 merrie says: Regardless, let's look at some of the carping and whining: RHETORIC: BECK SAID VANCOUVER LOST $1 BILLION WHEN IT "HAD THE OLYMPICS." Glenn Beck said, "Vancouver lost, how much was it? they lost a billion dollars when they had the Olympics." [Transcript, Glenn Beck Show, 9/29/09] REALITY: VANCOUVER'S OLYMPICS WILL NOT TAKE PLACE UNTIL 2010. Vancouver will host the 2010 Olympic and Paralympic Games from February 12 " 28, 2010 and March 12-21, 2010, respectively. [Vancouver2010.com, accessed 9/29/09] Yes, Beck was clearly in error about when the Vancouver Olympics will be held. However, his point about that city's financial problems as a result was nevertheless valid and relevant as it pertains to the question about Chicago getting the Olympics in 2016. As the Vancouver Sun reported in January: The City of Vancouver's liabilities to construction of the 2010 Olympic Athletes Village may cost it its favourable credit rating with Standard & Poor's . . the rating agency said today. Standard & Poor’s, in a statement, said it has placed Vancouver’s AA+ rating on creditwatch in light of revelations that the city may need to step in and finance the Olympic village’s remaining construction. “Depending on the scope of the city’s financial obligation, we believe Vancouver’s potential debt burden might not be consistent with the AA+ rating,” Steven Ogilvie, director of public-finance ratings for Standard & Poor’s office in Toronto, said in the statement. In the statement, Ogilvie said the agency’s concern is that without financing from the Olympic village project’s main lender, Fortress Investment Group, Vancouver could be on ... Looming over the debate are the fortunes of the Fortress Investment Group, the hedge fund and private equity firm that controls the main Olympic skiing site, Whistler Blackcomb, and is the primary source of financing for a $1 billion athletes’ village now under construction downtown. On Thursday, Fortress reported a third-quarter loss of $20 million, in contrast to earnings of $111 million in the period a year earlier. As such, Vancouver is indeed having serious financial issues in preparation for its upcoming Olympics, a reality Lee chose not to check. As for his other concerns, they were all dealing with what was said by Beck’s guest Pat Caddell. Maybe the White House should address... He mis-spoke when he said Vancouver. He meant to say Calgary. This is all they got to dispute the hundreds of things he has said. WOW! Great clip, merrie. Glenn Beck really struck a lot of White House exposed nerves with last nights commentary. Do you know the truth when you hear it? If you missed it, check it out right here. Glenn Beck: Who would pay for Chicago's Olympics? - 10/1/2009 http://www.youtube.com/watch?v=IGejVOqF7-w 77WABC Radio News Alert to Steve Savage: "Chicago/Toyko eliminated from hosting 2016 Olympic Games. Rio de Janeiro and Madrid are still in the running to host Games. Winner to be announced soon..." That ends Obama, Michelle, and Oprah's sales pitch. U.S. Loses Olympics Bid President Obama urged the International Olympic committee Friday to choose Chicago for the site of the 2016 Summer Games, but the Committee eliminated the city from the competition in the first round of voting. by Robin Givhan and Amy Shipley Washington Post Staff Writers Friday, October 2, 2009; 12:59 PM COPENHAGEN, Oct. 2 -- The International Olympic Committee eliminated Chicago from contention to host the 2016 Summer Games in a stunning first round of voting Friday, rebuffing a personal appeal from President Obama, then chose Rio de Janeiro as the site for the quadrennial sporting event. |
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