London Olympics... Financial Burden.. Way Past Its Sell By Date

[Ayjay]

The current estimate for this sportfest fiasco is £9 billion pounds. The initial budget was estimated at £2 billion pounds. Thats a cost escalation of almost 5:1. The entire 2 week sports love in will cost approximately the same as the channel tunnel cost to build.

Keeping in mind that this sporting extravaganza will leave behind practically no public infrastructure; Just why are we doing this? Frankly I would prefer to donate the cash to worthwhile aid agencies, or fund the South - North high speed rail link from London to Edinburgh...

To add insult to injury, some pompous ass of an Olympic official is in London insisting that dedicated road lanes be provided during the games so that officials will not be delayed travelling to and from the sporting venues.

AJ

[KeithD]

As a lot of the money comes via Southerners I couldn't give a hoot :icon_lol:

Besides, the government would only waste the money on something else :doh

[Ayjay]

As a lot of the money comes via Southerners I couldn't give a hoot :icon_lol:

Besides, the government would only waste the money on something else :doh

Yes, I appreciate that those in the conquered territories to the North of Isslington may feel that way..!! And essentially you are right, most Londoners will be footing the bill for the next 20 years on their council tax.

I look forward to the day when Londoners will burn Lord Coe in effigy on Vauxhall Bridge and force him into exile..

However, I think that my point is still valid, the money could have been better spent funding the high speed rail link between London and Edinburgh.

AJ

[GaryFifer]

The current estimate for this sportfest fiasco is £9 billion pounds. The initial budget was estimated at £2 billion pounds. Thats a cost escalation of almost 5:1. The entire 2 week sports love in will cost approximately the same as the channel tunnel cost to build.

Keeping in mind that this sporting extravaganza will leave behind practically no public infrastructure; Just why are we doing this? Frankly I would prefer to donate the cash to worthwhile aid agencies, or fund the South - North high speed rail link from London to Edinburgh...

To add insult to injury, some pompous ass of an Olympic official is in London insisting that dedicated road lanes be provided during the games so that officials will not be delayed travelling to and from the sporting venues.

AJ

Hmm.I can relate to that one.Edinburgh has the tram link, which has left many people :Brick: why is it there? Tracks are not as flexible as a bus route anyway.

Surely, since the ice caps are melting, he should not use a car, and promote green issues as a high ranking Olympic official should be on his bike riding into town.

Question about that report. Billion. Is it the UK million million, or the US thousand million. You need to ask the treasury that one.

[KeithD]

However, I think that my point is still valid, the money could have been better spent funding the high speed rail link between London and Edinburgh.

AJ
With no stops North of Luton until you get to Edinburgh, we don't want those pesky Southerners up here :D

[JimOttley]

Hmm.I can relate to that one.Edinburgh has the tram link, which has left many people :Brick: why is it there? Tracks are not as flexible as a bus route anyway.

Surely, since the ice caps are melting, he should not use a car, and promote green issues as a high ranking Olympic official should be on his bike riding into town.

Question about that report. Billion. Is it the UK million million, or the US thousand million. You need to ask the treasury that one.

Ah Gary the British billion is but a footnote in history, it is pretty much accepted everywhere these days that 1 billion is 10 to the power 9 and 1 trillion is 10 to the power 12 in money terms.


Jim

[walesrob]

The current estimate for this sportfest fiasco is £9 billion pounds

How is it a fiasco? It's a great sporting event. Its bound to cost a lot of money. How would you have done it then?


Frankly I would prefer to donate the cash to worthwhile aid agencies, or fund the South - North high speed rail link from London to Edinburgh... A letter to 10 Downing Street would be a good start


pompous ass of an Olympic official is in London insisting that dedicated road lanes be provided during the games so that officials will not be delayed travelling to and from the sporting venues.

AJ Got a link for that?

[KeithD]

Financial UK instituitions still use the UK Billion, not the US one, the computers the traders use automatically convert so the actual trading is all done in the same units in micro-land.

[somebody]

How is it a fiasco? It's a great sporting event. Its bound to cost a lot of money. How would you have done it then?



A letter to 10 Downing Street would be a good start Got a link for that?

Asked the welsh to sell all their Sheep:D


With Brown out soon sending a letter to everyone else labour or tory is probably the best bet.

Its all over the london media and im sure national media the Olympic committe write in they want lanes purely for vips and those involved in the olympics.

Boris complianed but its in the contract and the olympic busy bodies would not even consider using public transport.

