Sponsor Spotlight -- GE Explains Olympic Interest; BP Supports Fair Play Award

Olympic Growth for GE

GE’s Olympic partnership is all about growth outside the U.S., says Peter Foss, the conglomerate’s president of Olympic sponsorship and corporate sales.

Last week, GE president and CEO Jeff Immelt celebrated 10 years leading the U.S.-based company. During his tenure, GE secured and renewed its sponsorship of the Games.

Foss tells Around the Rings that for Immelt, the Olympics is a way to grow internationally.

"The Olympics is one of the most recognized and iconic brands in the world. So, the Olympics became a great partner for us to take us into areas of the world where we weren’t known that well and we could ride their coattails," he says.

"China’s a great example. The awareness of our company there is much greater than it was before," Foss added in reference to the 2008 Beijing Games.

This summer, GE extended its sponsorship with the IOC IOC through 2020. Immelt said the Olympics allow the company to promote its different products.

"We are proud to be extending our partnership with the Olympic movement for another eight years. The Olympic Games provide a unique opportunity to showcase our innovative technologies and services," Immelt said in a statement.

BP, USOC Team Up

BP is now the presenting partner of the U.S. Olympic Committee’s "Jack Kelly Fair Play Award."

Honoring the former USOC president and Olympian Jack Kelly, the award is given to an athlete, coach or official to recognize their his or her play or sportsmanship.

"This award recognizes athletes and individuals who may be in a difficult position, but regardless of the consequences, step up and take action to do the right thing," said Luc Bardin, BP’s chief marketing officer.

"It's a testament to the honesty, integrity and courage of these athletes, three fantastic values which we hold deeply. It makes us particularly proud to partner with this very special award," he added.

Former recipients include track and field star Jackie Joyner-Kersee as well as cyclists Lance Armstrong and Erin Mirabella. The next award will be presented Friday at the U.S. Olympic and Paralympic Assembly in Colorado Springs, Colorado.

BP has been the USOC’s energy partner since Feburary 2010. USOC CEO Scott Blackmun noted that the company has been involved with a number of programs like the Warrior Games, where injured or wounded servicemen and women compete.

"The significance of BP's support of the U.S. Olympic and Paralympic Movements goes beyond their generous sponsorship," Blackmun said.

"BP is committed to making a lasting impact through its support of a variety of USOC programs, including the Warrior Games presentedby Deloitte, the reduction of the USOC's carbon emissions, and now, the Jack Kelly Fair Play Award."

Kelly earned a bronze medal in single-scull rowing in 1956 and was an eight-time U.S. national champion. He passed away in 1985.

Meteorological Buoy Provides Data for Sailing Events

The British company Planet Ocean will provide meteorological equipment for the London 2012 sailing events.

According to HydroInternational, the DB-300-ODAS 3m diameter ocean data buoy will be used throughout the Games to provide key data.

Organizers will receive real-time weather and wave information from this buoy that is filled with foam and thus unsinkable.

Tiffanys and U.S. Ski and Snowboard Association

Jewelry manufacturer Tiffany & Co. hosted Winter Olympians at its flagship store in New York on Tuesday.

The "Breakfast at Tiffany" event commemorated the company’s new U.S. Ski and Snowboard Association sponsorship.

Dow Quarterly Dividend

Olympic sponsor Dow Chemical has announced a quarterly dividend of 25 cents per share.

The dividend will be paid on Oct. 28 to shareholders of record on Sept. 30. Dow has issued cash dividends every year since 1912.

Written by Ann Cantrell.