Memphis in May, now celebrating its 32nd year, seems like an event
that will hold a permanent place on our city’s calendars. But just 10
years ago, it was struggling to survive. In our May 6, 1999, cover
story, “At the Crossroads,” Marilyn Sadler (now senior editor of
Memphis magazine), explored the organization’s “tragedy,
turmoil, and brush with bankruptcy.”
Wes Brustad
She began her investigation by looking at the death of promoter Bob
Kelley, who had been responsible for booking most of the top musical
acts that came to Memphis:
“Whatever reasons Kelley had for ending his life — and some
say changes with the Beale Street Music Festival had nothing to do with
it — his death was one of numerous controversies that plagued the
1998 festival. Despite glorious sunny weather, attendance figures for
the music festival dropped to 79,000, a 30 percent decrease from the
previous year.
“Wes Brustad, who was hired as executive director in 1997 after an
almost year-long search, announced his resignation shortly after the
festival, but not before drawing both criticism and praise for changes
he enacted, including severing ties with Kelley.
“But the most significant legacy left by Brustad and the MIM board’s
executive directors is one that the current regime is saddled with now.
In October 1998, an audit showed a deficit of $592,375 — the
largest in the organization’s 22-year history. Reporting that MIM had
suffered a substantial operating loss, as well as deficits in operating
capital, the audit stated, ‘These matters raise substantial doubt about
the festival’s ability to continue as a going concern.'”
