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Finance

So who profits from Olympic developments?

Property speculation

Labour MP Clive Betts has highlighted the need for transparency in public private sector deals for delivery of the Olympic developments and has called for parliamentary scrutiny of such arrangements. Deals were being discussed with Stratford City Developments ahead of consent for the Olympic bill to ensure conversion of flats into housing for 4,500 athletes (R. Booth, The Guardian, July 29, 2005). In 2003, the consortium Stratford City Developments and the LDA agreed not to frustrate the other's planning applications. The Guardian article notes: "A director of the consortium, Sir Stuart Lipton, was also a senior government advisor on the Olympics plans at the time of the co operation agreement. He was later forced to resign from his post as chairman of the Commission for Architecture and the Built Environment following accusations of conflict of interest between his role as government adviser and a leading private developer".


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Cash crisis looms

The £550 million funding for the London Olympics will initially come from London council tax payers, £1.5 billion from the National Lottery, followed by a further £75 million from council tax, and £250 million from the London Development Authority (LDA). The International Olympic Committee (IOC) insists that host cities underwrite all liabilities. £15 million was spent on the London bid alone (Blowe, 2004; 2005).


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a state of public calamity

We're fairly inured by now with the idea of the Olympics providing a state of exception but 50 days before the 2016 Opening Ceremony Rio has now gone one better announcing a state of public calamity. Or perhaps Citius, Altius, Fortius just got lost in translation.


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Barbaric Sport - a Global Plague by Marc Perelman

Barbaric Sport by Marc PerelmanBarbaric Sport by Marc Perelman


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Opportunities lost - if Boston gets the Olympics

It's a question being asked more and more about the Olympics. $20billion? Is it really worth it? For three weeks? Yeah, it's a lot! What could we get for that money? Jobs, health care, elderly care, roads, education, homeless shelters, affordable housing... NoBostonOlympics videos of Bostonians talking back about lost opportunities, lack of transparency in the bid, thumbs down to Boston2024....


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the wrong kind of journalism

Tis the season to be jolly and publish utter bullshit about legacies it seems, it being one year on.

Emily Dugan provides an excellent example for The Independent, notably this one-liner


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A Bankrupt Field of Dreams

The fraught disputes over how best to recoup the high construction and maintenance costs of the London Olympic stadium conform to a pattern previously seen elsewhere in England and abroad. The story of the Don Valley stadium in Sheffield provides a cautionary tale of how the visionary delusions of ambitious politicians end up ruining the chances of ordinary people gaining adequate access to affordable opportunities for healthy recreation.


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Some Shortcomings of Olympic success

In a house in the London suburb of Ealing, hired for the occasion by a film company, an actor playing the part of an average guy, is checking in a mirror how he looks in his recently bought shirt. Out from behind the mirror steps the winner of the recent Olympic women’s heptathlon who reels off some spiel about a 2% discount. The actor/guy plays gobsmacked that this princess should emerge from behind his mirror, announce some cashback offer then humiliate him over his new shoes.


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