Quote:
Originally Posted by GullFoss
A counciler asked the CFO what would happen if the bid went over budget by $4b. The CFO of Calgary replied that taxes would go up by 20% for 20 years.
That is point, match and game. The risks associated with cost over runs are too high.
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Why stop at 4B? How about 10B? 20? It's even scarier.
We often talk about overruns without looking at why they happened.
Just look at the locations. 3rd world or eastern block. Do you think Putin worked with a budget to show the world how great Russia is? How about China and Brasil? They used the Olympics as propaganda tools.
Calgary doesn't have to prove anything to the world. Just like Vancouver did not. And incidentally they did well financing their games.
Food for thought.