Quote:
Originally Posted by Bunk
$1 billion contingency.
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Which is about 20% of the current total being floated about in regards to costs.
What if it hits 30%? Or more? Who pays for it and how? Calgary 88 was nearly 60% over initial estimates albeit with many more capital projects being under taken.
With the history of cost overruns related to Olympic games, I simply cant "hope" that this BidCo group has its numbers in alignment with reality or that the contingency is anywhere near where it needs to be without fearing the fallout from those very cost overruns that are more likely than not.
I think the single biggest red flag was the last minute adjustment to security costs that left me thinking it was nothing more than a fudging of things to keep the bid process and plebiscite alive. Literally it all changed just hours before it had to in order to keep moving forward. Just a coincidence? That just doesn't sit well with me and i suspect quite a few others.
I guess it sits as "not enough return in regards to the amount of risk" for me.
Im going to vote this afternoon.