I think the <b> was on purpose, but he forgot the </b> tag. In any case, it's a horrible mish-mash of styles and an obsolete <font> tag.
So cliean it up properly: move the JS events to the <A> tag. And use style in place of the <font> and <b> tags.
And not strictly necessary but a good idea: Put in some alternate fonts in case user doesn't have Georgia on his/her machine.
p.s. to Philip: LOL on that quote!
style="text-decoration: none; color: black; font-family: Georgia, Verdana, sans-serif; font-weight: bold;"
onmouseover="this.style.color = 'red';"
onmouseout="this.style.color = 'black';"