Word: chicago
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...decision on Oct. 2, after considering rival bids from Madrid, Tokyo and Rio de Janeiro (which is considered the front runner). But in light of the heavy financial burden that is associated with staging the Olympics, the question is: Would getting the Games really be a good thing for Chicago...
...there is one Olympic city for Chicago to emulate, it would be Atlanta. The city's $1.7 billion privately funded Summer Games in 1996 sparked a construction boom in the city's downtown core and, according to the Metro Atlanta Chamber of Commerce, generated $5 billion in economic activity, including $1.8 billion in hotel, residential and commercial construction. What's more, the city found long-term uses for its Olympic venues, transferring the Olympic stadium and village to the Atlanta Braves and Georgia State University, respectively. "The Olympics gave Atlanta a tremendous boost in commerce," says Sam Williams, president...
...Chicago estimates that the cost of hosting the 2016 Olympics will be $4.8 billion. If its bid finds favor with the IOC this week in Copenhagen, the city might be well advised to get venues shovel-ready as quickly as possible, for it has one advantage that Atlanta didn't: access to a portion of Washington's $787 billion economic stimulus package, much of which is still being allocated...
...other hand, Chicago doesn't make the cut, the city shouldn't feel too bad. For municipalities, the Olympics deliver more broken dreams than gold medals...
...things to do in Chicago...