Gee - Only Half a Billion
As predicted, Daley put the taxpayers on the hook for up to $500 million dollars in an effort to secure the Olympics for Chicago in 2016. (Sun Times; Channel 7)
The city is putting up $500 million in collateral in case the games are a bust. But as they unveil a new model of the 2016 venues and announce swimming events will be moved from the UIC to a new aquatic center in Douglas Park on the West Side, the committee says $700 million of private dollars are added as a guarantee against loss and that money will be spent before any city dollars minimizing the risk to Chicago taxpayers.
"We think the chances of that happening are practically nonexistent."
And we think the chances of the City having to delve into that half a billion are almost guaranteed. Perhaps someone remembers every single construction project in the city always comes in OVER budget? And late? And loses money? Hell, the city can't even get a freaking parking lot to make enough money to cover it's own bond issue.
How about the fact that NO Olympics in the last 30 years has made money aside from Los Angeles in 1984? Montreal just paid off its Olympic debt from the 1976 games last year. Britain is suddenly on the hook for FOUR TIMES the original cost estimate for the 2012 Games. And lord forbid there is another terror attack on US soil before the 2016 Games when preparations are in full swing (if a US city wins). Whoever keeps putting in the comment sections that the financial gains for an Olympics are astronomical is smoking crack.
We'll go out on a limb and say that these Games will lose money, cost the taxpayers millions upon millions, and certain connected construction companies will make around a billion dollars. Check back with us in 9 years.
How about the fact that NO Olympics in the last 30 years has made money aside from Los Angeles in 1984? Montreal just paid off its Olympic debt from the 1976 games last year. Britain is suddenly on the hook for FOUR TIMES the original cost estimate for the 2012 Games. And lord forbid there is another terror attack on US soil before the 2016 Games when preparations are in full swing (if a US city wins). Whoever keeps putting in the comment sections that the financial gains for an Olympics are astronomical is smoking crack.
We'll go out on a limb and say that these Games will lose money, cost the taxpayers millions upon millions, and certain connected construction companies will make around a billion dollars. Check back with us in 9 years.
Labels: dumb ideas
posted by SCC at 12:05 AM
58 Comments:
no question that, IF the city got the Olympics, that it would go over budget ("it's the Chicago way"), and that the taxpayers would be on the hook...wait, Daley will be gone by then (although maybe paid millions as a "consultant"); anyone wonder why Daley hasn't JUMPED to fund healthcare for police after 2013?...
The olympics are a waste of money. Don't even bother. Chicago is a world class city-we don't need to blow it on 2 weeks of garbage for rich people and egos.
You are very ill informed VERY
There goes the Skyway billion dollars.
To Da Mayor
You've won the election, the city is top 5 for places to visit for tourists, by in large things are good (excluding the shit heaps of 007,025,015,001,018,024...oh I'm sorry...I mean wherever the creature lurks). This city and country is so close to overextended itself that the biggest blunder would be to bring (and lobby) an economic disaster like the Olympics. Stay on course Mr. Mayor... you freaking bring this to our city and it'll be the same cycle as Detroit. You're heart attack will ensure, followed by death, funding by 4 casinos and we'll hail the honorable Mayor Troutman or Mayor Beavers. Man... would I love to leave my name. Stay safe.
018th District P.O.
I just left a message for my Alderman expressing my concerns and asking her to vote against any bond issues to finance the Olympic games. I'm 100% positive Alderman Rugai will take my call seriously and do what's best for the city.
Ah shit, I just woke up after having a nightmare thinking I called my Aldercreature and asked her to do something that is actually good for the City and not good for all the connected construction companies. Swimming pool in Douglas Park - WTF.
Well back to sleep to have dreams about getting it stuck up my financial ass for the next few years.
Good Night
The F.O.P. has agreed to fund the Olympics with the pension fund. The F.O.P. thinks that since there will be lots of side jobs for off-duty police that it would not be a problem.
to 03:35 AM
What makes u think 008 should not be put in the same class as other districts named. Pulaski east qualifies as a shit heap.
