Category: Olympics

Month in Review: June, 2015

17 July, 2015 (10:00) | Bankruptcy, California, CalPERS, Delhi, Greece, India, Municipal bankruptcy, Olympics, Pollution, Public-employee pensions, Stockton, Urbanization, US News | No comments

By: David A. Smith Thought of the day, courtesy of my most faithful reader: If Vladimir Putin hadn’t wasted $50 billion (yup, billion) creating the instant-white-elephant of Sochi’s Olympics, he would have had the cash to buy Greece out of its difficulties and dramatically upset the European applecart. ”So, Vlady, you got that fifty extra-large […]

Mega-boon or mega-boondoggle: Part 6, We don’t need an aristocracy

8 June, 2015 (11:05) | Boston, Cities, Economic development, FIFA, Finance, Housing, Infrastructure, Mega-events, Municipal finance, Olympics, Politics, Soccer, TIF, US News | No comments

 [Continued from Friday’s Part 5 and the preceding Part 1, Part 2, Part 3 and Part 4.] By: David A. Smith By now alert readers will no doubt have deduced that my initial astonishment of Boston as a potential Olympic bid city rapidly turned into skepticism and has now hardened into opposition. Principal sources used […]

Mega-boon or mega-boondoggle: Part 5, Only non-democratic countries will pay up

5 June, 2015 (10:00) | Boston, Cities, Economic development, FIFA, Finance, Housing, Infrastructure, Mega-events, Municipal finance, Olympics, Politics, Soccer, TIF, US News | No comments

[Continued from yesterday’s Part 4 and the preceding Part 1, Part 2, and Part 3.] By: David A. Smith If Boston is so fortunate as to win the IOC’s selection as the 2024 Olympics host city, the task’s complexity and the scale of infrastructure required will stress (and probably overstress) the city’s capacity for rational […]

Mega-boon or mega-boondoggle: Part 4, “To an extent, this is a tradeoff”

4 June, 2015 (10:00) | Boston, Cities, Economic development, FIFA, Finance, Housing, Infrastructure, Mega-events, Municipal finance, Olympics, Politics, Soccer, TIF, US News | No comments

[Continued from yesterday’s Part 3 and the preceding Part 1 and Part 2.] By: David A. Smith Promptly after Boston won the USOC’s endorsement to be the American host city for the 2024 Olympics, the team’s pledge of ‘no new public money’ was coming apart at the seams. Seams?  I know not seams Principal sources […]

Mega-boon or mega-boondoggle: Part 3, Contradict prior assurances

3 June, 2015 (10:00) | Boston, Cities, Economic development, FIFA, Finance, Housing, Infrastructure, Mega-events, Municipal finance, Olympics, Politics, Soccer, TIF, US News | No comments

[Continued from yesterday’s Part 2 and the preceding Part 1.] By: David A. Smith So far in this multi-part post we’ve established that most cities hosting the Olympics experience large cost overruns in their new infrastructure and gain much less revenue than they project, Sure, run the Light Rail down Cambridge Street; that’ll really work […]