CHEVROLET CENTRE Time line

May 2005: Officials with International Coliseums Co., a Global Entertainment Corp. subsidiary, estimate the Chevrolet Centre’s 2006 profit at $1.15 million.

October 2005: The center officially opens with a Three Doors Down concert with 4,042 in attendance. The facility could have held 5,500 for the show. The next day, a Tony Bennett concert attracts 3,230.

December 2005: Jeff Kossow quits as the center’s executive director.

January 2006: Global names Roger Swanson as interim replacement.

February 2006: ICC officials admit sales and profit goals were overestimated.

March 2006: Global names Matt Hufnagel as executive director.

April 2006: City officials inform ICC that the company failed to include a $1.50 parking fee on tickets to most center events during the facility’s first six months of operations.

June 2006: The center’s management lowers the first fiscal year profit projection to $652,264.

July 2006: The city restructures the center contract with a key provision being Global would guarantee a $600,000 annual payment to the city, effective in September 2007, if the facility failed to earn that amount in profit each fiscal year. Without the provision, city officials say they would have fired the company.

September 2006: The center finishes its first fiscal year with a $23,653 loss.

October 2006: Global predicts a $629,954 profit for the center’s second fiscal year.

December 2006: Hufnagel resigns after $700 in on-site parking money is missing.

January 2007: Global names Tommy Scott as interim executive director.

February 2007: Global’s financial estimates for the first quarter of its second fiscal year, October to December 2006, is only 40 percent of what the company projected.

April 2007: Global names Tim McGrath as the center’s executive director, the fifth person to hold the job in less than two years.

May 2007: Global’s estimate for the second quarter, January to March, was 6 percent of what the company predicted. McGrath reiterates to city council that Global is guaranteeing at least the $600,000 payment to Youngstown.

August 2007: Global again fails to meet its financial projection. The company had predicted an $88,424 deficit for April to June. The loss is actually $205,215.

September 2007: ICC fails to pay $600,000 to the city and files a federal lawsuit claiming changes made by the city caused the company to lose money managing the center.

Source: Vindicator files, city of Youngstown