FORUMula1.com - F1 Forum

[andrew]

Would I? I guess I am a cool kid.

[myownalias]

it really didn't interest me in the slightest.

What about if there was an Olympics held in Kansas? Kansas 2024?

That would be a great time to take a vacation for two weeks... and nothing comes to Kansas, it's so dull that even the tumbleweed has left!

[scotty]

As I say, you simply can't look at it in a short term, spend only way, that's just ridiculous.

I think you are mistaken if you thought anyone discounted the future benefits. I certainly didn't, and i didn't see anyone else doing that in recent pages, so i don't know why you make such vehement comments about people supposedly being idiotic and blinkered here.

I still think the amount of money splashed out on this event was borderline reckless and the timing such spending that amount almost couldn't be worse. Nothing i have read has lead me to believe that that amount of money (i have seen spending figures higher than what you've quoted, generally around £12-13bn) will be recouped in it's entirety. Especially if you consider that it was over budget by perhaps 20% (appauling in itself in my view, there is no way that should ever happen if people are doing their jobs properly), and almost over the contingency limit. They by definition spent more than they should have, to put it very bluntly. Any predicted future income can very easily fall short as i'm sure you know, and it is not uncommon in the slightest for this to happen.

At best, spending this amount was a major gamble in my view.

[andrew]

The contingency sum is usually only 10% and is normally just that - a contingency. If a project is properly planned (especially one of this magnitude) then the contingency funds should be left virtually untouched.

[What's Burning?]

What's done is done, and the economic environment that the UK signed up to host the Olympics in was not the same economic environment the world has today. People can debate the dollars and cents but there are intangibles that bring money into the country that are difficult to calculate. There are also intangibles in being able to revitalize an area of the city that from what I've read was in bad need of revitalization so why not kill two birds with the same stone?

I say you all come back a few years from now, revive the thread and see what was what and leave all the I told you so's anyone cares to leave.

At least the money spent on the Olympics is money better spent than celebrating a Jubileeeeee.

[LRW]

And what about the positives that CANT be measured? Its not all about the money!

What about the young generation being inspired to get into sport? diverting them away from a life of obesity?

[zurich_allan]

As I say, you simply can't look at it in a short term, spend only way, that's just ridiculous.

I think you are mistaken if you thought anyone discounted the future benefits. I certainly didn't, and i didn't see anyone else doing that in recent pages, so i don't know why you make such vehement comments about people supposedly being idiotic and blinkered here.

I still think the amount of money splashed out on this event was borderline reckless and the timing such spending that amount almost couldn't be worse. Nothing i have read has lead me to believe that that amount of money (i have seen spending figures higher than what you've quoted, generally around £12-13bn) will be recouped in it's entirety. Especially if you consider that it was over budget by perhaps 20% (appauling in itself in my view, there is no way that should ever happen if people are doing their jobs properly), and almost over the contingency limit. They by definition spent more than they should have, to put it very bluntly. Any predicted future income can very easily fall short as i'm sure you know, and it is not uncommon in the slightest for this to happen.

At best, spending this amount was a major gamble in my view.

I stand by absolutely everything I said about people discounting both instant and future benefits. Whether it's here or elsewhere (I was careful not to name names or insinuate individuals), many many people are talking very specifically about the money spent on the Olympics as though it's literally just money being thrown away down the drain - I'm sorry but that isn't even up for dispute, as there are so many that have talked exactly in those terms. And people talking in those terms are being blinkered and idiotic. Nothing worth having or that carries any long term benefit costs nothing, so breaking even in a monetary sense isn't really that important, as long as the 'loss' in relative terms isn't in the ridiculous range, which it won't be. If the loss ends up being, say, net 20% - 30% in the long term once it all pans out (we won't know in the short term), does that automatically mean it was 'reckless' or 'throwing money away'?

Well no, of course it doesn't, because as those that think about aspects beyond the money, because thankfully as there are those that only think about the money there are others that do see beyond that thankfully. As pointed out both by me and others here and elsewhere, there are a lot of intangibles that will benefit the nation in the long term, and that includes the mistakes that were made. Everyone mistakenly(!) believes that mistakes are always a bad thing when they aren't. Mistakes in security for example ensure that in long term planning for any large event they can be learned from to ensure more efficiency, as can mistakes in budgeting if unexpected costs were involved, because those same costs will now become predictable for other large events involving strategic planning. Problems with tickets etc. can also be learned from, along with other organisational issues.

