HORNETS BEGIN MEETING WITH LOCAL BIZ EXECS ON ARENA

          Hornets co-Owner Ray Wooldridge met last week with
     "four key business leaders, forging a relationship that is
     considered essential for the team to get a new uptown
     arena," according to a front-page report by Bonnell & Markoe
     of the CHARLOTTE OBSERVER.  Developer Johnny Harris and
     Wooldridge met with former Charlotte Chamber President
     Nelson Schwab, Bank of America CFO Jim Hance and First Union
     Mid-Atlantic President Mack Everett.  Wooldridge: "The banks
     are probably the biggest businesses in town.  They have
     agreed to seriously consider our proposal to give us their
     support.  The business community is getting more comfortable
     with what we're doing" (CHARLOTTE OBSERVER, 7/15).  The
     BUSINESS JOURNAL OF CHARLOTTE's Erik Spanberg writes that
     some industry experts wonder whether corporate support
     "includes buying luxury suites and club seats at the new
     venue."  Wooldridge says that "nothing beyond informal talks
     have been held about the demand for luxury seating at a new
     arena" (BUSINESS JOURNAL OF CHARLOTTE, 7/14 issue).