Word: costing
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Dates: during 2000-2009
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...terms of sheer financial disaster, however, it would be hard to match Montreal's 1976 Games. It has taken the city more than 30 years to pay off its extravaganza, the cost of which is still not entirely known, according to Humphreys. The Olympic stadium was a particular disaster; originally budgeted for C$156 million, it ended up costing the city C$2 billion, including numerous fixes to the roof and years of interest payments. The Quebec government had to introduce a special tobacco tax to help pay down its Olympic investment...
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...
...months it had been clear that the FDIC, which maintains a fund to protect deposits when banks fail, would soon run out of money. By the FDIC's own revised estimate, the credit crisis, which has already claimed 95 banks this year, will cost the agency $100 billion. Half of that has already been spent. It's the other half the FDIC is having problems coming up with. As of the end of June, the FDIC had about $10 billion left in its insurance fund. That has put the FDIC in a tough spot. When a bank fails...
...onetime fee to banks to raise the money it needs for its fund. But bank executives have been saying that any additional payments they have to make to the FDIC above their normal quarterly bill would force them to cut lending. Special assessments have to be recorded as a cost when they are paid to the FDIC, which reduce bank earnings and capital. It was a capital crunch that caused the financial crisis in the first place. (See pictures of the global financial crisis...
...horses entered into the Spring Carnival. With Kadyrov's official income declaration of an $110,000 salary and a 36 square-meter apartment in Grozny, Kadyrov's penchant for racing has at least raised a few eyebrows in the Russian media. A spokesman for Victoria Races said the cost of sending Mourilyan to the Melbourne Cup alone is in the six figures. Kadyrov's spokesperson, Alvi Karimov, refused to comment on any of Kadyrov's racehorses or on Mourilyan's entry in the Melbourne Cup to TIME on Sept. 21. (Read "Killings of Russia's Human-Rights Activists Continue...