The Public Accounts Committee (PAC) has warned (in a statement of the "bleeding obvious") that the London Olympics is facing a "worryingly tight" financial position.
The fact that the original "budget" has spiralled from £3BN to £12BN (including £2BN running costs) should have given them a clue some time ago that all was not well.
The PAC, taking into account the amount of contingency funding already set aside to cover predicted risks, noted that the ODA was left with £194M "headroom".
The final costs for this folly are likely to be around £20BN.
Olympic Medals won during the Beijing 2008 Olympics
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Wednesday, 31 March 2010
Monday, 29 March 2010
Anti Competitive
The organisers of the London 2012 Olympics have been accused of being anti competitive, as a result of their decision to ban all payments by credit cards except for Visa.
No other cards will be accepted to buy tickets, merchandise or even food and drinks.
Visa, according to The Sun, have paid £61M in sponsorships fees; part of which gives them the right to exclusivity.
Whilst it may seem ironic that a sporting competition bans competition, it should be remembered that the Olympics are not about sport but money!
Olympic Medals won during the Beijing 2008 Olympics
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No other cards will be accepted to buy tickets, merchandise or even food and drinks.
Visa, according to The Sun, have paid £61M in sponsorships fees; part of which gives them the right to exclusivity.
Whilst it may seem ironic that a sporting competition bans competition, it should be remembered that the Olympics are not about sport but money!
Olympic Medals won during the Beijing 2008 Olympics
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www.olympicsdiary.com brought to you by www.kenfrost.com "The Living Brand"
Thursday, 25 March 2010
No Political Football
AFP reports that Tessa Jowell, the Olympics Minister, told reporters at the start of a three day visit to Sao Paulo (which is hosting the 2016 Olympics) that the 2012 London Olympic Games will not be kicked around like a political football during the upcoming general election.
Of course they will!
She then added that she hoped that she would still be in charge of them after the polls.
Of course she won't!
Finally, for good measure, she said that they were "on budget".
Of course they're not!
Olympic Medals won during the Beijing 2008 Olympics
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Of course they will!
She then added that she hoped that she would still be in charge of them after the polls.
Of course she won't!
Finally, for good measure, she said that they were "on budget".
Of course they're not!
Olympic Medals won during the Beijing 2008 Olympics
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Wednesday, 24 March 2010
Tent City
Sir John Madejski, Reading Festival organiser Melvyn Benn and Andrew Cumpsty a Reading councillor are proposing plans to create a "tent city" in the Reading area during the 2012 London Olympics.
They claim that people who may not be able to get to Olympic events could be attracted to the town if giants screens were installed at the camping site.
This is a good idea for the people of Reading, for why?
So much for the Olympic's Legacy!
Olympic Medals won during the Beijing 2008 Olympics
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They claim that people who may not be able to get to Olympic events could be attracted to the town if giants screens were installed at the camping site.
This is a good idea for the people of Reading, for why?
So much for the Olympic's Legacy!
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, 23 March 2010
Ticket Issues II
Shamed by pressure from the London Assembly and general negative publicity, Locog has announced that the British public will have access to 300,000 extra tickets for the London Olympic Games in 2012.
This increase brings the total number of tickets available to eight million.
There will be a ballot in spring 2011 to allocate 75% of the tickets.
However, prices will not be revealed until this autumn.
Olympic Medals won during the Beijing 2008 Olympics
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This increase brings the total number of tickets available to eight million.
There will be a ballot in spring 2011 to allocate 75% of the tickets.
However, prices will not be revealed until this autumn.
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, 22 March 2010
Tickets
Locog has now launched www.tickets.london2012.com which enables UK and EU residents, interested in buying tickets for the London 2012 Games, to register their interest.
Tickets will actually go on sale next year.
The price of the tickets still remains a mystery. The bid process had promised some tickets at less than £30. However, Locog have indicated that this price may be too low in order for it to meet a target revenue of £441M.
Olympic Medals won during the Beijing 2008 Olympics
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Tickets will actually go on sale next year.
The price of the tickets still remains a mystery. The bid process had promised some tickets at less than £30. However, Locog have indicated that this price may be too low in order for it to meet a target revenue of £441M.
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, 19 March 2010
We're Backing China II
Olympics pin badges, depicting a landmark building in each of London's 32 boroughs and the City of London, will soon be on sale across central London.
Hoorah!
