In the news

 

Charitable Giving Changes Summarized
 
Note: A number of appraisal-related changes to charitable giving have gone into effect in 2007.

Summary of charitable giving provisions of the Pension Protection Act of 2006 compiled by the House Ways and Means Committee

Detail on Pension Protection Act of 2006 compiled by the congressional Joint Committee on Taxation

IRS Guidance Regarding Appraisal Requirements for Non-cash Charitable Contributions

Appreciation of Steinway Pianos


Present Value Present Value Present Value
2.5 times higher than original cost. 5.9 time higher than original cost. 13.6 times higher than original cost.
Manufactured between 1959-1988. Manufactured between 1928-1958. Manufactured 1900's or earlier.

 

 



Hamburg - US-based piano maker Steinway & Sons unveiled Wednesday Nov 5, 2008 the most expensive grand piano it has ever built: a 1.2-million-euro (1.5 million dollar) instrument with inlays of 40 different woods. The 150-year-old company, which has a main workshop in the German city of Hamburg, said it took four years to make the piano for a Chinese customer, Guo Qingxiang. The lid of the model, named the Sound of Harmony, is decorated with a copy of a picture by Chinese painter Shi Qi. Woods used included ebony, ashwood and rosewood.

 

 

Baldwin Plant Closes

Baldwin piano will be ceasing production at its Truman, Ark,-based plant, according to a Dec. 8 article in the Truman Democrat. Baldwin notified Truman chamber of commerce officials on Dec. 5 that it was permanently laying off 41 of its 55 employees. "It's sad for the community," said Sheila Walters, Truman's mayor. "I think it shows the filtering-down effect of the economic crisis in the country." the mayor added that she was saddened by the news because Baldwin was good employer and a good cooperate citizen.

The announcement comes on the heels of recent heels figures released by the Labor Department, which showed that 533,000 Americans lost their jobs in November, the highest number in 34 years. Unemployment increased by 2.7 million, raising the national unemployment rate from 6.5 percent in October to 6.7 percent in November, a 15-year high.

Baldwin had been building pianos in Trumann for more than 30 years and was acquired by Gibson in 2001. The Company laid for 34 employees in February 2008 in a decision to manufacture solely Baldwin's custom line of pianos,which average in price around $60,000.00   Baldwin Piano Co.


MODEL DESIGN BY F. A. PORSCHE

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The new Bösendorfer Porsche grand piano, which has been developed in close cooperation with the internationally reputed companies Porsche Design and Bösendorfer, represents a novel contemporary approach to piano design. In keeping with Bösendorfer's motto - cherish traditions, transcend limits - this model incorporates ground-breaking new design features that will have a lasting impact on piano design development. The combination of silvery shining aluminum and dark-grey metallic lacquer surfaces adds to the new model's unique appeal. The new Bösendorfer grand piano designed by F.A. Porsche Design is the latest addition to a series of extraordinary designer grands that began as early as in the 19th century and has brought forth superb and precious instruments.

Mason & Hamlin Sweet Song
Mason & Hamlin reported an increase in both unit sales and profitability in 2006. The company had a 22-percent increase in unit sales. According to Kirt Burgett, Mason & Hamlin's president, the increase can be attributed to efficiency in the manufacturing process and successes with the model AA-64 and concert grand CC-94. The increase would have been higher had 16 model 50 uprights not been destroyed in a fire at the company's headquarters. www.masonhamlin.com


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