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  • ATLANTA TAKES ON CREDIT AS EXPENSES OUTWEIGH REVENUE

         ACOG President Billy Payne said ACOG has spent more than it
    has taken in, "forcing it to dip into its $200M line of credit
    provided by game sponsor NationsBank."  A report in this
    morning's ATLANTA CONSTITUTION said ACOG has spent $356M on
    salaries, professional services, construction and other
    operational costs, and has raised $248.4M in revenues as of
    December '94.  Payne said he is "confident" AGOG will meet its
    $1.58M revenue goal, largely through the sale of tickets.  AGOG
    has borrowed $30M, but Payne said that figure was "much less than
    we anticipated" (Lyle Harris, ATLANTA CONSTITUTION, 1/27).  A
    report in today's N.Y. TIMES reports on "crack in Atlanta's
    united front on Games," as two members of ACOG's say they "had
    not been informed enough about planning nor given an opportunity
    to vote on issues that affect the Games" (Jerry Schwartz, N.Y.
    TIMES, 1/27).
         SUPER SIGNS:  The WALL STREET JOURNAL rexamines the 25
    eight-story billboads -- the "Godzilla of all signs" (Robert
    Frank, WALL STREET JOURNAL, 1/27).
    

    Print | Tags: Bank of America, Olympics
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