Coca-Cola Venice Sponsorship Sparks Protest

(MoneyWatch)  You're a historic city unlike any other, considered by many to be the most beautiful in the world. You're famous, you're world-renowned, and you attract 20 million tourists a year. But you're broke. You're recovering from recent floods and your buildings are crumbling. Who do you call?

The Coca-Cola Company, apparently. Coke is negotiating a $2.7 million contract with the city of Venice to install 60 vending machines in key locations.

Locals are outraged. Bar owners are afraid the machines -- which will sell snacks and sandwiches in addition to soft drinks -- will cut into their business. And other critics just think it's tacky. It's as if Venice were "selling its cultural soul" to Coca-Cola, as some have put it.

But Venice needs the money. Italy cuts its arts and culture budget in half last year, and Venice Mayor Massimo Cacciari insists the city cannot survive "by philanthropy alone." He defensively suggested the "idealists ... should have the good taste to indicate an alternative, or, even better, provide for the needs of the city from their own pockets."

According to the city council, the funds would go towards restoration and future flood prevention. Apparently the vending machines will not carry the Coca-Cola logo, and none will be on public property.

Furthermore, the deal has not been signed yet. Perhaps the protesters will prevail. But they'd better start throwing fundraisers.