 9/13/12 at 8:13am

Thanks for the heads up...Ive been keeping an eye on it daily...Ive already called Telecharge and theyve asked me to call back later....At least I have a few options for a replacement show, this wasnt one i was yearning to see, but my boyfriend thought it sounded interesting, and its his first time in NYC!

[philly03]

Posted: 9/13/12 at 11:24am

"Rebecca is a megamusical in an era when megamusicals don't sell on Broadway, with a large cast and spectacular sets. It's written by one of the guys behind DANCE OF THE VAMPIRES and the English demos are, to be charitable, pretty rubbish."

The '03 demos were written by Kunze ten years ago to garner interest in a potential West End production, to be further adapted by an actual English-speaking writer (Kunze does not write full shows in English). Kunze had little to do with DOTV on Broadway, and Slyvester Levay had NOTHING to do with that at all (Jim Steinman).

The pair are responsible for the most successful musical in the German language, Elisabeth, which made stars of Pia Douwes and Uwe Kroger.

Also the other creatives behind it - Michael Blakemore, Francesca Zambello, and Graciela Daniele are all pretty renowned.

Will it tank? I'm not sure but looking at the creative team I would have imagined also that (perhaps rookie) producers would've jumped at it.

[Phantom of London]

Posted: 9/13/12 at 1:47pm

Think this show is now pretty much on, or Riedel would of been all over it like a cheap suit yesterday.

[Luv2goToShows]

Posted: 9/18/12 at 6:56pm

MelissaF, did Telecharge refund or exchange your tickets for a later date? I have tickets for the 8th and see Telecharge is selling tickets starting 10/13. I called to reschedule and was told no performances have been officially cancelled yet. I am curious, what did they tell you?

[MelissaF]

Posted: 9/18/12 at 10:25pm

I called after the dates were changed on Telecharge....There was a little confusion, but they eventually agreed to refund the tickets, as Im from Toronto, and could not give alternative dates...I ended up buying tickets for Once on that night (though I wasnt a fan of the full prices, what could I do!) Hope things go smoothly for you..

[Luv2goToShows]

Posted: 9/19/12 at 7:45am

Thanks MelissaF, I guess l will call again at the end of the week, hopefully by then it will be officially announced. I was going to book Scandalous in that spot but saw it was on TDF so I grabbed a ticket for an Oct performance instead.

I loved Once, hope you enjoy as much as I did.

[CurtainPullDowner]

Posted: 9/21/12 at 9:10pm

The money now seems to be in place, though investment contracts have not been signed.
The "dead guy" story appears to be untrue since there are "new" investors.

[bwayphreak234]

Posted: 9/21/12 at 9:48pm

Very glad it's happening after all!

[wonkit]

Posted: 9/21/12 at 10:03pm

The "dead guy" story seems true because they are not waiting for a check to clear probate, and are instead finding some investors who are still breathing.

[ACL2006]

Posted: 9/22/12 at 12:06am

I still see this as the major flop for the 2012-2013 season.

[CurtainPullDowner]

Posted: 9/22/12 at 12:12am

Well yeah, the "dead guy" died but they did not get his money as they first said they would.

Let's hope the checks don't bounce.

[Joviedamian]

Posted: 9/23/12 at 8:06am

I don't get this? All headlines I've read indicate that the actors have not been paid. Are you kidding me? They are waiting on $4.5 Million just so they can pay the actors? Why isn't there enough funds in the additional money that has been raised to at least pay the actors.


Updated On: 9/23/12 at 08:06 AM

[AEA AGMA SM]

Posted: 9/23/12 at 9:30am

Actors on Broadway receive a weekly salary that begins when rehearsals start. If rehearsals haven't started then the actors don't get paid, simple as that. Whether the money is there or not the producers are not going to pay the actors if the actors aren't working.

[CurtainPullDowner]

Posted: 9/23/12 at 4:57pm

Well these Actors are getting paid as of this coming week,
but rehearsals are still on hold.

Throwing away $$$.

[Mr Roxy]

Posted: 9/23/12 at 7:52pm

If they do not sell out immediately they are screwed.They will have no money cushion and no $$ for advertising. It will not be pretty.

[g.d.e.l.g.i.]

Posted: 9/23/12 at 8:32pm

^ Look at Ben Sprecher's track record, and tell me that surprises you.

[Rabekriegerin]

Posted: 9/23/12 at 9:10pm

As long as I get to see it... current plans are for Thanksgiving weekend. But I will radically move that up if I have to!