Looking past Beijing to London
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The Beijing Games have yet to begin, but the 2012 London Games organizers weighed in today with a lengthy report on progress -- and potential problems -- with that city’s Summer Olympics.
The Olympic Delivery Authority’s annual report includes a reference to the worldwide credit crunch, delivered by ODA Chief Executive David Higgins:
There will always be financial challenges on a multibillion-pound programme of this complexity and we are directly impacted by the credit crunch and the deteriorating property market. We will continue to exert the tightest possible financial control while striving for maximum value from the investment in the project. We can only deliver by working together.
London Mayor Boris Johnson, the Associated Press reports, last month cautioned organizers to keep their budget from spiraling out of control. The warning came after a study determined that construction costs had increased by $207 million in the previous seven months.
The ODA today reported that staff bonuses had soared from $1.1 million in the previous 12-month period to $3.35 million. Higgins was awarded the most performance-related pay, adding $409,000 to his $738,000 salary.
The BBC’s website has a link to a webcam that focuses on the main construction site.
-- Greg Johnson