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Politics : Sioux Nation -- Ignore unavailable to you. Want to Upgrade?


To: SiouxPal who wrote (166786)5/3/2009 1:14:14 AM
From: stockman_scott  Read Replies (1) | Respond to of 362920
 
Quail Hollow Golf Shows Upheaval of Sponsorships

By Michael Buteau

May 1 (Bloomberg) -- The Quail Hollow Championship, a PGA Tour event that sold out six straight years, is an unlikely candidate to be suffering from an identity crisis.

While Tiger Woods and other players walk past signs that say “Quail Hollow,” ticket holders have stubs bearing logos of Wells Fargo & Co.’s Wachovia bank.

The scenes around the seven-year-old tournament are a microcosm of the difficulty facing sports sponsors during the worst economic decline in a generation. While companies still want to be associated with powerful athletes like Woods, who ranked No. 1 on BusinessWeek magazine’s list of 100 most influential sports people in October, some would simply prefer to keep their relationships less public.

“Financial institutions are under a different kind of microscope these days,” Steve Rosner, co-founder of 16W Marketing LLC of Rutherford, New Jersey, said in a telephone interview. “They have to be extremely sensitive of how they spend their money, because not only do they have to answer to shareholders, they now have to answer to the government.”

Wells Fargo Chief Executive Officer John Stumpf told shareholders this week that the bank plans to repay $25 billion to the U.S. Treasury’s Troubled Asset Relief Program as soon as possible.

Printed Earlier

All tickets for the golf tournament were printed when the bank said in February that it would take its name off the marquees and stop entertaining clients on the grounds. On the event’s official Web site, all mentions of Wachovia have been replaced with “the Championship.”

Entertaining clients during the tournament could “send mixed signals about our priorities to many of our stakeholders,” Wells Fargo said when announcing its plans. Wachovia’s contract to sponsor the tournament runs through 2014.

The Charlotte-based championship, which didn’t sell all of its tickets this week for the first time, is more fortunate than other events. It’s now named for the host course, the Quail Hollow Club.

Ginn Resorts, based in Celebration, Florida, ended its sponsorship of the 50-and-over Champions Tour’s Ginn Championship. The company also cut its ties with the LPGA’s Ginn Open.

The Quail Hollow winner will receive $1.2 million of the tournament’s $6.5 million purse, which increased by $100,000 from 2008.

Golf Is Hit

Golf has been hit particularly hard around the world.

UBS AG, Switzerland’s second-largest bank, said in March that it will stop sponsoring the Hong Kong Open after this year’s tournament is played November.

Jim Remy, president of the PGA of America, today defended the sport in a letter to USA Today, three weeks after the newspaper ran a column denouncing golf as a representative of “what’s wrong with the USA.”

Golf is a “vital part of America’s fabric” and “most important in these times, a source of stable employment” for more than 55,000 club pros, managers and course superintendents, Remy wrote.

“I think golf has been unfairly targeted but it has been targeted,” said Kym Hougham, director of the tournament. “Everybody is dealing with it differently.”

In other sports, the Chicago Cubs had sued Under Armour Inc. after the sports apparel-maker pulled out of its five-year, $10.8 million contract with the team. The team dropped the suit in April, after the company renewed the agreement, according to the Chicago Tribune.

Yankees Price Cut

The New York Yankees, baseball’s most successful franchise, slashed season-ticket prices for a few hundred premium seats to $1,250 from as much as $2,500 a game after the team played several games in its new $1.5 billion Yankee Stadium in front of rows of empty seats.

DHL, which sponsors Major League Baseball’s monthly and yearly “DHL Delivery Man” awards, ended an agreement with the Atlanta Braves in November, soon after the Deutsche Post AG unit had fired 14,900 workers and closed three-quarters of its outlets because it failed to compete with United Parcel Service Inc. and FedEx Corp. in the U.S.

Anheuser-Busch InBev NV, the world’s biggest brewer, told General Electric Co.’s NBC television network that it plans to cut Olympic ad spending by as much as half, the Wall Street Journal reported this week.

The world economy is in its worst recession since World War II and the International Monetary Fund projects it will shrink 1.3 percent this year.

English Soccer

Still, it’s not all doom and gloom in the sports world.

English Premier League soccer club Everton signed a 10-year agreement with sports retailer Kitbag Limited today that may be worth a club-record 30 million pounds ($44.5 million).

Under the pact, the biggest commercial contract in Everton’s 131-year history, Kitbag will provide worldwide retail services for the club, operate an Everton retail brand and be responsible for shopping, mail order and the club’s online store.

As a contrast, American International Group Inc., the insurer rescued by the U.S. government, said in January that it won’t renew its $22 million-a-year sponsorship of English and European soccer champion Manchester United. British insurer Prudential Plc may replace AIG, the Sunday Telegraph reported last month.

Back on the golf course, as much as the sports sponsorship landscape is changing in places like Charlotte, one thing remains the same: Woods, winner of the 2007 Wachovia Championship, was one shot off the lead after two rounds.

To contact the reporter on this story: Michael Buteau in Atlanta at mbuteau@bloomberg.net

Last Updated: May 1, 2009 18:21 EDT



To: SiouxPal who wrote (166786)5/3/2009 8:23:27 AM
From: T L Comiskey  Read Replies (2) | Respond to of 362920
 
Ancient tsunami 'hit New York'

By Molly Bentley
Science reporter

A huge wave crashed into the New York City region 2,300 years ago, dumping sediment and shells across Long Island and New Jersey and casting wood debris far up the Hudson River.

The scenario, proposed by scientists, is undergoing further examination to verify radiocarbon dates and to rule out other causes of the upheaval.