Those who "rush" to buy these badges will be happy to know that their monetary contribution will go in part to support the Chinese economy (the hosts of the 2008 Olympics).
As I recently noted, the badges are made in China.
I dare say that in 2016 the host nation will employ a British manufacturer to make their pin badges.
Olympic Medals won during the Beijing 2008 Olympics
Don't forget to visit www.theolympicswarehouse.com
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Hoorah!
Those who "rush" to buy these badges will be happy to know that their monetary contribution will go in part to support the Chinese economy (the hosts of the 2008 Olympics).
As I recently noted, the badges are made in China.
I dare say that in 2016 the host nation will employ a British manufacturer to make their pin badges.
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, 17 March 2010
Ticket Issues
Following on from concerns about British citizens being at the back of the queue for tickets to see the London 2012 Olympics, the London Assembly have asked London 2012 organisers to clarify exactly how many tickets will be available for the Olympics and how much they will cost.
The London Assembly, quite rightly, are of the view that the public needed to have faith in the ticketing system.
However, the organisers remain cagey and have stated that details will not be revealed until after the Paralympic Winter Games in Vancouver had finished.
There will be 9.2 million seats available during the event.
Olympic Medals won during the Beijing 2008 Olympics
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The London Assembly, quite rightly, are of the view that the public needed to have faith in the ticketing system.
However, the organisers remain cagey and have stated that details will not be revealed until after the Paralympic Winter Games in Vancouver had finished.
There will be 9.2 million seats available during the 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"
Tuesday, 16 March 2010
The "Green" Olympics
In an attempt to close the stable door after the horse has bolted, the London Assembly is now looking into the the environmental sustainability of staging the London Games in the hope of being able to match the extravagant promises made five years ago that London 2012 would be the greenest games ever.
The London Assembly's environment committee is examining what progress the Olympic Organising committee and the GLA are making in their green preparations.
What happens if they find that progress does not match the promises made five years ago?
Olympic Medals won during the Beijing 2008 Olympics
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The London Assembly's environment committee is examining what progress the Olympic Organising committee and the GLA are making in their green preparations.
What happens if they find that progress does not match the promises made five 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"
Thursday, 11 March 2010
Scammers
The Telegraph reports that over £2M was involved in the fraud which hit thousands of Olympic fans, including Kay Adlington, the mother of Olympic gold medallist Rebecca Adlington.
Mr JusticeTugendhat found Allan Thomas Scott, Gerardus Petrus Paulus van Meer and Terence Shepherd – who were involved in the internet company Xclusive Leisure and Hospitality Ltd – guilty of deceit and conspiring to injure by unlawful means. They were also made personally liable for the company's debts. The judge has ordered the three to pay the $500,000 costs of the claimant, Wirecard Bank, and has reserved judgment on the extent of the final liability.
Olympic Medals won during the Beijing 2008 Olympics
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Mr JusticeTugendhat found Allan Thomas Scott, Gerardus Petrus Paulus van Meer and Terence Shepherd – who were involved in the internet company Xclusive Leisure and Hospitality Ltd – guilty of deceit and conspiring to injure by unlawful means. They were also made personally liable for the company's debts. The judge has ordered the three to pay the $500,000 costs of the claimant, Wirecard Bank, and has reserved judgment on the extent of the final liability.
Olympic Medals won during the Beijing 2008 Olympics
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www.olympicsdiary.com brought to you by www.kenfrost.com "The Living Brand"
Scammers
The Telegraph reports that over £2M was defrauded from thousands of Olympic fans by way of an internet ticket scam in 2007.
Allan Thomas Scott, Gerardus Petrus Paulus van Meer and Terence Shepherd (involved in the internet company Xclusive Leisure and Hospitality Ltd) were found guilty of deceit and conspiring to injure by unlawful means. They were also made personally liable for the company's debts.
Needless to say, despite these people being caught, other scammers will be hard at work in preparation for the London games.
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"
Allan Thomas Scott, Gerardus Petrus Paulus van Meer and Terence Shepherd (involved in the internet company Xclusive Leisure and Hospitality Ltd) were found guilty of deceit and conspiring to injure by unlawful means. They were also made personally liable for the company's debts.
Needless to say, despite these people being caught, other scammers will be hard at work in preparation for the London games.
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, 10 March 2010
Incredible Apathy
The CEO of Tavelodge, Grant Hearn, has told the Evening Standard that "the Government is showing incredible apathy" wrt encouraging tourism in the run up to the London 2012 Olympics.
