FL 2012 President & CEO Ed Turanchik said that the
Olympic bid group has "borrowed against" its $500,000 credit
line this year to "help meet routine expenses," but added
that it "isn't experiencing financial problems," according
to Gary Haber of the TAMPA TRIBUNE. Turanchik: "We've met
our fundraising goals to date and our financial obligations
to date." Haber wrote that the bid group has been
"feverishly working to complete" their Olympic bid document,
which "must be filed" with the USOC by December 15.
Turanchik: "This is the most expensive year for us because
the bid is due." Haber noted that FL 2012 will spend more
than $3M this year, compared to $2M in '99. Turanchik added
that the committee "has no plans to apply for another line
of credit or extend its borrowing capability under the
existing line" (TAMPA TRIBUNE, 10/22). Bank of America
(BofA) CEO Hugh McColl, when asked if BofA "would work" with
FL 2012 to bring the Olympics to FL, one of the bank's "key
markets": "Yes. But the way that works right now is that
the local president for banking in Florida is involved with
that. There are several U.S. cities bidding for the
Olympics, and we don't want to favor any one over another"
(BUSINESS JOURNAL OF CHARLOTTE, 10/20 issue).
GOLD-EN TOUCH: Compaq was named as a Gold Sponsor of
the Houston 2012 Foundation, a group dedicated to bringing
the Olympics to the city (THE DAILY).