Sedimentary deposits from more than 20 cores in New York and New Jersey indicate that some sort of violent force swept the Northeast coastal region in 300BC.
“ If we're wrong, it was one heck of a storm ”
Steven Goodbred Vanderbilt University

It may have been a large storm, but evidence is increasingly pointing to a rare Atlantic Ocean tsunami.

Steven Goodbred, an Earth scientist at Vanderbilt University, said large gravel, marine fossils and other unusual deposits found in sediment cores across the area date to 2,300 years ago.

The size and distribution of material would require a high velocity wave and strong currents to move it, he said, and it is unlikely that short bursts produced in a storm would suffice.

"If we're wrong, it was one heck of a storm," said Dr Goodbred.

Landslide or asteroid?

The origin of such a tsunami is also under debate. An undersea landslide is the most likely source, but one research group has proposed that an asteroid impact provided the trigger.

In 300BC, barrier beaches and marsh grass embroidered the coast, and Native Americans walked the shore.

Today, a wave of the proposed size would leave Wall Street and the Long Island Expressway awash with salt water.

An Atlantic tsunami was rare but not inconceivable, said Neal Driscoll, a geologist from Scripps Institution of Oceanography, who is not associated with the research. But verifying one that is 2,000 years old is tricky.

Earthquakes, underwater landslides, or a combination of the two were the most frequent Atlantic tsunami triggers, said Professor Driscoll.

The 1929 Grand Banks tsunami, in Newfoundland, which killed more than two-dozen people and snapped many transatlantic cables, was set in motion by a submarine landslide set off by an earthquake.

Dr Goodbred imagines that the New York wave was on the Grand Banks scale - three to four meters high and big enough to leap over the barrier islands; but that it did not reach the magnitude of the 2004 Sumatran tsunami.

The evidence is buried under metres of sediment in New York and New Jersey.

High-speed wave

Dr Goodbred first proposed the link between the layers of unusual debris found in sediment cores and a tsunami while studying shellfish populations in Great South Bay, Long Island.

He extracted many mud cores with incongruous 20cm layers of sand and gravel.

Their age matched that of wood deposits buried in the Hudson riverbed and marine fossils in a New Jersey debris flow in cores gathered by other researchers.

The fist-sized gravel he found in Long Island would require a high velocity of water - well over a metre per second - to land where it did, said Dr Goodbred.

Among the fossils and shells sandwiched in the organic black mud of Sandy Hook Bay, New Jersey, Marine Geologist Cecilia McHugh of Queens College, City University of New York, discovered mud balls made from red clay that matched iron-rich sediments found onshore.

The balls form their spherical shape only through vigorous reworking, said Dr McHugh, and they do not form in small storms.

"I didn't think much about it until we dated the deposit and came up with the same date that Steve did on Long Island," she said.

It prompted her to check cores extracted from the upper continental slope 200km offshore.

She discovered a 2,200-year-old layer of sand and mud, on top of sedimentary layers 8,000 to 14,000 years old.

Dr McHugh says such relatively young debris is not found that far out on the slope, and the date is close to that of the New York and New Jersey samples.

Age of a storm

The age and nature of the material make tsunami verification a challenge.

The radiocarbon dates of the debris are accurate to within a century, said Dr Goodbred. But the only evidence that a dramatic event took place thousands of years ago is common coastal debris - wood, sand, shells and rock.

Researchers must discern whether it was strewn by a tsunami or a hurricane, or another large storm, such as a "nor'easter", said Professor Driscoll.

"Understanding the origins of these deposits can be difficult," he added.

While tsunamis can occur in any ocean, they are most common in the Pacific and Indian Oceans where continental plates collide.

There, large undersea earthquakes are relatively common.

In the Atlantic, where the plates spread, tsunamis are rare, which means Atlantic tsunamis are not well studied, said Bruce Jaffe, of the United States Geological Survey.

There is little research on tsunami debris in the variety of northeast coastal environments - riverbeds, marine bays - where the New York debris layers were found. There are few modern analogues to compare them with for identification, he said.

"Grand Banks is the only unequivocal tsunami in the Atlantic on the Northeast coast because there were eye-witness accounts and the deposits matched that of other modern tsunamis," said Dr Jaffe.

To rule out the possibility of a severe storm, said Professor Driscoll, tsunami groups should collect more core samples to see whether the distribution of the debris is consistent.

Dr Goodbred said teams were planning to do just that. And this would confirm that the deposits are not quirks of local geology.

'Circumstantial evidence'

The researchers would also repeat carbon dating on cores to verify ages, said Dr Goodbred, but he has a hunch the tsunami theory will win out.

"We're building a case of circumstantial evidence that is getting harder and harder to ignore," he said.

While many geologists say a submarine landslide is the likely trigger of a tsunami, a group led by Columbia University geologist Dallas Abbot thinks a space impactor may have set off the massive wave.

Her team discovered material in the New Jersey and Hudson River cores dated to 2,300 ago, and believe it to be meteoritic in nature. This includes carbon spherules, shocked minerals, and nanodiamonds, which are produced under extreme pressures and temperatures.

"We didn't find the typical shocked quartz, but that is usual for a water impact," said Dr Abbott.

She theorised that an asteroid landed in the water off the coast of New York and New Jersey, either creating the wave directly or triggering a submarine landslide. No crater has yet been found.

Many geologists and other scientists remain sceptical of the asteroid evidence so far; but proof of an asteroid impact is not necessary to build the case for a massive wave.

As Dr Goodbred pointed out: "The tsunami story stands on its own without the impact."
Story from BBC NEWS:
news.bbc.co.uk

Published: 2009/05/03 10:48:19 GMT

© BBC MMIX