JUST THINK OF THE MOVE AS A GIANT LAND GRAB INTO MINORITY AREAS. ALL THE DIST. EVERYONE COMPLAINS ABOUT WILL GET A GIANT UPSWING IN GENTRIFIED LAND. THE END RESULT LESS MINORITIES AND REAL ESTATE PRICES SHOOTING UP AROUND PLACE SUCH AS THE LOVELY WASHINGTON PARK.
LOOK AT THE VENUE MAP.
WHY IS UIC NOT BEING USED?
Again....just stop. Dont do a fucking thing in this city and you will notice the change.
Why, I ask myself do you idiots go out there making arrests and doing what ever the asshats want.
I will never do a damn thing for this jagoff mayor. I get paid to do nothing. This is what the asshats have created...now deal with it. But be careful.
Just f@#king AMAZING!!! The city just happened to come up with a half BILLION dollars and our pension fund is still not being properly funded, health care gone after 2013, and I still don't have a working PDT!!!
SCC: PLEASE POST
"OFF TOPIC" but very important.
Alot of us are saying that we can't wait to elect Guliani or McCain for president. Before we get what we wish for please check out this website and look at their stances on key issues that we care about. Then go over to our friends at NYPD RANT and ask their opinions on Guliani. Although he handled that horrible September day like a king, he may not be the answer we were looking for.
www.ontheissues.org/2008/Rudy_Giuliani_Immigration.htm
To 3/10/2007 12:42:00 AM,
World class city-like Vienna, London, New York, Tokyo, Paris? You're an idiot. Chicago is approximately 30% white-and many of them are soft. You know the ones who voted for Daley, Doherty, Rugai. With this money Unit #079, SIU, could have their own REAL police facility with a lock-up. The beat cars could all have PDT linking CGRIS and CLEAR. Edison Park could have an ambulance on Touhy Ave. I'm weighing my options of buying out of the city right now. Fuck Daley, Pat Ryan, et al. (should have been indicted for the secondary insurance scheme at AON). This nonsense will never get past the International Olymic Committee.
Come on.... this city needs another reason to keep giving out those expensive, under the table contracts for non-existing projects. "hired truck scandal" comes back around. Mayors clik needs another big project to make money out of our pockets.
Good Night
3/10/2007 06:15:00 AM
---Just read your blog...very good...I sure hope Rugai cleans up all the vacant land/stores on Western (aka 115th and Western) fucking place looks more and more like a ghetto....oh wait I forgot she already had 16 years to do that and still hasn't delievered.
ATTENTION MR. FITZGERALD:
Read the blog 2-3 items below this blog about county corruption by Terry L. and take action accordingly.
Remember Mr. Fitzgerald: Get off the expressway at 103rd Street and go west a few blocks to the sheriff auto pound. Terrys trailer is on the right, opposite the St. Pat's float. All of the deadlined county squads are on the north fence, waiting to be sold (given) to the chosen bidder/gangster russian taxi service at a great deal with an envelope to 'ol Terry!
I hope he dresses better when the feds take him away. The torn/greasy coveralls thing is kinda 'declasse
GAME ON!!
Whats next....a game for rappin and break dancin.
I say fight this olympic crap tooth and nail. I refuse to give these assholes a red cent to fund their bullshit egos
Go to the FOP Lodge 7 website and click on "Surveys" on the left column. You can then tell them what you want in this upcoming contract.
Let them know this is the time to fight residence. If the teachers can get it, so can we!!
If my boss makes me wolf pack one more time, I'm going to hit the medical with mental anguish and a stress attack. Stop it and let us be the police not circus clowns driving in ridiculous circles.
Hey, didn't Daley say publicly last year that he promises that the citizens of this fine city WILL NOT pay our of pocket for the Olympics in any way. YOU FUCKING LIER!
I called Zalewski's office in the 23rd Ward asking to speak to the alderman. I was told he wasnt in. So I waited to later that evening and found the alderman at his usual watering hole.
