It would seem that the long suffering British taxpayer may end up having to foot the bill for every major venue for the unwanted London 2012 Olympic Games.
For why?
Private finance has dried up.
That at least is the view of John Armitt, the chairman of the Olympic Delivery Authority. He has come clean, and admitted that no private sector money can be found for the £1BN Olympic village (which itself is already over budget by £326M).
Those of you with long memories may well recall that when Britain convinced the IOC that we were capable of putting this together, the total "budget" for the games stood at less than £4BN. Currently it now stands at £12BN (including £2BN running costs), and is likely to continue to rise.
Armitt is quoted in the Independent:
"Clearly, if we finally finished up with no private sector investment in the village, that would require a further contribution from the public sector.
At the moment we're still in negotiation, and we're still optimistic that we'll get to a point where we've got a private sector offer on the table and contribution to the village."
He then added that there may well be a complete failure of private sector funding for the village.
The 2012 London Games will stand as a monument to the folly, arrogance and ego of ZaNuLabour, which foisted them on to an unsuspecting and docile public several years ago.
Olympic Medals won during the Beijing 2008 Olympics
Don't forget to visit www.theolympicswarehouse.com
www.olympicsdiary.com brought to you by www.kenfrost.com "The Living Brand"
Friday, 30 January 2009
Tuesday, 27 January 2009
"Irresponsible" Pubs To Be Shut
Cllr Colin Barrow, leader of Westminster City Council, has warned that "irresponsible" pubs will be shut in the run up to the 2012 Olympics.
Cllr Barrow has also threatened to find out which venues have served drunks.
Could he define exactly what constitutes "drunk" and "irresponsible"?
In the event the 2012 Olympics actually happens, and London accommodates millions of sports fans, there are a number of more pressing issues that the council and tourism industry need to address eg:
-The trains, buses and tubes work and run beyond midnight
-There are clean and numerous facilties such as toilets in London
-The pubs, clubs and other night spots are open for trade late into the night
-Hotels don't rip people off with extortionate charges and lousy substandard rooms/service
In other words, London has to be made far more welcoming and tourist friendly than it currently is.
Olympic Medals won during the Beijing 2008 Olympics
Don't forget to visit www.theolympicswarehouse.com
www.olympicsdiary.com brought to you by www.kenfrost.com "The Living Brand"
Cllr Barrow has also threatened to find out which venues have served drunks.
Could he define exactly what constitutes "drunk" and "irresponsible"?
In the event the 2012 Olympics actually happens, and London accommodates millions of sports fans, there are a number of more pressing issues that the council and tourism industry need to address eg:
-The trains, buses and tubes work and run beyond midnight
-There are clean and numerous facilties such as toilets in London
-The pubs, clubs and other night spots are open for trade late into the night
-Hotels don't rip people off with extortionate charges and lousy substandard rooms/service
In other words, London has to be made far more welcoming and tourist friendly than it currently is.
Olympic Medals won during the Beijing 2008 Olympics
Don't forget to visit www.theolympicswarehouse.com
www.olympicsdiary.com brought to you by www.kenfrost.com "The Living Brand"
Monday, 26 January 2009
Rogge In Denial
The International Olympic Committee (IOC) president, Jacques Rogge, has rather bizarrely claimed that the London 2012 Olympics has not overshot its budget.
This is rather an "odd" statement given that the original "budget" for the games was £3.4BN, it currently stands at £12BN (including £2BN running costs) and is likely to rise further.
Rogge clearly does not have good grasp of financial matters.
He went on to claim that, despite the recession, the scale of the Games should not be rolled back.
Maybe he will help make up the shortfall out his personal finances?
Olympic Medals won during the Beijing 2008 Olympics
Don't forget to visit www.theolympicswarehouse.com
www.olympicsdiary.com brought to you by www.kenfrost.com "The Living Brand"
This is rather an "odd" statement given that the original "budget" for the games was £3.4BN, it currently stands at £12BN (including £2BN running costs) and is likely to rise further.
Rogge clearly does not have good grasp of financial matters.
He went on to claim that, despite the recession, the scale of the Games should not be rolled back.
Maybe he will help make up the shortfall out his personal finances?
