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DEL.ICIO.USSponsor for sought new dolphin exhibit
The Atlanta Journal-Constitution
When Home Depot co-founder Bernie Marcus spent $240 million of his own money to build the Georgia Aquarium, he pledged it would be built debt-free.
And when the aquarium ended up costing a total of $290 million (not including the land donated by the Coca-Cola Co.), Marcus and his team were able to secure sponsors for the remaining $50 million.
Last week, Marcus and the Georgia Aquarium announced plans to build a $110 million expansion for a crowd-pleasing dolphin exhibit.
But who will pay for that expansion?
That’s the beauty of the Georgia Aquarium. “We realized this was going to be very expensive to operate,” Marcus said. “And we recognized it had to be self-sustaining. That’s why we added all these rental facilities, like the banquet hall, to help pay the bills.”
Marcus spoke to me right after being interviewed by CNBC’s Squawk Box, which was filming this morning from the Georgia Aquarium as well as in front of the new World of Coca-Cola.
Many major aquariums open with a mountain of debt, and then the attraction’s operating revenues can’t pay for the regular expenses, much less the debt payments.
But the Georgia Aquarium has been generating enough cash flow to pay for its operations, and then some.
“With the cash flow we have, we should be able to pay for it (the $110 million expansion),” Marcus said. “The critical factor will be to have a sponsor for it. And we will want participation from the public to help support the facility.”
Marcus would not say how much a sponsor would need to pay for the dolphin exhibit, or which companies or individuals he might be talking to.
“We have some people we are talking to, that we are actively talking to,” Marcus said. “That’s being negotiated.”
Marcus did add that the Georgia Aquarium can build and open the exhibit without a sponsor. But to make the exhibit as special as possible, it does need a sponsor.
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Comments
By RenaP
May 16, 2008 3:13 PM | Link to this
its too bad they don’t care for people as well as they care for fish in Atlanta.
How about lets forget about the dolphins for now and help out the people of Atlanta. Wasn’t that the whole pitch of the aquarium to begin with?
By Dave
May 16, 2008 4:34 PM | Link to this
Don’t you know that the aquarium will have more than a billion dollar impact on Atlanta over 5 years? Who do you think benefits from all those tourist dollars that are pouring in? Maybe the people of Atlanta??? Do you need a handout?
By Red
May 16, 2008 4:40 PM | Link to this
The city is in debt up to its neck, people getting laid off, property taxes going up, the price of gas going up, and we get dolphins? And, they are looking for sponsors for the dolphins? You must be kidding.
By Fed-Up
May 16, 2008 5:09 PM | Link to this
See this is the problem with dong anything these days, somebody is going to get upset by it…. Bring on the dolphins.. let the dummies with their Expedition and variable rate mortgages that could never afford in the first place complain somewhere else… and dont blame it on the mortgage lender, any person with half a brain can us a calculator and see what happens to their payment if interest rates go up… thy are often just to lazy to do so.. and cant bare to take any blame for it so it must be someone elses fault.
By Bruce L
May 16, 2008 5:16 PM | Link to this
RenaP & Red
You guys are idiots, at best. if the city was as responsible as the aquarium then the city would not be in debt. As far as helping out the people of Atlanta, I believe Dave answered that question leaving off one caveat, the aquarium helps the city and is helping people who are doing more than expecting a handout.
By Carlos
May 16, 2008 5:46 PM | Link to this
I agree that the Aquarium is helping the city overall. Its the idiots at city hall that mis-manage our budget which cause layoffs. I think they should have no problem finding a sponsor, the dolphin exhibit will re-energize the excitement for the aquarium like when it first open. Maybe AT&T.
By Thrash
May 16, 2008 6:02 PM | Link to this
I NEVER ONCE heard the Aquarium was built to help out people of Atlanta. It was built as a way to display the creatures of the world’s waters and study them while providing an entertaining learning experience. The aquarium has zero to do with city hall. If you’re unhappy with city hall, vote the bums out. You all vote right? If not, the stop b***.
By Steve
May 16, 2008 6:48 PM | Link to this
To RenaP - It’s all about the almighty dollar. If you can find a way to round up all the homeless people (which I assume you’re talking about), put them in a cage and charge admission, corporate sponsors will line up.
