42nd Street: Too Big to Fail?
by Larry O'Connor- Summer, 1987: In a stunning and unprecedented move, President Walter Mondale has stepped in and saved the Broadway musical “42nd Street” from eviction at the Majestic Theatre. The theatre’s owners had earlier announced that they were using a standard clause in the production’s booking agreement and had given an eviction notice to the show due to low ticket sales. Subsequently, the theatre owners have also announced that in January of next year, the Majestic will be the new home to British import “The Phantom of the Opera.”

But, in an effort to “save American jobs” and keep an American musical from having to make way for an imported show, President Mondale has deemed “42nd Street” “too big to fail”: “This show has been running since 1980 and has been providing jobs for hundreds of working families in New York. My administration is determined to keep this production running and to keep these long-suffering, union workers on the job,” the President said. (more…)






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