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Vancouver Profit?


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They annouced they will have a balanced budget a few weeks ago.... but thanks to an extra IOC contribution !!!!

VANOC will put their best face forward but 2010 loss a lot money. It cost over a billion dollars in security alone and the Olympic village thats a billion where the profit? Their are many more items I can list but will VANOC provided a details forensic audit of the final cost?

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VANOC will put their best face forward but 2010 loss a lot money. It cost over a billion dollars in security alone and the Olympic village thats a billion where the profit? Their are many more items I can list but will VANOC provided a details forensic audit of the final cost?

Security and the Olympic Village aren't VANOC's responsibilities. VANOC will be showing its financial report for its organizational responsibilities.

And actually, security came under a billion at a little over $800-million.

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So the final financial report comes out and its even no gain no loss. But no where in the report does it state how much the City of Vancouver put into the games or Richmond and Whistler. Do you have a source that states it was 800 million? The G8/G20 security was over 500 million for two days (I'll make four days) and under a billion for two weeks? How about a complete forensic audit from Sep 30 2003 to Feb 28 2011 after submitting the official report.

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So the final financial report comes out and its even no gain no loss. But no where in the report does it state how much the City of Vancouver put into the games or Richmond and Whistler. Do you have a source that states it was 800 million? The G8/G20 security was over 500 million for two days (I'll make four days) and under a billion for two weeks? How about a complete forensic audit from Sep 30 2003 to Feb 28 2011 after submitting the official report.

If it's a 'break-even,' that means it's really a 'loss.' They just don't want to have the look of egg on their faces; so it's declared 'break-even.'

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So the final financial report comes out and its even no gain no loss. But no where in the report does it state how much the City of Vancouver put into the games or Richmond and Whistler. Do you have a source that states it was 800 million? The G8/G20 security was over 500 million for two days (I'll make four days) and under a billion for two weeks? How about a complete forensic audit from Sep 30 2003 to Feb 28 2011 after submitting the official report.

Expenses made by the City of Vancouver, Whistler, and Richmond are not Olympic expenses under VANOC's mandate...they are not its responsibilities.

Olympic Security at $850-million: http://www.google.com/url?sa=t&source=news&cd=1&ved=0CCEQqQIwAA&url=http%3A%2F%2Fwww.vancouversun.com%2Fnews%2FOlympic%2Bsecurity%2Bbill%2Btops%2F3977990%2Fstory.html&rct=j&q=vancouver%20olympic%20security&ei=NOEOTZaSOpH6sAONlcm9Cg&usg=AFQjCNHVSg5egYJAJ0WqWf0ZmvYGZUXlSA&cad=rja

As for the comparison to the G8/20, apples and oranges. Protecting some the world's most powerful leaders costs quite a bit more....and they had Toronto in virtual lockdown, whereas it wasn't really the case in Vancouver. Finally, the real cost of the G8/20 security is $850-million - not $500-million.

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^^^ What about comparing the fact that you spend 850 million on a two week event to protect an entire city, the town in whistler and everything in between.

Then you look at the G8/20 event, a couple of days, protecting world leaders (who naturally bring their own security of course), locking down a couple of city blocks etc.

The simple cost wouldn't be justifiable in anyone's minds. It should have been done cheaper.

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Finally, the real cost of the G8/20 security is $850-million - not $500-million.

How did you come up with that figure? If anything a G8/20 SECURITY BUDGET is more confidential than security costs for an Olympics whihc should be more transparent. $850 mil for a few days' security in already tightly sanitized areas is HIGHLY INFLATED.

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How did you come up with that figure? If anything a G8/20 SECURITY BUDGET is more confidential than security costs for an Olympics whihc should be more transparent. $850 mil for a few days' security in already tightly sanitized areas is HIGHLY INFLATED.

I'm not justifying the G8/20 security expense, I'm telling it how it is.

It depends on how you calculate security costs, and for that matter Canada calculates it differently and it contributes to why the figure is ifnlated. One big item that it does differently, that other countries like the United States and the UK do not do, is that Canada includes police and soldier wages into security costs - wages that would have been paid regardless - instead of just overtime.

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O.K someone paid for security and are they getting their money back? Someone paid for the Olympic Village are they getting their money back? Those who put money into the Olympics are they getting their money back?

The Olympics don't "profit," and they never have. Life is much more than just about profits.

Quit whining.

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I guess your not a taxpayer?

I am, and as an EDUCATED taxpayer I know the costs were well worth the experience and the infrastructure legacy.

20-years from now, people will look fondly at these 2010 Olympics just like how we look fondly back at Expo '86 and how it has changed the city for the greater good.

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their will be a trace of the Olympics just as in Atlanta, Albertville Sarajevo.

Atlanta only built one new building for its village to house some 3,200 athletes. The other 7,300 athletes were housed in EXISTING Georgia Tech dorms.

I don't know about Albertville's village but Sarajevo also used the dorms of the University of Sarajevo, as did Salt Lake City.

So what's your point?

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My point is the Olympic Village has put the city of Vancouver on the hook for a lot of money. In 20 years form now will the city even have something to show for instead of debt and white elephants. The Canadian Taxpayers federation well they weren't very happy with the amount of tax dollars that went into the games.

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If the Games were to make a profit, you'd better believe it wouldn't be going to the taxpayer.

But the Games churned up a lot of business, sheltered BC from the worst of the recession, and made the country feel good. So there are benefits that are not just bottom line.

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My point is the Olympic Village has put the city of Vancouver on the hook for a lot of money. In 20 years form now will the city even have something to show for instead of debt and white elephants. The Canadian Taxpayers federation well they weren't very happy with the amount of tax dollars that went into the games.

The City of Vancouver has its $2.8-billion Property Endowement Fund to fall back on so that taxpayers won't have to fall back on anything.

The Olympic Village units could sell right now if they got rid of the much-publicized social housing (hard truth: nobody wants to live next to the poor and homeless) and if they slashed prices.

Sorry, but the Canadian Taxpayers Federation is against everything and anything that has to do with taxpayers money. They should be known more as the "Do Nothing" Federation.

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My point is the Olympic Village has put the city of Vancouver on the hook for a lot of money. In 20 years form now will the city even have something to show for instead of debt and white elephants. The Canadian Taxpayers federation well they weren't very happy with the amount of tax dollars that went into the games.

See that's the risk would-be hosts take on when they bid and win mega-events like these (the O's and the WCs). Unless they have crunched their numbers to a T, and have taken every worst-case scenario into consideration, it is a gamble. FIFA, the IOC and their bretheren spell out their unreasonable terms. If the city doesn't like them, then they better speak up early--as Denver did in 1976. But of course, that burned Denver's chances for the next 50 years.

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Oh my gawd some people have been slurping the from stoopid jar in here.

All competition related capital projects were funded and completed 2 years ago. No debts.

Sea to Sky was on the books before the bid; it was just moved up.

Canada Line: paid for. No debts.

Olympic Village: if the City were smart they would just take possession of it (as they're entitled), and sell it off at 75% of original asking price. It would STILL make a profit; selling it at 50% would just about break even.

Montréal bla bla. Atlanta bla bla. What's next, the spectre of Chamonix? The Berlin boondoggle?

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