Politics, Weather, Photography, and the Dog
Thursday 18 June 2009

Chicago mayor Richard Daley has possibly committed the city to an enormous public expense for the 2016 Olympic Games:

Faced with losing the 2016 Summer Games to competing cities offering full government guarantees, Mayor Richard Daley made an about-face Wednesday and said the City of Chicago would sign a contract agreeing to take full financial responsibility for the Games.

In a worst-case situation, such as severe cost-overruns or a catastrophic event, the agreement could leave taxpayers on the hook for hundreds of millions of dollars or even more, a scenario Chicago's bid team acknowledges but insists is far-fetched.

Um...in what universe are cost overruns on a Chicago public works project "far-fetched?" The Tribune's editorial board wonders who's really on the hook:

The mayor's spokeswoman, Jacquelyn Heard, says...[t]he financial commitment...will fall on the Chicago 2016 committee, the group that's organizing the city's bid.

Well, hold on a minute. If the Olympics lose money, the IOC wants somebody to pick up the cost. So if the Games are a bust and the losses blow through the public and private guarantees, the Chicago 2016 committee will pay the rest of the tab?

How? By taking up a collection among its members?

I'm beginning to feel like a Christian Scientist with appendicitis...

Thursday 18 June 2009 10:40:58 CDT (UTC-05:00)  |  | Chicago | Politics#
Search
On this page....
I've got a bad feeling about this...
Countdowns
The Daily Parker +3297d 20h 24m
Parker's 9th birthday 203d 16h 49m
My next birthday 284d 20h 54m
Categories
Aviation (342) Baseball (110) Best Bars (7) Biking (44) Chicago (903) Cubs (197) Duke (132) Geography (334) Higher Ground (5) Jokes (283) Kitchen Sink (652) London (54) Parker (191) Daily (204) Photography (144) Politics (303) US (1085) World (253) Raleigh (21) Readings (8) Religion (66) San Francisco (88) Software (203) Blogs (75) Business (226) Cloud (90) Cool links (133) Security (98) Travel (218) Weather (693) Astronomy (86) Windows Azure (59) Work (71) Writing (8)
Links
Archive
<November 2014>
SunMonTueWedThuFriSat
2627282930311
2345678
9101112131415
16171819202122
23242526272829
30123456
Full archive
Blogroll
About
David Braverman and Parker
David Braverman is a software developer in Chicago, and the creator of Weather Now. Parker is the most adorable dog on the planet, 80% of the time.
Legal
All content Copyright ©2014 David Braverman.
Creative Commons License
The Daily Parker by David Braverman is licensed under a Creative Commons Attribution-Noncommercial-No Derivative Works 3.0 United States License, excluding photographs, which may not be republished unless otherwise noted.
Admin Login
Sign In
Blog Stats
Total Posts: 4560
This Year: 458
This Month: 31
This Week: 2
Comments: 0