JazzFest and Whitney Bank Announce New
Loan Program For Ticket Purchases

Cha-Ching!

NEW ORLEANS FAIRGROUNDS — Quint Davis, producer and director of the New Orleans Jazz & Heritage Festival, today announced a new program with the Whitney Bank to offer low-interest financing to individuals seeking to buy tickets for this year’s JazzFest.

Tickets for the 2009 Festival are $40 in advance, $50 at the gate. In 1996, tickets were $10 in advance, $15 at the gate.

“Every year, we hear complaints from the local community about high ticket prices,” said Davis.

“But if you want to see innovative, relevant, and of-the-moment artists like Tony Bennett and Dave Matthews Band, unfortunately you have to pay a premium.”

“For gosh sake, we’ve got Earth, Wind, and Fire this year,” he added.

According to the 47-page application document, lines of credit with a 19.99% introductory APY are available to all applicants with qualifying credit scores.

But terms and conditions apply, according to Whitney Bank CEO John C. Hope.

“The application is long, but it’s all standard boilerplate,” said Mr. Hope. “Just sign your name and you’ll be in the Fest in no time.”

“Trust us, we’re a bank,” he added.

Hope says that Whitney Bank plans to bundle and securitize the loans and re-sell them as investments to large institutional investors and foreign sovereign governments.

“We think these will be great investments,” Hope said.

“Everybody knows that a New Orleanian will always pay you back when you loan them money.”