Friday, January 16, 2009

Vancouver 2010: Big Owe Revisited

Looks like the yet to be completed Olympic Village Complex is becoming a colossal disaster. (read)

The city is now asking the province for special permission to borrow money in order to finance the remaining $458-million needed to finish construction on the 1,100-unit village by the end of October.

Mr. Andrews dealt mainly with the project's compliance with city planning, design and environmental guidelines, as opposed to overseeing its finances.

Also Thursday, Mayor Robertson revealed in a letter that the city of Vancouver is racking up $87,000 per day in interest costs to bridge the financing for the Olympic Village project.

It took 30 years for Montreal to pay off Olympic Stadium and now it looks like Vancouver is already on the hook. At least Montreal had the more prestigious Summer Games. Did such major metropolitan areas like Lake Placid, Albertville, Lillehammer and Nagano have to pay so much for the Winter Olympics?


  1. You have to wonder how these corrupt Olympic scumbags, can continue to suck in cities to sponsor the Olympics. Australia has a ten year national sales tax to pay for the Olympics. Nagano had big cost over runs, Athens spent $15 billion and got left with a bunch of crumbling buildings. China just announced they had one million fewer visitors then in 2007. No one even goes to the events anymore. Did anyone notice all the empty seats at the Athens and Torino Olympics? What a joke to see how badly government officials can waste money. A private business would house the athletes in a trailer park for two weeks. The summer Olympics, an empty university dorm could be used to house people. Who in there right mind would spend a billion dollars to house people for two weeks? The Olympic village in Vancouver is great example of why government should not be involved in the economy.

  2. So many seats are empty because so many events are unwatchable. The big hype was Michael Phelps but swimming is not exciting to watch. Summer olympics there's soccer, diving, the 100 metre dash, women's gymnastics and that's it. Winter: hockey, downhill skiing, snowboarding, figure skating are the only things people watch. Have you seen "skeleton"? In my day that was called crazy carpeting.