11th Hour Report Questions Financial Gains From Summer Games

Claims Revenues Would Fail To Hit Organizers' Target

Independent analysis says new spending would only reach one-third of Chicago's estimated $13.7 billion haul from a 2016 Summer Olympics.

East Lansing, Michigan-based Anderson Economic Group LLC projects the Olympics would trigger only $4.4 billion in additional tourism and infrastructute spending In Chicago and Cook County.
Read the entire report here.

Green Day

"World Car Free Day" pushes "Green Transport" CCTV-International

Hedging Their Bets?

This wasn't on my Radar Screen until now, but seems that Tokyo and Rio aren't just content making a play for the 2016 Summer Games; as China Daily reports , Beijing has made its own pitch to host the 2015 Athletics World Championships. Should Chicago enter the fray; or are the Japanese and Brazilian cities' own interest in "Athletics Worlds" a sign that they might harbor doubts as to the relative strength of their respective bids for the 2016 Olympics?

Breaking Away

It might appear to the occasional reader, that there is no one unifying theme or thesis to this Blog; this could not be further from the truth. As this publication has evolved, I have tried to lay the foundation for my thoughts; my philosophical bent if you will. Much of the discussion thus far has focused on my recent bicycling experiences in Chicago, as well as the pending award of the 2016 Summer Olympic Games; of which Chicago is a Candidate City.

The unifying aspect of Bicycling and the Games is one that can initially be viewed from the following perspective: In the United States, and in this case Chicago as well, riding a Bicycle can be undertaken for a variety of reasons: recreation; competition; and utility. In the latter case, many people have increasingly taken to bicycling due to the economic incentive; others because of the environmental imperative. This particular demographic of Bicycle end-user might very well overlap and essentially be classified as one distinct segment of the population at large. The other classes of riders, competitive and recreational, can probably be viewed in a similarly unified manner, riders by choice; not by necessity.

Regardless of what motivates them however, the American perspective on riding is again largely derived from choice, and not so much by culture. The variety of makes and models now available to the American Bicycle buying public affords much latitude in deciding upon how one rolls; oftentimes, a rider's choice being one driven by fashion; function following form, as it were.

Ultimately, what motivates what one rides, and how they ride, can be viewed with less critical concern, as long as they are riding to begin with. The infusion of Olympic culture, I believe, motivates people to engage in healthy lifestyles; and to make choices in recreation and exercise that might not have been so immediate and prevalent, absent an Olympic awareness. This is one significant takeaway which I believe Chicago will glean, win or lose in its bid to host the 2016 Games; that sport, be it for competition or exercise, is good; it motivates and engages, it rejuvenates and rehumanizes.

City Hall peddles $40-mil. bike path

Crain's Chicago Business

Seems the City of Chicago and I were on the same virtual mental wetpath when I first discussed initiatives for Bicycle commuting and transportion here in this Blog.

"You May Say I'm A Dreamer..."

...but I'm not the only one"

Flush Bid

All In On Olympic Bet

In a move which may serve as a catalyst to a major transformative experience, or alternatively, could leave a legacy of debt to future generations, the Chicago City Council last week authorized Mayor Daley to sign a host city contract that amounts to an unlimited guarantee from Chicago taxpayers.

The 49-to-0 vote resonated loudly through Council Chambers, reverberating its intent to International Olympic Committee members, that while Chicago may have initially been hesitant to make such a commitment and sign on the dotted line, there’s no hesitation anymore.

“We are joining the ranks of the other three [finalist cities]. No longer will we be at a competitive disadvantage,” stated Chicago 2016 Chairman Pat Ryan.

Shortly before the roll call, an impassioned Daley almost challenged City aldermen to vote against the Olympics.

“Vote your conscience. If you firmly believe and you have the courage, you vote no … Be not afraid of the stand you’ve taken before in a committee or on the floor.”

If Chicago prevails, and a subsequent 2016 Summer Games are a financial disaster, taxpayers could be left holding the bag.

Both Daley and Ryan claim that ain’t gonna happen.

They assert that Olympic organizers would have to blow through $2.4 billion worth of surpluses, private insurance and previously approved city and state guarantees before Chicago taxpayers would be left standing alone.

Ryan, Founder and Chairman of Chicago-based AON Insurance, indicated that the City would not be taking this leap of faith without a safety net in firmly in place: “This is very, very well protected. We have every catastrophe covered,” Ryan said.

Daley, in the past had repeatedly pledged not to spend “a dime” of taxpayers’ money on the Olympics; trying to avoid matching the full government guarantees pledged by rival contenders Tokyo, Madrid, and Rio De Janiero.

“The IOC made it clear this was non-negotiable,” he said.

With just 17 days to go before the IOC makes its final decision public on October 2nd, it would seem that Chicago has pushed all its Chips forward, and requested a marker to boot; it remains to be seen what hand the City is ultimately dealt in its high-stakes bid for the 2016 Games.