The main lines they wish to use overground and underground for us plebs if we so wish to go to the olympics are so over used at present they will either have to close down much of london workplaces or :Erm:

[Ayjay]

Asked the welsh to sell all their Sheep:D


With Brown out soon sending a letter to everyone else labour or tory is probably the best bet.

Its all over the london media and im sure national media the Olympic committe write in they want lanes purely for vips and those involved in the olympics.

Boris complianed but its in the contract and the olympic busy bodies would not even consider using public transport.

The main lines they wish to use overground and underground for us plebs if we so wish to go to the olympics are so over used at present they will either have to close down much of london workplaces or :Erm:

Indeed... and the following link does not make good reading:

http://bleacherreport.com/articles/129402-beijings-empty-venues-display-financial-burden-of-the-olympics/show_full

AJ

[JimOttley]

Financial UK instituitions still use the UK Billion, not the US one, the computers the traders use automatically convert so the actual trading is all done in the same units in micro-land.

So when Alistair Darling says we had a budget deficit of 90 Billion in April and forecasts 180 Billion or whatever the horrific number is, what units is he using :Erm:

Personally I've not seen or heard a financial report in the UK that used the British billion, pretty much ever.

Jim

[Ayjay]

So when Alistair Darling says we had a budget deficit of 90 Billion in April and forecasts 180 Billion or whatever the horrific number is, what units is he using :Erm:

Personally I've not seen or heard a financial report in the UK that used the British billion, pretty much ever.

Jim

Mathmatically one billion is 10 raised to the power 9. or, 1000,000,000..

So just what is a Brit billion..??

AJ

[JimOttley]

Mathmatically one billion is 10 raised to the power 9. or, 1000,000,000..

So just what is a Brit billion..??

AJ
How old are you?

10 to the power 12 as I pointed out above. (correction I implied it above)

one million million

It used to bug me as a young adult in the 1980's but not anymore I am pretty relaxed about most things these days :)

jim

[Ayjay]

How old are you?

10 to the power 12 as I pointed out above.

one million million

It used to bug me as a young adult in the 1980's but not anymore I am pretty relaxed about most things these days :)

jim

Are you sure..???

http://en.wikipedia.org/wiki/1000000000_(number)

I will accept your gracious apology in your next post.. Or any links to any other definition past or present...

AJ

[Dedworth]

A total overhyped waste of money I've no interest in it whatsoever.

[KeithD]

http://www.jimloy.com/math/billion.htm

[JimOttley]

A total overhyped waste of money I've no interest in it whatsoever.

To make an on topic comment for once, I think it's great, every counrtry has overspent on the Olympics, it's a pity the recession arrived when it did but 2012 will be special for Britain.

Jim

[Ayjay]

http://www.jimloy.com/math/billion.htm

Thanks for this... and this is new to me since I have always treated such numbers in an engineering context.. where 10^9 as one billion..

AJ

[JimOttley]

http://www.jimloy.com/math/billion.htm

Yep everywhere but the US it's the square of the previous number in the US it's 1000 times the previous number.

They just like getting to use all those big sexy numbers quicker than all the rest of us, everything is always bigger in the states ;)

jim

[JimOttley]

Are you sure..???

http://en.wikipedia.org/wiki/1000000000_(number)

I will accept your gracious apology in your next post.. Or any links to any other definition past or present...

AJ

AJ sir, that was not even a wiki page it was a placeholder for an error :icon_lol:

Boss found a good reference, most kids from the 60's or earlier would recognise the british billion, even young Gary knew about it.

Personaly I am sad to see it's decline but what the heck, we get to use big number names the US way :)

Let's just hope that US trillion does not become a familiar number of pounds on the news ;)

I'm on a cellphone btw which is why my replies are a bit slow. :)

Jim

[Ayjay]

AJ sir, that was not even a wiki page it was a placeholder for an error :icon_lol:

Boss found a good reference, most kids from the 60's or earlier would recognise the british billion, even young Gary knew about it.

Personaly I am sad to see it's decline but what the heck, we get to use big number names the US way :)

Let's just hope that US trillion does not become a familiar number of pounds on the news ;)

I'm on a cellphone btw which is why my replies are a bit slow. :)

Jim

Thanks for taking time out to reply... I suppose that the upside to this is that the terminology has been standardised thus eliminating potential confusion..

Regards

AJ

[KeithD]

......everything is always bigger in the states ;)

jim
Even their :icon_tonguew: are bigger.....just a pity they are on the head :rolleyes: