The U.S. Olympic Committee this week named four Texas cities—Austin, Dallas, Houston, and San Antonio—on its initial list of potential hosts for the 2024 Olympics. The group—which the New York Times reports is “far more inclusive than usual”—includes 35 American cities ranging in size from Rochester (population 210,000) to New York City (population 8.2 million).
According to the Times, several cities on the list are “virtually disqualified by the requirements” imposed on host cities, such as having at least 45,000 hotel rooms, a large public transportation system, and a workforce of 200,000 people to build housing and other facilities. Of the four Texas cities, only Houston would meet the hotel requirement, with 60,000 available rooms.
The Bottom Line: The USOC has two years to choose a city to represent the U.S. in the global bidding campaign, and the International Olympic Committee will choose the host in 2017.
JCP: Up in Coke
Still reeling from an ill-fated shift in retail strategy, J.C. Penney has enlisted the help of a seasoned expert in that area: Sergio Zyman, the mastermind behind the infamous New Coke debacle of the ’80s. The Plano-based retailer has been in a financial tailspin since CEO Ron Johnson came aboard in late 2011, and this week the company reported a 32 percent decline in same-store sales for the fourth quarter.
In a conference call, Johnson said he has hired Zyman to consult on JCP’s marketing efforts. As Business Insider points out, Coca-Cola’s failed attempt to replace