By J
May 16, 2008 7:51 PM | Link to this
RenaP, yeah they really care for these “fish” well. That’s why 3 have died already. Keep the dolphins in the ocean. I’d much rather see them there instead of in a cage. Wildlife does not belong under a pane of glass in the city.
By Mama Mia
May 17, 2008 7:32 AM | Link to this
Let the Falcons sponsor it…ask his friend Arthur Blank.
By Glenn
May 17, 2008 10:08 AM | Link to this
If Mr. Marcus had any intentions of disrespecting the city of Atlanta, the aquarium would have been built in the suburbs and this conversation would be moot.
He chose the city to help revitalize the area and bring in revenues. Can anyone imagine how bad things might actually be with the city’s finances without those additional dollars being spent downtown on hotels, shopping, and eating on Peachtree Street rather than in Cobb or Gwinnett Counties?
Mr. Marcus could have just as easily taken his money and walked away from the city of Atlanta; he didn’t owe anyone anything. Yet here many of you are making critical comments about his financial generosity and the educational opportunity he has afforded to many of our youth who might never see some of the magnificent ocean creatures housed at the aquarium.
For those complaining that the fish should have remained in their natural habitat, I say to you that his efforts help make the rest of us aware of their plight, and can encourage their protection and appreciation in a much more substantive way than any book or commercial could ever do.
I, for one, appreciate Mr. Marcus and all that he has done, and I am embarrassed to the point that so many ungrateful people that it might make him regret being so generous establishing this wonderful gift of water life.
By john brighten
May 17, 2008 12:23 PM | Link to this
This is so stupid. A low priority for a city on the brink. How about sending some money to the schools, Mr. Marcus?
By Macy's Great Tree Lighting
May 17, 2008 12:48 PM | Link to this
If AT&T were to sponsor anything they should sponsor the Macy’s Great Tree Lighting. Why they spent $500,000 on the Tour de Georgia is beyond me. No television coverage. The Macy’s Great Tree is covered in 150 markets nationally and its #1 on WSB on Thanksgiving night. Not to mention the 100,000 that show up. I hear the company to call to sponsor Macy’s events is www.laclaireco.com
By Dave
May 17, 2008 3:07 PM | Link to this
To John Brighten - The aquarium indirectly is sending more money to the schools: by employing people (who pay taxes), bringing in tourists that spend money (and pay tax on the stuff they buy), and increasing surrounding property values (increasing property taxes too.)
To complain about someone who has generously given the city this wonderful tourist magnet is ludicrous.
Teach someone to take care of fish and they can open aquarium. Give them a fish and they eat for a day. Give me a break!
Coca Cola sponsored the National Aquarium in Baltimore’s dolphin pavilion. Maybe they’ll do the same for their home town.
By momof4
May 17, 2008 5:26 PM | Link to this
Apparently these ingrates waiting for their handouts haven’t heard of the Marcus Institute. Recognize the name? It’s a wonderful facility helping children and families with special needs. Seems the man doesn’t just care about fish after all!
By Nemo
May 17, 2008 9:28 PM | Link to this
I literally started crying when I heard the GA Aquarium was going to include dolphins in their exhibits. Dolphins DO NOT belong in captivity. You can get information on the internet on how dolphins live in the wild. Read up and I promise, you will agree.
By Justin
May 17, 2008 11:12 PM | Link to this
Are you people seriously complaining about three fish that died? First off, the beluga whales are mammals.. secondly, the whale sharks were destined to be food before the aquarium rescued them, and the belugas were underneath a freaking roller coaster in Mexico before the aquarium rescued them. They’d be dead already. The aquarium tried to help them and let them live longer than they would have otherwise.
By Dave
May 18, 2008 7:34 AM | Link to this
Dolphins swim over 100 miles per day. I hope he’s building a tank that goes from Atlanta to North Carolina. It’s criminal to “lock up” animals for nothing more than human “entertainment”….they are punished beyond belief…sentenced to a life in prison for a crime they did not commit. All that support the aquarium…perhaps I can have your children put into prison…so I can pay to take my family to look at your sons and daughters….all in the name of “education”… Wanna see dolphins? Watch a movie about them, or go on a dolphin watching boat. Aquariums and zooz are PRISON for those forced to live there. Humans do NOT have a RIGHT to lock up animals for entertainment purposes. That is what zooz and aquariums are for…entertainment. Just ask those “locked up” inside.