In case you dont know where that is it located at Lindy's Chili on Archer & Neenah. Usually surrounded by a few off-duty coppers kissing his ass wanting to be promoted to Detective.
I asked him about opposing any bond issues and the olympics. To which he responded you dont know whats good for the city.
Im so happy Aldercreature Zalewski is in control of the Ward! I really must have wasted my MAIDA vote. Sgt- run again next time.
cant we just everyone to wolfpack the money together
3:35 AM
While I otherwise agree with your post, you must be delusional to put such relatively serene districts like 001, 018 and 024 in the same category as the bloody "shit heaps" like Fillmore, Englewood and Austin.
While we wolf down an order of rib tips between in-progress and 10-1 runs, you gourmets in 018
must decide between Dover Sole Almondine and Chateaubriand or perhaps Thai cuisine this evening
However, unlike us, we concede that
your opportunities for hooking up with beautiful young women in 018 are virtually non-existent. None of us envy the fact that you must constantly deal with those savages on Rush Street, the Gold Coast and Lincoln Park
Oh, well. Some coppers must patrol the gentrified in the half-million dollar townhouses around Clybourn and Division.
Our hearts go out to you. Looks like you guys just drew the short straw---at Starbucks!
remember, individuals get rich off the Olympics, and not just regular individuals, connected ones. you, me and dupree? We get squats. Well maybe you can rent one of your bedrooms out and have the kids sleep in the car. Actually that doenst sound bad.
Anyhoo, the city itself? Massive debt. Who feels that debt? Why you, me and dupree silly rabbit.
oh and let them put that half billion on the side. monkey has a secret decoder ring that can break into bank accounts. woot, we is rich again.
Are you surprised? What else would you expect from the irish cock-suckers who run this city. Those irish fucks are all crooks.
And of course lets not forget that it opens us up for a heap of security/terrorism related issues.
Olympic Games=COST OVERRUNS!
No matter what the politicians tell us what the Olympic Games cost,no maqtter how they are funded, there will be cost overruns.
This will be paid for by US, not out of the profits of the campaign contributor/contractors.
To pay them we will be taxed and taxed, and pay more fees for services and fines while our benefits and real spending power go down the drain.
Keep voting Democratic!
Here it is SCC from 1996 Atlanta games costs/revenue generated by the games. No where in the revenue is the tax payer on the hook. The entire article can be found at http://www.lboro.ac.uk/gawc/rb/rb154.html Good article showing pros/cons of games... not just a bunch of cops bitching
REVENU
US$
Broadcast rights
555,500,000
Joint venture
513,390,000
Ticket sales
261,230,000
ACOG share of TOPIII (sponsorship)
114,380,000
Merchandising
28,700,000
Other income
107,471,000
Total revenu
1,580,671,000
EXPENDITURE
Executive Administration:
Administration & human resources
38,118,000
Executive Operations
24,523,000
Financial & Management Services
120,277,000
Sub-total
182,219,000
Construction:
Venues
469,628,000
Sub-total
516,628,000
Functional Operations:
Communications & Government Relations
13,719,000
Corporate Services
44,778,000
Host Broadcasting
106,329,000
Merchandising
16,647,000
Sports & International Organisations
147,625,000
Olympic Ceremonies
24,180,000
Olympic Programs & Physical Legacy
52,481,000
Operations
405,350,000
Senior Policy Advisor & External Relations
10,015,000
Sub-total
821,125,000
Contingency/Net Funds Flow
60,000,000
Total Expenditure
1,580,671,000
NET RESULT
Break-even
With all this talk about assault rifles, can any of you really shoot them???? I mean at 200+ yards, not the area 5 basement? Or are they something you will learn to shoot when needed?
Half a billion...Yes! How many homeowners are in Chiacgo. The brunt of the tax increases go to high rise owners on the lake. The high rises take up very little space, but their taxes are extremely high.
You dwell on the tax increase. However, the real estate appreciation will be ten times the tax increase. Take a look at history....places like L.A and N.Y. These people are millionaires off of their real estate.
