import mx.managers.CursorManager;
import flash.events.*;
private var cursorID:Number = 0;
[Embed(source="logo.jpg")]
private var waitCursorSymbol:Class;
private function initImage(event:MouseEvent):void {
cursorID = CursorManager.setCursor(waitCursorSymbol);
image1.load("logo.JPG");
}
private function loadComplete(event:Event):void {
CursorManager.removeCursor(cursorID);
}