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marmar

(77,084 posts)
Sun Jun 24, 2012, 08:51 PM Jun 2012

London Olympics to Be Most Over-Budget Games Since Atlanta 1996


(Bloomberg) The London 2012 summer Olympics are on course to be the most over-budget games for 16 years after organizers failed to forecast demands for security and private investment, according to a study by the University of Oxford.

The sports-related expense of hosting in the British capital is likely to cost more than twice the original estimate, researchers from the university’s Said Business School said in a paper. That’s the most since the 1996 summer Olympics in Atlanta, when costs overran by 147 percent.

“The Olympics overrun with a 100 percent consistency,” Bent Flyvbjerg, who co-authored the research, said in an interview. “You reach a point of no return seven years before the games where you commit to delivering and writing this blank check. You can’t trade off time with money in the Olympics.”

London beat Paris and New York to host the games, which begin July 27. The U.K. government tripled its first budget to 9.3 billion pounds ($14.5 billion) after failing to get companies to finance and develop the main site. The security budget doubled to 553 million pounds last year as a review found that an original estimate of 10,000 guards was short by nearly 14,000 people. ............(more)

The complete piece is at: http://www.bloomberg.com/news/2012-06-24/london-olympics-to-be-most-over-budget-games-since-atlanta-1996.html



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London Olympics to Be Most Over-Budget Games Since Atlanta 1996 (Original Post) marmar Jun 2012 OP
An Olympics going over budget ? Unpossible! n/t PoliticAverse Jun 2012 #1
They should bring in the Mittster to save the day!!! femmocrat Jun 2012 #2
It's time to stop the nonsense that is the Olympics. GoneOffShore Jun 2012 #3
So Atlanta was the most recent high at 147? Blue_Tires Jun 2012 #4
Sorry to offend but DonCoquixote Jun 2012 #5

Blue_Tires

(55,445 posts)
4. So Atlanta was the most recent high at 147?
Sun Jun 24, 2012, 09:03 PM
Jun 2012

But later in the article they say the AVERAGE overrun is 179 percent??

DonCoquixote

(13,616 posts)
5. Sorry to offend but
Mon Jun 25, 2012, 03:47 AM
Jun 2012

The world is still freaked out about the Chinese games. On the one hand, China showed they were willing to do incredible things to get the Olympics. On the other hand, much of what they did backfired on them horribly. They built a cool stadium, then jailed the architect for dissidence. They made an incredible opening show, but it showed them as a mass, looking too much like the Berlin games in WW2. They tried modernizing the city, they tore down antiquities and made their smog worse. They had a special Olympian carry the torch, Pro Tibet protestors attacked her to the cheers of the French.

Some of this is because China's attempt to take up the mantle of the new Superpower has not managed to hide serious problems that they are trying to avoid, such as it's human rights abuses and the fact that many Chinese have gotten pushed to the sidelines.

On the other hand, a lot of it is the hard cold fact that the West is not ready to see Asians as equals. Japan softened that a bit by making cars, video games, anime and other toys, while China is big enough to be an actual THREAT, and is therefore, hated.

What does this have to do with London, you ask? Very simple, this is where England, and by proxy, the English speaking world, to take back the Cultural dominance of the world. They are bringing out the Who and the Stones, possibly Pink Floyd, they will showcase the culture that is loved and known throughout the world, even if a lot of it was done at gunpoint, and at the expense of the British subjects themselves. The Royal family will be there, as will many proud subjects. Even England's enemies, The French and Germans, will play their part, as they do not want to have to compete with non Europeans for cultural dominance.

The knife will be twisted deep enough with the fact that Brazil has the World Cup, and they will have the next summer Olympics. Furthermore, Brazil, like China, is also feeling her muscles, especially because, after European teams treated non European soccer players like scum, they will love to grind the point home that the world is not going to bow to Europe and it's cultural satellites, which yes, Canada and the US are.

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