Olympic Briefs -- Panasonic Woes, Phelps Developments, U.S. Military Helps Vancouver

Panasonic Cuts Jobs Ahead of Losses

TOP sponsor Panasonic says it plans to cut 15,000 jobs worldwide in response to falling demand for televisions and cameras. The two product lines are integral elements of the company’s Olympic sponsorship.

The announcement comes amid forecasts of a $4.3 billion loss when the fiscal year ends March 31. Panasonic says sales are down about 15 percent.

Panasonic supplies TV screens for use throughout Olympic venues as well as equipment used in by the host broadcasting operation.

Other TOP sponsors are also battling the downturn, facing slumping sales and declining profits. GE reported a 43 percent drop in earnings for 2008. Samsung recorded a 44 percent decline in third quarter profits and its first operating loss since becoming a publicly traded company in 2000. McDonald's beat Wall Street expectations for fourth quarter sales, but reported sales declines in Europe and China.

FINA Affirms Support for Phelps

Swimming's international federation, FINA has expressed its support for Michael Phelps in a statement released today.

"As a citizen, Michael Phelps displayed inappropriate behavior, but his sincere regret and the promise that such a situation will not happen again are sufficient guarantees that this great star will continue generating respect and appreciation to all fans of our sport around the globe," said FINA in the release.

FINA also stated that it expected Phelps to compete at its world championships in Rome in July as well as other international competitions.

Since the release of the photo, Phelps has received reassurance from a number of his sponsors, including Visa, Speedo and Omega.

However, Phelps is not completely out of the woods yet. The Richland County, S.C. sheriff’s department is investigating the situation and is considering criminal charges against the Olympic superstar.

The photo of Phelps taking a bong hit appeared in the British tabloid News of the World on Sunday.

U.S. Military to Assist Canada with Olympic Security

A Canadian military official says the United States will provide military assistance for security during the Vancouver Olympics.

Canadian Rear Admiral Tyrone Pile, commander of the Games Joint Task Force, was quoted by the Associated Press as saying that it was imperative the U.S. provide assistance to the Canadians.

"They have to be involved," Pile said. "We share a common border with them."

Pile said no U.S. troops would be deployed in Canada, but the U.S. Coast Guard and Navy would provide vessels for security. Due to security reasons, full details of the operation cannot be released.

Two weeks ago, an official with the Canadian military said the Vancouver security efforts would be a serious strain on armed forces currently deployed in the Iraqi and Afghani wars.

Pile, however, claims efforts both domestic and abroad would be "appropriately resourced."

Publicans Want Later Last Call for Games

One of the U.K.'s leading firms that secures pub licenses has urged the British government to allow pubs to have later hours during the London Olympics.

Jeremy Allen of Popplesten Allen said the current laws ought to be loosened for events which are "of exceptional international, national or local significance."

Allen highlighted the laws in Westminster, where pubs must close at 10:30 p.m. on Fridays and Saturdays, as particularly embarrassing.

"Westminster is going to be a very important area for the leisure industry in 2012 and it is vital that later hours are obtained," Allen lamented to the Morning Advertiser, a pub trade publication. "As we come under the spotlight, what will tourists think when they try coming out of an event and are looking for a small bar to have a quiet drink before going home and find the options limited at best? This is particularly vital with the Olympics because a number of events will not finish until late in the evening."

He added, "The Olympics is [sic] a national event of huge importance and will be achieved at considerable expense to us all."

Bettman Optimistic about NHL Outlook

During a speech at a luncheon in Toronto on Tuesday, NHL commissioner Gary Bettman expressed his optimism about the state of the NHL despite the economic downturn, financial difficulties with at least one team in the league and criticisms about the level of violence in hockey.

"While I do not deny that there are some blemishes on the face of the game, I would tell you with confidence that the NHL's heartbeat is strong and vibrant," Bettman said.

Bettman stated that the NHL would most likely garner real growth of 5 to 6 percent of revenues and achieve a fourth consecutive season of record attendance.

He added that advertising contracts and TV ratings have improved over last season on Versus in the U.S. and Hockey Night Canada, TSN and RDS in Canada.

The commissioner also was confident about the prospects of the Phoenix franchise, where the team’s ownership is searching for an investor.

"Virtually every team goes through up cycles and down cycles," Bettman said.

"We don't give up on franchises and we don’t give up on their fans who invest their time and their passion and their hard-earned dollars in our teams."

...Briefs

...The Spanish men's basketball team named Sergio Scariolo as their coach for the next quadrennial. The Italian Scariolo will coach the world champs through the London Olympics.

...Behind the Scenes, Inc has signed a contract with NBC for its sixth stint as caterer for media representatives in 2010. The San Diego-based company will be responsible for food service operations for the 3,000 media representatives from the U.S. as well as services for NBC broadcasters. This includes providing food for a variety of palates as well as ensuring food safety. BTS provides catering for other large-scale events such as the Red Bull Air Races, ESPN X Games and the Super Bowl.

...Construction workers have lifted the first steel section of the Olympic Stadium's roof into place. Another 27 sections will be added over the next nine months. Upon completion, the stadium will stand over 121 ft.

Written by Ed Hula III.