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SLASH AND LEARN: SOCOG TO CUT OLYMPIC SPENDING IN LATE '99

          The Sydney Olympic Organizing Committee (SOCOG) will
     have to "slash" spending in late '99 if it can't reach its
     A$2.6B revenue goal, according to Stuart Washington of the
     FINANCIAL REVIEW.  Currently, SOCOG is A$85M behind its
     revenue target set in June '98.  NSW Minister for the
     Olympics Michael Knight "dismissed" the shortfall as "a
     timetable issue relating to payments committed but not yet
     received."  But he "conceded" that organizers "don't yet
     have our foot on" the A$2.6B needed under the revised budget
     and are about A$270M short of the sponsorship goal of $873M
     (Stuart Washington, FINANCIAL REVIEW, 11/18).
          GEE, AND SPONSORSHIP DOLLARS ARE LOW? In Sydney,
     Michael Evans writes that according to SOCOG research, 40%
     of those surveyed "were unable to name any Games sponsors
     without prompting" and the results are "leaving several
     major corporations wondering if their money could not have
     been better spent."  Financial group Telstra and Westpack/
     Challenge Bank were recognized as sponsors by 21% and 20% of
     respondents, respectively.  Major sponsors -- who have "paid
     up to" A$60M to sponsor the games -- Panasonic, Swatch, News
     Ltd and Fairfax were not recognized at all.  McDonald's (6%)
     was "barely recognized" (SYDNEY MORNING HERALD, 11/20).

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