Quarterly Earnings; McDonald's Menu Change; Chinese Sponsors

U.S. TOP Sponsors Report Quarterly Earnings

General Electric says its earnings are up 21 percent for its second quarter.

GE, which provides energy, healthcare, water treatment and transportation systems for the Olympics, reported a profit of $3.76 billion, or 35 cents a share, for the second quarter.

Revenue dropped by 3.5% to $35.63 billion, but was up by 7 percent excluding the loss of revenue from the sale of its majority position in NBC Universal.

"We are very encouraged by second-quarter orders and earnings momentum across the company," said Chairman and CEO Jeff Immelt. "We are optimistic about our growth prospects in the second half and beyond."

McDonald’s also reported strong second quarter earnings, thanks to its international growth.

Global sales increased by 5.6 percent, led by 5.9 percent growth in Europe and 5.2 percent in Asia Pacific, the Middle East and Africa.

Operating income increased by 24% in Europe led by robust performance in France, the U.K. and Russia.

"I am pleased with our second quarter performance and confident that the united efforts of our owner-operators, suppliers and employees will drive profitable growth for our shareholders over the long term, despite the continuing challenges of our economic environment," said CEO Jim Skinner.

The Dow Chemical Company had sales of $16 billion in the second quarter, the second highest quarter in the company’s history. The company also reported a sales increase of 18 percent, and in emerging countries, sales reached $4.9 billion, a new quarterly record for Dow.

"This marked another quarter of tremendous progress for Dow," said Andrew N. Liveris, Dow’s chairman and chief executive officer. "We delivered significant and broad-based top-line growth, and reached a new quarterly sales record in emerging geographies."

Visa said on July 27 that its third quarter profit rose 40 percent.

The company reported that income for the three months jumped to $1 billion, or $1.43 a share, from $716 million, or 97 cents, over last year.

McDonalds Cuts Down on Fries

The fast food chain and Olympic sponsor will roll out healthier menu items this September.

A new happy meal will include a quarter cup of apple slices, a smaller portion of fries and a choice between a hamburger, cheeseburger and chicken nuggets.

McDonald's also promised that by 2020, the chain will reduce added sugar, saturated fat and calories through varied portion sizes and reformulations.

The company will offer new in-restaurant, website and mobile communications, and marketing vehicles opening access to nutritional information.

Chinese Sponsors

Hilton HHonors, the loyalty program for Hilton Worldwide’s brands, is the official hotel sponsor of the Chinese Olympic Committee through 2019.

It is the first time a multinational hotel company has supported the team and the company is one of two multinational sponsors.

"Our eight year sponsorship of the Chinese Olympic Committee underscores our commitment to the people of China, and the Olympic Movement, and gives our guests an opportunity to enjoy the Games wherever they are in the world," said Christopher J. Nassetta, president and CEO.

Hilton HHonors will provide financial support, reward points, renovations at athlete training sites, hospitality services for athletes and their families and discounted hotel accommodations for athletes and their families.

ANOC will be the exclusive tea drink sponsor of China’s Olympic swimming team for the next two years.

ANOC, which provides sales and distribution of all natural zero calorie food and beverage by the GLG Life Tech Corporation, will be a sponsor for London 2012.

"The national swim team in China has commanded a lot of media and consumer interest as they are developing into world class competitors in their events against traditional strong countries such as the US and Australia," said Katzu Cheng, ANOC’s president, in a news release.

Bogner to Clothe German Olympians in London

Team Germany will march into the opening ceremony of the London Olympics wearing clothes designed by one-time Munich 2018 CEO Willy Bogner.

Bogner runs the eponymously-named sportswear brand.

"We are pleased with Bogner to have a partner at our side, where the Olympic context of his commitment to German Olympic teams in the Winter Games is very familiar," German Olympic Committee president Thomas Bach said Wednesday in a statement coinciding with the one-year-to-go mark to the Games.

Bogner designed the 2010 German team uniforms.

Samsung Electronics Under Investigation

Samsung Electronics is under investigation by Korea’s National Tax Service.

According to The Korea Herald, the investigation is part of standard probes launched every four years, but the publication pointed out that the authorities were sent from Seoul, and not the provincial tax office, which could be an indicator of tough economic times for the company.

Bank Sponsors T&T Olympic Committee

Scotiabank Trinidad and Tobago Limited is entering a four-year partnership worth $400,000 with the Trinidad and Tobago Olympic Committee.

Managing Director of Scotiabank T&T Limited, Richard Young said the initiative was a way for the bank to support athletics, according to Guardian Media.

"It is really a strategic partnership which will allow the bank to lend support to local athletes who will be representing T&T at the upcoming Olympics," said Young.

InterContinental Hotels Group Salutes Pyeongchang

The InterContinental Hotels Group congratulated Pyeongchang for winning the bid for the 2018 Winter Olympics.

"Pyeongchang’s triumph is great news … Korea has a great track record for hosting major international sporting events and this will be another big milestone for the nation," said Clarence Tan, COO of IHG in Japan and Korea.

IHG developed much of the Alpensia resort, where PyeongChang’s alpine events will take place.

Written by Ed Hula III.