I think this is a good time for the city to borrow from The Police annuity and pension funds for this losts cause.....
THE CITY'S CITIZENS SHOULD BE CONCERNED. THERE DAMN SURE IS NOT ENOUGH POLICE OFFICERS TO WORK THE OLYMPICS AND EFFECTIVELY COVER THE BEATS IN THE NIEGHBORHOODS.. ALL THOSE OTHER CITIES HAVE SOMETHING CHICAGO DOESNT'T LOTS AND LOTS OF POLICE OFFICERS
SSC check out this link,
www.worldnetdaily.com/new...E_ID=54634
I saw the video spot airplanes flying into Chicago will soon display to ispire the Olmpics. It was actually well done. But, definately not worthy of a tax hike plea. Pay up, or move out. Oh, that's right.. the residency rule. Only IAD investigates that for coppers, not IG.. all safe then.
Paying for the Olympics:
1.) Raise parking fines
2.) Raise sticker fees
3.) Raise sales tax
4.) Raise property tax
5.) Raise water bills
6.) Raise property transfer tax
7.) No raises and reduced benefits for city employees.
8.) Raise all city fees
9.) Raise traffic fines
10) Sell the city to Sam Zell
Anonymous said...
With all this talk about assault rifles, can any of you really shoot them???? I mean at 200+ yards, not the area 5 basement? Or are they something you will learn to shoot when needed?
3/10/2007 05:56:00 PM
I can. Qualified as an expert, look it up if you don't know what it means. Agree with you though, too many want them but not enough know how to use them.
Maybe P.S. from 021 can run the bid. By the way, 021 is full of clouted babies anyway. They can all wine, dine, screw, and kiss ass for a transfer if don't like P.S. Look at who they have there...straight from 35 to tact, and special events, and cushy side spots, and clout drivers for fired city officials.
There is a very good article on NYC and their residency:
http://www.gothamgazette.com/
article/issueoftheweek/20060417
/200/1822
While many cities have dropped the residency requirement outright (NY, LA, Cleveland, Nashville, etc), many cities are going with a phased end to the residency requirement.
Cities such as Boston and St Louis (I am sure there are more), only require a city worker to live in the city for an average of 5-10 years, then they can move out.
I feel we should shoot for the end of residency outright. However, if we cannot get that, a plan like that could be a settlement for both the city and it's workers.
Now we'll see if the FOP has the same balls the Teachers Union does.
What I want to know is how did the Chicago Teachers Union get this bill called to the floor downstate.
If they had the backing to get it passed, I am sure we can get the backing. As CFD, Streets and San, etc.
FOP, time to call in some markers with the people we helped get elected and get our residency bill called and passed!
What the hell, how can we be ready for anything like the Olympics police wise. The G will come in, the FBI Anti-terrorist group and all the other Hi-Tech Feds will have their helicopters and spy cameras and bio-sensors.
But the poor beat cops will still be led by the likes of Charlie Williams and Ron Hubberman who state openly thet it is impractical to train and equip us to respond to terrorist attacks now.
Although he handled that horrible September day like a king, he may not be the answer we were looking for.
www.ontheissues.org/2008/Rudy_Giuliani_Immigration.htm
3/10/2007 08:47:00 AM
Sketchy background, but Gingrich would make for a much better president. Liberals will be quick to say he is a hypocrite for pushing the impeachment of clinton while having an affair, but Gingrich pushed for it because of the perjury Clinton committed, not the affair.
He clearly states all of his positions unlike most politicians. All can be found at below link.
http://newt.org/backpage.asp?art=2917
side note- Only "dogs" and "dumb asses" don't like P.S. 021
Like FOP will ever seek an end to this residency stupidity! daley does not like the police as everyone knows but yet he wants to force us to live here! the teachers of all people should be forced to live here so they can see their little darlings that they taught grow up to get a cb number and learn about link and gangs! I am tired of paying look at your tax bills the huge amout being given to school animals! we need an uprising and say no more it is not in the constitution that we have to pay to try to educate illegals and everyone else that don't want to learn! illinois has thievery of the highest order!
