She’s city’s Olympics watchdog... but being paid by Boston 2024

[GreatGazoo]

3. what a disaster for Boston

If Boston loses and gets stuck hosting the 2024 games it will bankrupt the City, create a magnet for terrorists, drive away new business and conventions, increase school class sizes and tie up traffic for years like the Big Dig.

When a city hosts the Olympics the taxpayer has to pay for all the security, facilities, velodromes, etc, $26 billion and revenue is prohjected at $5.2 bil but they won't get most of that since the IOC gets 70% of TV money and a cut on everything else.

Perhaps the only encouraging finding in Mr Zimbalist’s work is that potential hosts are getting wise to the bad deal the IOC and FIFA seek to foist on them. Twelve different cities bid for the 2004 Olympics, whereas the 2020 edition drew just five applicants. After Oslo dropped out last October, only two cities—Beijing and Almaty, Kazakhstan—are now candidates to host the 2022 winter Olympics, providing further support for a prediction in a 2012 report commissioned by the Dutch government that in the future only non-democratic countries will pay up to host the events. If the IOC, which markets the games as a force for peace and harmony, wants to avoid being turned into a propaganda tool for autocratic regimes, it may need to rethink.

http://www.economist.com/news/books-and-arts/21645114-hosting-olympics-and-world-cup-bad-citys-health-just-say-no

Much like the stock market maxim that one should never invest in a company that puts its name on a sports stadium, hosting the Olympics is now a sign that your local government is rotten.