Steinway Raises $27 Million On March 30, Steinway Musical Instruments, Inc. announced that, pursuant to the previously announced subscription agreement, Samick Musical Instruments Co., Ltd. has exercised its option to purchase an additional 1.7 million shares of ordinary common stock at an exercise price of $16 per share. Steinway intends to use the proceeds to retire outstanding debt and for general corporate purposes.

Went to Caramoor to hear my friend Gabriela Montero. Originally scheduled for the Spanish Courtyard, it was moved to the Venetian theater because of rain probability. She played wonderfully but it was not a good setting for a recital and the piano made me think of everything I hate about the Steinway sound. Loud, clangy with absolutely no color difference between pp and ff. On the other hand, it was beautifully tuned and, giving perhaps credit where none is due, may have been set up for orchestral playing. But still, why does anybody think that kind of tone is desirable?