Financial Crisis Cuts into Fourth Festivities

Published November 20, 2014

WASHINGTON -- The financial crisis has affected everything including the Fourth of July as some towns won't be lighting the night sky with traditional fireworks displays.

A number of cities and towns have been forced to pull the plug because of tight budgets and even Dallas almost lost its fireworks when organizers couldn't find enough corporate sponsors. A last-minute donation saved the show, although it'll be held on July 5.

Cedar Grove, N.J., Mayor Robert O'Toole and his son, State Sen. Kevin O'Toole, are splitting the $7,000 cost themselves.

Liberty Mutual Insurance Company ran an online contest and then awarded $10,000 grants to 10 cities to help them continue their July Fourth celebrations.

The fireworks industry itself seems to be nearly recession proof. Industry sales last year were just under a billion dollars.

URL

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