For those of you who keep talkin smack for residency by complaining abot the F.O.P. donn't seem to get it. It makes no sense to fight with the city and have to give up something to get residency requirements lifted now. First the State law requiring us to live in the city must be changed, which the F.O.P is working on. Then the city ordinance must be changed, most likely thru a court fight which we have a good chance on winning (based on recent decisions). Then third we fight for the change in our contract, and get it or get something in return (something hopefully big) instead of giving up something big. This is not the contract to fight for residency
We all have not seen anything yet. The good news is the the most honorable Patrick Fitzgerald is back from D.C.
Watch the sealed indictments forth come on this misable city and state government.
I thought I would live my life out in this state. I am gone next year.
I pity the young copper' who cannot afford a home or anything else wothout working 2 side gigs.
Anonymous said...
With all this talk about assault rifles, can any of you really shoot them???? I mean at 200+ yards, not the area 5 basement? Or are they something you will learn to shoot when needed?
3/10/2007 05:56:00 PM
I can. Qualified as an expert, look it up if you don't know what it means. Agree with you though, too many want them but not enough know how to use them.
3/10/2007 08:49:00 PM
------
OOOOOHHHH, you can, huh? Wow, you must be a real man. You wannabe ex-military douchebag.
All Chicago Police Officers will be sworn in as Deputy US Federal Marshalls if the Olympics do come to Chicago.
Happens at all U.S. places that holds Olympics.
Anonymous said...
There goes the Skyway billion dollars.
3/10/2007 02:02:00 AM
that was gone along time ago
THE END RESULT LESS MINORITIES AND REAL ESTATE PRICES SHOOTING UP AROUND PLACE SUCH AS THE LOVELY WASHINGTON PARK.
all the s. side alderwomen already bought those lots.
Some much for a new contract until after 2016
Cost overruns in chicago? Hell, this city couldn't buy an icecream cone without there being a cost overrun.
YOU FUCKING LIER!
3/10/2007 01:03:00 PM
FUCKING IDIET
More millions for maggie boxes fucking up the center lanes of streets.
The original vision and idea for the Chicago Olympic bid was from Akif Malik back in the 90's. His plan was much more financially feasible since it was before Soldier Field was converted into a football-only stadium for $700 million.
Think about it. Daley wants to spend $366 million basically to fix his $700 million mistake! That's more than a BILLION dollars and doesn't include what the bizarre temp stadium could end up really costing?
I'm all for the Olympics and I think Malik is our 21st century version of Daniel Burnham, but this financial guarantee issue has exposed the problem with what happens when the City of Chicago is control of a project. The Olympic bid was stalled in 1997 because of the SAME financial guarantee.
Malik pursued this again a couple years ago, so why did Daley this time pursue it and run around saying how it's such a great opportunity even though we lost the stadium we had? In my opinion, it's because Daley needed something to save himself from the corruption scandals and make people think he needs to be around for the long-term.
That would also explain why the current financial guarantee was kept quiet until AFTER the election. Just imagine if this news had come out before since he had told everyone there would be no taxdollars used.
I don't think the Olympics are a dumb idea. I just think it's a dumb idea to have a mayor with a track record of corruption and massive costs to be involved.
With the Olympics comes the obtrusive events of al-Queda. Gee, that's all Chicago needs is a large scale attack to get the juices flowing. Let LA have it!
If Daley can generate $500 million for this BS, why can't he hire more officers, better equip our already sworn personnel, provide security for the masses and make this city great for the purpose of greatness?
$500 million to have some fanatical jagoffs destroy our city...on international TV? Sounds like a deal to me.
Terry L. was shot in the chest with a rifle in the 005 Dist. Almost died, still on disability, nuts maby, a criminal no. If you have proof sheriff let it out. By the way, stay off our blog, its for the police.
from the Sun-Times, Wednesday edition: Daley "knew" in advance about the need for the city's financial guarantee (for the Olympics), but did "not fess up", because he is sure that the city would never be on the hook....wow, what a guy!
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