A few days ago, Deputy Prime Minister Dmitry Kozak estimated that the Sochi Winter Olympic Games would cost $51 billion. That's a lot of money — as the AP notes, it's way more than the $6 billion Vancouver spend on the last Winter Games in 2010.
In Part 1 I covered the macroeconomic impact of Olympics (http://trueeconomics.blogspot.ie/2014/02/822014-economics-of-olympic-games-part.html) while Part focused on labour market impact and the effect of the games on the host city (http://trueeconomics.blogspot.ie/2014/02/822014-economics-of-olympic-games-part_8.html)
In the age of social media, Twitter hath no fury like an alleged mistress scorned. The self-proclaimed lover of a billionaire New York investor is not only suing the financier, but confronted his wife on the micro-blogging site.
You must have known @akmunroe http://t.co/1Fwad59mOv
For a few hours on Wednesday, tons of folks were buzzing about a new free mobile app called Yo, which simply allows you to message the word "Yo" to your friends. That's all. A one word message. As with most new ideas, people across social media were quick to dismiss Yo.
Almost one and a half million more people play sport every week and a future has been secured for all the permanent venues on the Olympic Park.
However, the report, published on the first anniversary of the Games, warned that it will be a “challenge” to create a lasting Olympic legacy of more volunteers, reports The Telegraph.
Comcast CEO Brian L. Roberts said Thursday that Comcast doesn’t expect to make a giant profit from the 2016 summer Olympics in Rio de Janeiro but defended its heavy spending to acquire rights to additional Olympic telecasts. “I am so glad we stomached it,” he said of Comcast’s 2011 agreement to spend $4.38 billion to acquire additional rights.
LAUSANNE, Switzerland (AP) — IOC leaders dropped wrestling from the Olympic program on Tuesday, a surprise decision that removes one of the oldest Olympic sports from the 2020 Games. The IOC executive board decided to retain modern pentathlon — the event considered most at risk — and remove wrestling instead from its list of 25 "core sports."