Olympic Medals won during the Beijing 2008 Olympics
Don't forget to visit www.theolympicswarehouse.com
www.olympicsdiary.com brought to you by www.kenfrost.com "The Living Brand"
Thursday, 22 January 2009
Contingency Fund
The government has released £496M from the £2BN Olympics contingency fund.
The government is sticking to the line that there is sufficient contingency within the £12BN "budget".
We shall see.
Olympic Medals won during the Beijing 2008 Olympics
Don't forget to visit www.theolympicswarehouse.com
www.olympicsdiary.com brought to you by www.kenfrost.com "The Living Brand"
The government is sticking to the line that there is sufficient contingency within the £12BN "budget".
We shall see.
Olympic Medals won during the Beijing 2008 Olympics
Don't forget to visit www.theolympicswarehouse.com
www.olympicsdiary.com brought to you by www.kenfrost.com "The Living Brand"
Tuesday, 20 January 2009
Olympics Could Cost Wales £100M
Welsh Heritage Minister, Alun Ffred Jones, has claimed that Wales could lose £100M of diverted lottery money to the 2012 Olympics.
He told the Commons Welsh Affairs Committee, as per Wales Online:
"There's a downside, of course, in terms of lost Lottery funding and that's been estimated at £70m.
With the extra money the Lottery could have pulled in, that could be as high as £100M."
The reality that regional MPs need to face is that now that the government has saddled itself and us with the white elephant of the games, it will do everything in its power to avert a PR disaster. That means that money will be diverted from all other areas in order to paper over the cracks of a badly budgeted and badly organised event.
Olympic Medals won during the Beijing 2008 Olympics
Don't forget to visit www.theolympicswarehouse.com
www.olympicsdiary.com brought to you by www.kenfrost.com "The Living Brand"
He told the Commons Welsh Affairs Committee, as per Wales Online:
"There's a downside, of course, in terms of lost Lottery funding and that's been estimated at £70m.
With the extra money the Lottery could have pulled in, that could be as high as £100M."
The reality that regional MPs need to face is that now that the government has saddled itself and us with the white elephant of the games, it will do everything in its power to avert a PR disaster. That means that money will be diverted from all other areas in order to paper over the cracks of a badly budgeted and badly organised event.
Olympic Medals won during the Beijing 2008 Olympics
Don't forget to visit www.theolympicswarehouse.com
www.olympicsdiary.com brought to you by www.kenfrost.com "The Living Brand"
Thursday, 15 January 2009
Another One Bites The Dust
Another Olympics sponsor has bitten the dust, thanks to the recession.
Nortel, the telecoms equipment company has filed for bankruptcy protection today in a move affecting around 2,000 UK staff. Nortel UK is a £40M "tier one" sponsor of London's 2012 Olympics.
The London Olympic organising committee (Locog) appears to be "relaxed" about the matter. They are quoted in The Independent:
"We are aware of the situation and will work through it with Nortel."
Nortel currently employs around 30,000 people across 30 countries.
Olympic Medals won during the Beijing 2008 Olympics
Don't forget to visit www.theolympicswarehouse.com
www.olympicsdiary.com brought to you by www.kenfrost.com "The Living Brand"
Nortel, the telecoms equipment company has filed for bankruptcy protection today in a move affecting around 2,000 UK staff. Nortel UK is a £40M "tier one" sponsor of London's 2012 Olympics.
The London Olympic organising committee (Locog) appears to be "relaxed" about the matter. They are quoted in The Independent:
"We are aware of the situation and will work through it with Nortel."
Nortel currently employs around 30,000 people across 30 countries.
Olympic Medals won during the Beijing 2008 Olympics
Don't forget to visit www.theolympicswarehouse.com
www.olympicsdiary.com brought to you by www.kenfrost.com "The Living Brand"
Wednesday, 14 January 2009
B&Q Ends Olympic Sponsorship
In the face of the worsening recession, B&Q have announced that they are ending their sponsorship of Olympic athletes.
B&Q have also ended their sponsorship of the British Olympic Association.
Jacqueline Caston, the external relations manager at B&Q, is quoted in the Telegraph:
"We enjoyed great internal, motivational success through our partnership with Team GB, but decided not to continue the partnership past the contractual end date of Dec 31, 2008."
Olympic Medals won during the Beijing 2008 Olympics
Don't forget to visit www.theolympicswarehouse.com
www.olympicsdiary.com brought to you by www.kenfrost.com "The Living Brand"
B&Q have also ended their sponsorship of the British Olympic Association.
