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Mayor Daley has generously decided to to talk to the city council about his promise that the city will bankroll more cost overruns for the 2016 Daley Games - after, of course, he gets back from his latest overseas venture. Manny Flores is pissed, and I'm starting to wonder if the mayor has, after all these years, finally started to try the, um, infinite patience of the council.
By the way, if you're still skeptical of Twitter, I'm telling you, it's totally awesome. This week I got to watch in real time as 2016 spokesman Patrick Sandusky - who should really be demanding hazard pay these days - got stressed out about recent developments.
@nkhare 2016 funding is Private. We just but ANOTHER $500m layer to protect taxpayers. 2016 would have to be almost $1bil over to risk Chi
That's right Chi 2016 is Private funded. City protected by almost $1bil itself. or more than every OCOG over run sin '76 COMBINED.
Why were we able to get $500 private insurance? cause the companies know its easy money, OCOG's don't lose money. they MAKE it. Fact
Clarification-Mayor did not sign anything 2day Said would sign Oct. Mayor trying 2 WIN, bring jobs, facilities, revenues, prestige to chi
I dunno, man, I read it a bit different.
"The Games were forecast in 1998 to cost $616 million US, but ballooned to more than $3 billion US. The national government helped bail out the 2006 Torino Winter Games by covering $159.11 million US of a $195.82-million shortfall."
"The Athens Olympics, which cost a record £9.4bn to stage (way over its original budget, which rocketed after the September 11 terrorist attacks increased security costs) have left Greece groaning under a huge debt. In the months after the Games, the shortfall amounted to €50,000 for each Greek household, and taxpayers are still footing the bill. Maintenance of the sites alone has cost as much as £500m."
From the same article: "The New South Wales government has said the financial result of the [Sydney] Games was a net cost to the public finances of at least A$1.5bn (about £720m)."
Atlanta broke even, and Seoul and Los Angeles made money. Sounds less like a fact than a crapshoot. I suspect there would be less skepticism if it weren't for the mayor's recent financial track record on enormous projects like the parking meter sale and Block 37.
If Sandusky decides enough is enough, they could replace him with bullshit virtuoso and new "communications consultant" Ari Fleischer, whose hiring is pretty resonant.