P&G Ticket Giveaway; Strong Start for Dow; Massive Cuts for Panasonic

(ATR) Procter & Gamble to pass on 90 percent of ticket allotment to British public ... Samsung taps PR partner ... Dow Chemical announces first-quarter earnings ... Panasonic slashes 17,000 jobs ...

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P&G Gives Away Bulk of Ticket Allotment

TOP sponsor Procter & Gamble doesn’t like the results of an Olympic ticket survey and is taking matters into its own hands.

Research conducted on behalf of P&G reveals that 70 percent of mothers in the U.K. did not apply before London 2012’s deadline – a quarter of them because they didn’t think they stood a chance of getting tickets and another sixth because they didn’t have time.

As a result, the P&G announced Wednesday said "mums" will have another shot at scoring tickets to next year’s Games courtesy of the company’s own allotment.

"I’m so glad to hear that P&G is encouraging families to get involved," Olympic silver medalist swimmer and mother of three Sharron Davies said in a statement.

"It’s brilliant that they are giving such a massive proportion of their tickets to the public."

The consumer product giant will give away 90 percent of its share allocated by the IOC to the British public over the next six months. Any P&G purchase at a major retailer between now and Oct. 31 comes with a chance to win.

PR Firm Tapped for Samsung Sponsorship

Samsung has a public relations firm in place to help activate its TOP sponsorship ahead of London 2012.

According to PR specialist publicationThe Holmes Report, A&R Partners in Silicon Valley outpitched Olympics veteran Weber Shandwick for the job.

Based in Silicon Valley, the Edelman subsidiary already handles global smartphone communications for the Korean electronics giant and will now assume comms duties for its Olympic sponsorship, including the 2012 torch relay.

Samsung is the IOC’s exclusive provider of wireless communication equipment through Rio 2016, a relationship dating back to 1997.

Strong Start to 2011 for Dow

A boost in product prices has TOP sponsor Dow Chemical boasting better-than-expected results in its first-quarter earnings report.

The official chemistry company of the Olympic Games saw its revenue rise almost 10 percent to $14.7 billion and its net income almost 30 percent to $710 million, up 13 cents a share from this time last year.

"This quarter’s performance showed onceagain that we remain firmly on our earnings growth trajectory," Dow chairman and CEO Andrew Liveris said in a statement.

"Our focus on execution was clear as we drove significant sales increases across all geographies and all operating segments through rigorous price and volume discipline."

Dow shares climbed 40 cents to $40.32 a piece in the hours after Thursday morning’s announcement.

Based in Michigan, the chemical giant joined the IOC’s top-tier sponsorship program last July.

Panasonic Slashes 17,000 Jobs

Olympic sponsor Panasonic is cutting roughly 17,000 jobs over the next two years as part of a reorganization expected to cost the company upwards of $2 billion.

News reports indicate the Japanese electronics giant is in the midst of streamlining its operations and better incorporating recently acquired rival Sanyo, whose product offerings often overlap with its new parent company.

Panasonic said Thursday declining demand in Japan was only made worse by the March 11 earthquake and tsunami, a situation sure to speed up the company’s shift of focus away from domestic sales and toward emerging markets.

Based in Osaka, Panasonic is the IOC’s official provider of audio, TV and video equipment.

Written by Matthew Grayson.