May 30 InvestHK proposes a $1 billion fund to help restore the city's image, with $400 million slated for high-profile mega events organised by the private sector. Sept 3 Officials from the American Chamber of Commerce and InvestHK jointly announce the Harbour Fest, which will feature Santana, Westlife, Craig David and the Rolling Stones. The government pledges to underwrite up to $80 million of the event's costs. Sept 18 AmCham chairman James Thompson announces that Prince will open the festival on October 17. Oct 11 The Rolling Stones are scrubbed from the Harbour Fest bill after AmCham is unable to get the British rockers to sign their part of the contract. The Stones had apparently been unable to line up concerts on the mainland. The government agrees to pay up to $100 million to cover any shortfall. Oct 15 AmCham announces that the Rolling Stones will play Harbour Fest on November 7 and 9 after all. The band had received a deposit from the organisers but had apparently forgotten to sign the contract, according to Mike Rowse, InvestHK's director-general. Oct 20 Financial Secretary Henry Tang Ying-yen says he is disappointed by poor Harbour Fest ticket sales - as evidenced by the Tamar site remaining half-empty at some concerts, such as Craig David (pictured below) - and blames the problem on AmCham's 'layman' status as a concert organiser. But he says the chamber deserves the public's support for its efforts. Oct 27 The government releases details of the contract between AmCham and InvestHK, which shows that the chamber has already been advanced $100 million. It also grants AmCham the rights to the festival until 2008. Oct 28 It emerges that Red Canvas, the company named in the contract to handle Harbour Fest, is owned by James Thompson and his wife. Nov 2 Mr Thompson draws more criticism when he says on a local talk show that Hong Kong has neither the people nor the technology to produce a quality highlight film on Harbour Fest. He later apologises for his comments and says he was misinformed, because only the editing is being outsourced. Nov 5 The government announces that a panel of inquiry will be launched to look into the handling of Harbour Fest. Nov 15 Legislators are told the government will have to foot all of the $100 million it promised to underwrite the festival. Ticket sales brought in $48 million out of $52 million in revenue, but costs ballooned to $153 million, with $89 million spent on artist fees alone. Nov 26 At the AmCham's annual meeting to elect next year's board of governors, Mr Thompson decides to withdraw from running for ex-officio governor, a largely ceremonial post. Mr Thompson's term as chairman ends this month. Dec 12 The two-person panel of inquiry is appointed, with veteran lawyer Moses Cheng Mo-chi and accountant Brian Stevenson named to the panel.