Word: hosting
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...that hasn't always been true. The economic benefits of the Olympics for host cities are at best mixed, and the opening bravado often descends into recrimination and regret. Of course, there are obvious benefits for an Olympic host city - primarily the opportunity to showcase itself in front of a global TV audience numbering in the billions. Indeed, many view the Olympics as the ultimate infomercial to help attract business and foreign direct investment...
...amount, $1.6 billion, for the 2008 Summer Games yet spent an enormous $40 billion. London originally planned to spend $8 billion for the 2012 Games; the current estimate is $19 billion and rising. "Once the Games leave town, there often isn't much to celebrate," says Humphreys, noting that host countries nearly always experience a drop in GDP growth in the year after the Games. (See highs and lows from the 2008 Beijing Games...
...Vancouver, which will host the Winter Olympics in 2010, has already had its debt rating downgraded because its Olympic Village has turned into a money pit that could end up costing taxpayers as much as $1 billion. As for the total price tag for Vancouver's Games, estimates vary from $1.6 billion to $5.5 billion. (Read "In Hard Times, Olympic Plans Go On a Budget...
...nearly 68,000 troops already in Afghanistan by "dithering," as the top Republican on the Intelligence Committee, Kit Bond, put it on Fox News Sunday. And there are inherent political dangers for Obama if he chooses to buck the advice of his military commanders. Fox News Sunday's host, Chris Wallace, went so far as to ask his guests if Obama could follow the Harry Truman mold that led to the firing of General Douglas MacArthur. "A half measure does not do justice," Senator John McCain said on ABC's This Week. "And time is important, because there...
...Camara initially looked like he was serious about cleaning up the country. He became the host of a popular television program in which he grilled former Conte cronies about their role in cocaine-smuggling operations in Guinea - under Conte, the country had become a stopover for cocaine shipments from Latin America to Europe. But Camara's heavy-handed approach soon turned off most of the country's non-military politicians and trade-union members. Ordinary Guineans, who had once been enthralled by his vociferous television appearances, over the past few weeks started demanding a change of power in several anti...