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The Daily Wildcat

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The Daily Wildcat

The Daily Wildcat

 

    UApresents OK following First Magnus staff dump

    Sponsorship dollars secured by UApresents through First Magnus Financial Corp. will not be affected by the mortgage lender’s collapse.

    The two concerts the now-defunct company planned to support this year, jazz musician Herbie Hancock and violinist Itzhak Perlman, are still scheduled to take place as normal.

    “”Performances are still going to happen, and they will not be cancelled,”” said Mario Di Vetta, a public relations assistant for UApresents.

    First Magnus Financial Corp. has laid off about 700 employees in Tucson and more than 5,000 nationwide, closing more than 350 offices, according to reports from The Associated Press.

    The company was in the “”Impresario Circle,”” the top tier of UApresents sponsors, who pledge more than $25,000 a year. Di Vetta said it is against UApresents’ policy to release any specific dollar amounts.

    News of the mortgage lender’s bankruptcy comes after UApresents posted a budget surplus for the first time in six seasons.

    The $95,000 surplus is a result of several

    factors, including increased marketing and development efforts, a 40 percent surge in student participation in UApresents events, and a deferral of expenses, Di Vetta said.

    “”We’re all very happy here; we attribute it to the community,”” Di Vetta said. “”UApresents is going strong.””

    Last season, UApresents introduced discounted $10 tickets to students, faculty and UA employees and has implemented a listserv for upcoming shows.

    “”I was there when UApresents wasn’t doing too well budget-wise, and I’m glad to know things are back on track,”” said Aaron Ireland, a former UApresents employee and UA alumnus.

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