Difficulties With The Fair
Local hotels and other accommodations were not allowed to take reservations directly. Room reservations for everything from hotels to houseboats sold in a package with fair admission tickets through the first 11 days of the fair, handled by a central bureau, Knoxvisit. However, financial and administrative troubles pushed reservations to be taken over by PLM, which itself filed for bankruptcy and was mired in its own difficulties.
After Jake Butcher's United American Bank failed the year after the fair (on February 14, 1983, when the Federal Deposit Insurance Corporation took over the bank due to irregularities in financial records), there was speculation that the failure was due in part to his financing of the World's Fair.
Read more about this topic: 1982 World's Fair
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