That may well be so.
However, London hotels, restaurants etc could also help the tourism effort by not overcharging customers and providing service/facilities that are world class.
Sadly far too many hotels, restaurants and tourist venues in London are nothing more than rip off joints designed to fleece the hapless tourist.
Olympic Medals won during the Beijing 2008 Olympics
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That may well be so.
However, London hotels, restaurants etc could also help the tourism effort by not overcharging customers and providing service/facilities that are world class.
Sadly far too many hotels, restaurants and tourist venues in London are nothing more than rip off joints designed to fleece the hapless tourist.
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, 9 March 2010
Taking A Dip
John Armitt, chairman of the Olympic Delivery Authority (ODA), has told the Public Accounts Committee (PAC) that he could not guarantee that all the money (estimated at being £2BN) taken from the National Lottery for the London 2012 Olympics will be returned.
When pressed by committee chairman, Edward Leigh, Armitt admitted that he could not even guarantee that part of the money would be returned.
Olympic Medals won during the Beijing 2008 Olympics
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When pressed by committee chairman, Edward Leigh, Armitt admitted that he could not even guarantee that part of the money would be returned.
Olympic Medals won during the Beijing 2008 Olympics
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www.olympicsdiary.com brought to you by www.kenfrost.com "The Living Brand"
Friday, 5 March 2010
Legacy
The Guardian reports that the Olympics Minister, Tessa Jowell, has called upon West Ham to bid for the Olympics stadium.
All very well, however if West Ham were to bid and win the bid this may well conflict with the promised Olympics legacy (as outlined in the original bid that won the UK the right to hold the 2012 Olympics).
For why?
The stadium capacity needs to be around 25,000, in order to accommodate the athletics legacy pledged to the IOC in London's bid.
However, this is not a capacity that would suit West Ham.
Who will win?
The bid that offers the most money.
Olympic Medals won during the Beijing 2008 Olympics
Don't forget to visit www.theolympicswarehouse.com
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All very well, however if West Ham were to bid and win the bid this may well conflict with the promised Olympics legacy (as outlined in the original bid that won the UK the right to hold the 2012 Olympics).
For why?
The stadium capacity needs to be around 25,000, in order to accommodate the athletics legacy pledged to the IOC in London's bid.
However, this is not a capacity that would suit West Ham.
Who will win?
The bid that offers the most money.
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, 4 March 2010
British Citizens At Back of The Queue
The BBC reports that British citizens will be at the back of the queue for tickets to watch the London 2012 Olympics, behind "the Olympic family" (sponsors, officials, their guests, the media and athletes, who receive special allocations of tickets for events such as opening and closing ceremonies).
To add insult to injury British citizens cannot be given preference over European visitors, because EU law forbids discrimination in favour of the host country.
Olympic Medals won during the Beijing 2008 Olympics
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To add insult to injury British citizens cannot be given preference over European visitors, because EU law forbids discrimination in favour of the host country.
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, 2 March 2010
We're Backing China
Olympic chiefs are keen to emphasise the legacy of the London Olympics 2012.
What they haven't specified until now is exactly which country's legacy they mean.
This question has now been answered, it is China's economic legacy that is being underpinned by the London Olympics.
That at least is the conclusion to be drawn from the announcement that a Chinese company has been picked to make special lapel pins for the 2012 games, British companies claim that they were denied the chance to even bid.
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"
What they haven't specified until now is exactly which country's legacy they mean.
This question has now been answered, it is China's economic legacy that is being underpinned by the London Olympics.
That at least is the conclusion to be drawn from the announcement that a Chinese company has been picked to make special lapel pins for the 2012 games, British companies claim that they were denied the chance to even bid.
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, 1 March 2010
Vancouver Winter Olympics Ends On A High
A crowd of 60,000 attended Sunday's closing ceremony for the Vancouver Winter Olympics.
Canadians celebrated a record haul of 14 gold medals, Canada ranked number one in the medal league table.
Attention now turns to London, and the games scheduled for August 2012. Organisers are hoping that lessons can be learned from Vancouver wrt eg; traffic management, technical glitches, safety issues and winning medals.
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"
Canadians celebrated a record haul of 14 gold medals, Canada ranked number one in the medal league table.
Attention now turns to London, and the games scheduled for August 2012. Organisers are hoping that lessons can be learned from Vancouver wrt eg; traffic management, technical glitches, safety issues and winning medals.
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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