By Dave Lucas
http://stream.publicbroadcasting.net/production/mp3/wamc/local-wamc-880674.mp3
Saratoga Springs, NY – For the first time in its history, the Saratoga Performing Arts Center's entire classical season will be named for a corporate sponsor. Capital District Bureau Chief Dave Lucas reports.
An international bank is becoming a major backer of SPAC. The 2010 Summer line-up of classical music, ballet and chamber programs will be known as "The HSBC Classical Season at Saratoga Performing Arts Center." The ballet and orchestra cost roughly $2 million each to present, and end up about $1 million in the read each season. Having a major corporate sponsor softens that financial blow. HSBC is a major player in the global economy with 85-hundred offices in 86 nations. New York-based HSBC Bank USA, with 15 Capital Region branches, aims to reach local people with global interests via SPAC. Andrew Ireland, Executive Vice President and Regional President for Upstate Retail Banking for HSBC Bank USA, N.A. said in a published statement - quote - "as 'The world's local bank,' we are proud to sponsor such a world-class organization," ---SPAC and HSBC have agreed not to reveal the amount of money involved in the sponsorship deal.