Olympic Index Beats Market
|The companies on the Dow Jones Summer Games Index have a combined market capitalization of just over $2 trillion. (Getty Images)
The stock market performance of 33 publicly-traded companies that partner, sponsor, or supply the Beijing Games beats a basket of blue-chip rivals, according to a new Olympic index launched by Dow Jones.
According to the Dow Jones Summer Games Index, Beijing’s publicly traded partners have returned 34 percent since January, compared to a 10 percent return from the benchmark Global Titans 50 Index.
Microsoft carries the most weight in the new index, due to its massive market capitalization. Hong Kong IT company Capinfo Co. Ltd. rounds out the list of companies. Major companies like Tsingtao, adidas, and Bank of China are also on the list, as are the IOC TOP sponsors, minus Omega parent Swatch.
Investors cannot actually buy shares in the index – the only option for now is buying stocks from the worldwide exchanges represented on the list.
“We believe this innovative and unique market indicator will be an interesting bridge between the world of sports and the investment community through the measurement of well-known corporations from the U.S., Europe and Asia,” says Dow Jones Indexes president Michael A. Petronella. New Boss for Coke
Coca-Cola CEO Neville Isdell announced this week that he will step down from his position on July 1. Muhtar Kent, the COO who is also Isdell’s second in command, will take over in what is expected to be a “seamless transition”.
There was no word from the company if or how this will affect Coke’s Olympic sponsorship. Coke is the Games’
|Neville Isdell and Muhtar Kent.
longest-running sponsor; Beijing will mark 80 years.
Kent, 55, joined The Coca-Cola Company in 1978 and has served a variety of positions. Before becoming chief operating officer he was president of the division that oversaw China, Japan and Russia. He also recently was named to the Special Olympics’ board of directors.
Isdell has been CEO since 2004. He will remain as chairman of the board until the next shareholder meeting in April 2009.
Isdell joined the company in 1966. He served as CEO from 1992 to 2001, coming out of retirement 2004. Under his watch, Coke’s stock prices and profits have risen steadily. When asked why he decided to step down, he said “because it's the right time”. Five Sponsors for British Federations
Five more top companies have joined the FTSE-British Olympic Association sport partnership program. Each of the new companies joins with a British national governing body to pass on skills in organizational development.
Standard Life Investments is partnering with archery, Experian joins ice skating, Marks & Spencer with modern pentathlon, Accenture with sailing and O2 with taekwondo.
The new deals bring the total number of British partnerships to 15. New Sponsorship Leader at USA Cycling
Nick Adams is the new director of Sponsorship and Business Development at USA Cycling. Adams comes to the national governing body from AG Edwards and Sons, a financial consultancy. Before that, Adams worked in fundraising at the athletics departments at several universities. Homepage photo by Getty Images
Written by Ed Hula III and Maggie Lee
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