Vancouver Olympics Fail Before they Start

When the buzz started to generate about Vancouver stepping up and offering up our beautiful city for the Winter Olympics, I knew this wouldn't end well. I realize the importance of an event like this one but the city simply wasn't ready. We had so many other issues to deal through before we could get around to even thinking about hosting an event this size yet, City officials forged ahead, winning the bid.

For many, there was elation at the announcement but some of us were concerned.

Now there's this issue of the Olympic Village, cost overruns and the taxpayers having to shoulder the cost of the development. If that's not bad enough, the project is into major cost overruns, behind schedule and even when all is said and done and the
Olympics are over, we're going to be stuck as owners of these fabulous properties that will either be sold below cost or the City will have to hold onto them until the market returns to healthier levels. I've been reading a few bits and pieces in various different papers and all the experts seem to agree - this is going to be bad. Really bad.

This morning I was reading a piece over the The Georgia Straight that paints an even grimmer picture and the costs of these games just keep on rising. And if it wasn't bad enough to be going through this when the economy was looking decent, imagine dealing with this while we're in recession? They're estimating that BC residents could be paying this off for their entire lifetimes.

Is it worth it? It may be for those of above average income but the rest of us are going to feel the pain and no, I don't think it's worth it. But we're too far in now.

No Time for the Olympics! Photo care of sillygwailo on Flickr.


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