Jacqueline Caston, the external relations manager at B&Q, is quoted in the Telegraph:
"We enjoyed great internal, motivational success through our partnership with Team GB, but decided not to continue the partnership past the contractual end date of Dec 31, 2008."
Olympic Medals won during the Beijing 2008 Olympics
Don't forget to visit www.theolympicswarehouse.com
www.olympicsdiary.com brought to you by www.kenfrost.com "The Living Brand"
Tuesday, 13 January 2009
Home Office Jeopardises Olympics Security
The Telegraph reports that police are concerned that the failure of the Home Office to deliver a £600M security plan (deadline last September, but postponed to some time in 2010) threatens the security of the 2012 London Olympics.
Given the government's predisposition to harp on about the ongoing terrorist threat, this reluctance to come up with a plan may seem somewhat surprising. However, the Olympics budget (currently £12BN, including £2BN running costs) is out of control and the government is broke.
Quite simply, there is not the money available to cover all aspect of the games. Therefore the government is taking shortcuts within the areas that they hope will not be seen on TV.
The fundamental purpose of the games is to provide the government with a PR "spectacular", all other issues relating to the games will come second.
Olympic Medals won during the Beijing 2008 Olympics
Don't forget to visit www.theolympicswarehouse.com
www.olympicsdiary.com brought to you by www.kenfrost.com "The Living Brand"
Given the government's predisposition to harp on about the ongoing terrorist threat, this reluctance to come up with a plan may seem somewhat surprising. However, the Olympics budget (currently £12BN, including £2BN running costs) is out of control and the government is broke.
Quite simply, there is not the money available to cover all aspect of the games. Therefore the government is taking shortcuts within the areas that they hope will not be seen on TV.
The fundamental purpose of the games is to provide the government with a PR "spectacular", all other issues relating to the games will come second.
Olympic Medals won during the Beijing 2008 Olympics
Don't forget to visit www.theolympicswarehouse.com
www.olympicsdiary.com brought to you by www.kenfrost.com "The Living Brand"
Tuesday, 6 January 2009
Rip Off Tourism Industry
The British tourism industry, never shy to rip people off, is no doubt rubbing its hands in glee waiting for the 2012 London Games.
Jerome Touze, of Where Are You Now?, believes that accommodation costs are "extortionate":
"For people who will be coming from other countries where their economy isn't very strong, how will they feel coming to a country where the cost of accommodation is extortionate?"
Indeed there can be little doubt that the cost/quality of many hotels in London is a disgrace. The Olympics will provide them an opportunity to rip people off even further.
Olympic Medals won during the Beijing 2008 Olympics
Don't forget to visit www.theolympicswarehouse.com
www.olympicsdiary.com brought to you by www.kenfrost.com "The Living Brand"
Jerome Touze, of Where Are You Now?, believes that accommodation costs are "extortionate":
"For people who will be coming from other countries where their economy isn't very strong, how will they feel coming to a country where the cost of accommodation is extortionate?"
Indeed there can be little doubt that the cost/quality of many hotels in London is a disgrace. The Olympics will provide them an opportunity to rip people off even further.
Olympic Medals won during the Beijing 2008 Olympics
Don't forget to visit www.theolympicswarehouse.com
www.olympicsdiary.com brought to you by www.kenfrost.com "The Living Brand"
Monday, 5 January 2009
Lottery Money Syphoned Off
The lottery company's, Camelot, official records show that it passed on £1.258BN to the lottery's Good Causes fund in 2007/08.
Out of that, the cash strapped Olympics 2012 (ie the Olympic Lottery Distribution Fund) received £147M.
Why is lottery money being used to prop up this white elephant?
Olympic Medals won during the Beijing 2008 Olympics
Don't forget to visit www.theolympicswarehouse.com
www.olympicsdiary.com brought to you by www.kenfrost.com "The Living Brand"
Out of that, the cash strapped Olympics 2012 (ie the Olympic Lottery Distribution Fund) received £147M.
Why is lottery money being used to prop up this white elephant?
Olympic Medals won during the Beijing 2008 Olympics
Don't forget to visit www.theolympicswarehouse.com
www.olympicsdiary.com brought to you by www.kenfrost.com "The Living Brand"
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