By Dr. Doolittle
May 18, 2008 8:42 AM | Link to this
Do you ever get the feeling like those that object to dolphins in captivity would probably like to see dolphin suffrage? Soon we’ll have ‘chum in every pot’ instead of chicken!
By Fred
May 18, 2008 10:18 AM | Link to this
No one has complained or made point of the millions the city of Atlanta spent on securing the King papers.How many jobs would be retained or services provided with those funds. Bernie Marcus made his fortunes the old fashioned way…. He earned it. Thak him for his contributions,then you can donate to those causes you have a passion for.
By Bob
May 18, 2008 11:21 PM | Link to this
Bernie Marcus is a generous man who has enough sense to know that the form of his giving will be much more effective for THE PEOPLE WHO WANT TO WORK FOR A LIVING. The ones who just want a handout will be there from here on just wanting a handout. There’s nothing we can do to change that but keep on giving them handouts.
By Voice of Reason
May 19, 2008 8:00 AM | Link to this
Bernie needs to sponsor me! No, not really. But it does make me wonder about all these uber-rich folks blowing money on animals, when so many humans need education, shelter, food, etc. Even though, Bernie DOES DO good philanthropic work, so…
Dolphins just seem like a type that needs lots of room, so, I don’t know about this confinement for them. Good luck with it, BM.
By Concerned
May 19, 2008 1:23 PM | Link to this
If Bernie was as much concerned with the biologists that take care of the animals at the aquarium, as he was with making the almighty buck, then I would say he does good philantropic work. Maybe he isn’t aware, though I think he turns a blind eye, but the aquarium takes major advantage of the biologists love of their jobs and the animals they care for. They work 12-15 hour days sometimes 6 day work week without any compensation because most, if not all, are salary. The bonuses…if at all are minimal. They are expected to be thankful just for getting to work at Bernie’s wonderland…the Worlds Largest Aquarium!!! If Bernie opened his eyes and used some of that money to appreciate the people that work their tails off to make the animals there as happy as possible, then he could rightly wear the label of humanitarian but until then, he’s just a rich guy trying to get richer.
By Itsmeagain
May 19, 2008 1:51 PM | Link to this
This is stupid… Concerned: If they didn’t feel they were getting enough compensation, then i’m fairly certain they would go ahead and quit. And i’m sure most of them wouldn’t want their salaries taken away to be paid by the hour.
As for dolphins being kept inside of a tank, well you should think yourself lucky that it’ll be a nice big one. Dave, don’t be stupid. Of course nobody is going to build a ridiculously big tank. Now ask yourself why dolphins should be so lucky as to not be kept locked up. Is it because they’re cuter than other sea life?
And for all those people saying he should spend money on other things; Why the hell should he? Does that mean i should give my money to charity instead of opening a business because they need it? What a stupid argument. One of the great things about living in this country is that you arn’t forced to do things like that, and anyone who want’s it any different is quite frankly an idiot. If someone wants to help charity, then let them do it, but don’t say that whenever they do something which isn’t directly involved with it they are terrible people.
By Kendra Kellogg
May 24, 2008 2:54 PM | Link to this
The backlash from ocean activists will not help the city!!!! This is not only bad public relations, but it is bad for a species that is close to the endangered species list. Dolphin activists are a strong and widespread international group that have a tremendous reach across the internet and media. A dolphinarium connection will catch up to the public view of the sponsor of this project, and the city itself.
By Kendra Kellogg
May 25, 2008 12:48 PM | Link to this
Dear Maria Saporta,
I truly hope that you do a follow up to this story which could be a complex mix of the relationship between all of those involved in the opening of the Dolphinarium. The realities of this story are full of good intentions, hypocrisy, non-profit development and corporate stewardship gone awry.
Coca-cola, who donated the land to the aquarium with good intentions, has a strong relationship to the World Wildlife Fund, which is currently on a campaign to keep wales and dolphins in the wild. Home-depot, who gave the original endowment to the Aquarium, is equaly involved in environmental sustainability. Why are they not protesting the building of a Dolphinarium, when bottlenose dolphins (the species that is found in amusement parks) have been declared endangered, mostly due to human interaction?
Has the Georgia Aquarium gone too far? That is a question that would make a great article. How would any business, corporation or individual sponsor the dolphinarium when it would be in direct contradiction to the corporate missions of its neighbors on Pemberton Plaza?
Please consider writing a follow up article about what you are seeing in this comment thread.