Staggering Sochi Spending
I am a big fan of the Olympics. Always have been, ever since the year the Summer ones were held in L.A.
For some reason, I am REALLY looking forward to this year's Winter Olympics... way more than usual. Hockey, curling, and bobsledding are my 3 favorites to watch. Skiing is neat also, but (like figure skating) it gets a little old after awhile.
The 2014 Olympics start in just a couple weeks and are being held over in Sochi Russia.
Apparently, they have gone over budget.... WAY over budget....
In 2007, when Russia won its bid to host the 2014 Winter Olympics, the country estimated the games would cost $12 billion. Seven years later, with the opening ceremony just three weeks away, the cost of the games has exploded to an estimated $50 billion, CNN reports, which is believed to be the most expensive Olympics in history.
$12 billion to $50 billion ?? Good heavens!
Why? Read here.
And get this.... up to $30 billion may have been embezzled!
Good heavens (again)!
Out for now.....
Matt