The intabgibles mean that if even a small proportion of young people, or even older people are encouraged to do something about their fitness, health, sports or similar, the health benefits could see savings on NHS costs for weight and chronic health related costs linked to inactivity or obesity. Even if that were only a thousand people up and down the country who otherwise might have been on that road, that would already be savings into the millions of pounds.

Our nation has for a long time been losing a community feel too, where in the past everyone in a street knew each other and helped each other, now in most cases, people keep themselves to themselves and it is not uncommon to not even know the names of the people two doors down from where you live. I have personally spoken to more people than before when they've been out washing their car with a telly facing out from the house with the Olympics on, and I have seen many other similar cases - people having bbq's for the neighbourhood to celebrate certain events for example. This sort of thing can help social issues in communities to a massive extent. Yet another intangible.

I understand your perspective, and that of many others who look solely or majorly on the pure econonomics of this type of thing. I just personally don't agree with it. That's my opinion. It's also my own personal thought that I actually feel sorry for people who think like that, here or otherwise - I'd rather be the sort of person that looks at the glass half full and see the positives or even potential positives where it's only a start that has been made, but ultimately something that can be built upon beyond the money if the concept of 'legacy' is more than just talk - but then that's just me.

If I caused you or anybody else any offence then I apologise, as that is not my intention, however I don't apologise one bit for my opinion, which I strongly believe in. In any case, I think I've made my position clear and put in a bit of detail, I don't think I need to say any more, so I'll leave my thoughts on the issue and on this thread at that.

[racechick]

I concur with you Zurich_allan. Unlike the millenium dome, which I do think was a waste of money, I think the Olympics were a huge success on many levels. Yes they went overbudget, which was fairly inevitable, but not hugely overbudget. The benefits are not always immediate, as Zurich_allan pointed out, but in these days of doom and gloom I think the benefits are huge. Feel-good factor, community spirit, pride, health (my bike is gonna replace my car!!!), cycle awareness&safety and so many more. And they've been positively commented on across the globe, (apart form one country which at the moment shall remain nameless!)which has knock on effects. You cant compare like for like when talking about budget spending and I think its short sighted to try and do so.

[racechick]

Another snippet about the Olympics. It was the biggest televised event in US history. I'm full of useless information

[What's Burning?]

Another snippet about the Olympics. It was the biggest televised event in US history. I'm full of useless information

Five hours late. I deplored the NBC coverage as they didn't show the events we all wanted to watch during the live events. All swimming finals and track and field finals were shown five or six hours later with the feel good human stories sprinkled in liberally and with all of the competitive nature of the sport edited out, so only the US and it's next rival competitor in that sport were even shown, because you know, there is no one else in the other six lanes.

Man did they milk the blade runner... I'd be surprised if he doesn't have his own reality TV show next year.

[racechick]

Oh thats bad. Ive heard it was similar in Australia. In the Uk we had about 20 channels on BBC so you could pick your event and watch it live. Sorry WB.....guess telling you that doesn't help, we were rather spoilt with our coverage.

[darwin dali]

Another snippet about the Olympics. It was the biggest televised event in US history. I'm full of useless information

Five hours late. I deplored the NBC coverage as they didn't show the events we all wanted to watch during the live events. All swimming finals and track and field finals were shown five or six hours later with the feel good human stories sprinkled in liberally and with all of the competitive nature of the sport edited out, so only the US and it's next rival competitor in that sport were even shown, because you know, there is no one else in the other six lanes.

Man did they milk the blade runner... I'd be surprised if he doesn't have his own reality TV show next year.

This year's Olympics coverage was utter crap: tape-delayed for the high-profile events when on the internet the results were instantaneous, total focus on the US team with their sobbing feel-good stories and those excessive commercial breaks - all in all, a complete turn-off for me and I didn't watch much at all. In fact, I only watched one day and stopped altogether after that.

[andrew]

And what about the positives that CANT be measured? Its not all about the money!

For a country deep in recession it is about money!

What about the young generation being inspired to get into sport? diverting them away from a life of obesity?

Surely this is the job of the parents?!

[LRW]

And what about the positives that CANT be measured? Its not all about the money!

For a country deep in recession it is about money!

What about the young generation being inspired to get into sport? diverting them away from a life of obesity?

Surely this is the job of the parents?!

[What's Burning?]

And what about the positives that CANT be measured? Its not all about the money!

For a country deep in recession it is about money!

What about the young generation being inspired to get into sport? diverting them away from a life of obesity?

Surely this is the job of the parents?!

So society plays no role in the formation of a generation? According to that logic the Nazi youth then was due to baaaaad parenting.