The national prestige of the St. Louis Symphony grew most prominently during the music directorship of Leonard Slatkin, from 1979 to 1996. During his tenure, the orchestra made many recordings for the EMI and RCA Victor labels, and toured to Europe and the Far East, as well as concerts at Carnegie Hall. However, this growth in prestige was not matched by stabilization of long-term finances. In 2000, the SLSO's endowment stood at US$28 million. In 2000, the executive director and President of the SLSO at the time, Don Roth, had secured a US$40 million challenge grant from the Taylor family (owners of privately held Enterprise Rent-A-Car) to help the organization's money situation. However, in that same year, he revealed the situation of severe financial problems with the St. Louis Symphony Orchestra finances, which nearly led to the orchestra's bankruptcy in 2001. Roth resigned his position in July 2001, and was succeeded by Randy Adams, a former St. Louis bank executive. Adams embarked on extensive fund-raising efforts in the following years, seeking to enlarge the SLSO's endowment in the process. As part of the budget cuts and cost-saving measures, the musicians agreed to salary cuts over that time, and also a reduction of their 52-week contract to 42 weeks.
