$23,000 average bonus for Olympic workers

[butcher99]

Well, if they did not give themselves the huge bonuses at games end there would be a profit wouldn't there. So it is non-profit except that they pay out the profit to themselves come games end.

Ok, let's do it again:

1. Vanoc is a private company
2. It is not gov't run
3. It does not get their funding from the gov't
4. It's not connected to any branches of the gov't in any way outside of board of directors.

It is a non profit organization running the Olympics for BC. Lets say it has no affiliation with the government of BC.
#1. Where did the startup cash come from?
#2. Who is paying the salaries of these people until the money starts to roll in.
#3. If it is non profit where does the money go from the sale of all those goods?
#4. Where does the $30,000,000 come from that will be paid in bonuses if this is a non-profit organization. If they do not pay that out would that not be profit?

These olympics were sold to the people of BC as great for the people of BC. It appears they are much greater for the fat cats who sit on the board and for the employees who will share the "non-profit" $30,000,000.

And yes, I do understand that Goldman Sachs is an American company. I used them as an example because of the obscene bonus system they have. Sort of on par with Vanoc when you consider the size of the corporation.

If they only made the budgets larger at Goldman Sachs then they to could be a non-profit organization. Oh ya, they were. Until the government of the US bailed them out.

Now, for your remark about no monies were given by the government may I quote the Vanoc press release again.
"(VANOC) is a not-for-profit organization, incorporated under the Canada Corporations Act. Supported in part by the Government of Canada and the Government of British Columbia"

Supported how? If not monetarily then maybe the government makes tea for them everyday?

Why would I tell a non-profit organization that their $30,000,000 should support the people of BC who are in the most part responsible for that money instead of giving themselves bonuses? Good question. One you should think about as you, your parents or children or friends wait in line for elective surgery. When your turn comes maybe you will think about it a little more.

They are not a private organization either. They were set up by the very much public governments of Canada to run the Olympics. In name they may not be a public organization but in actuality they are. This as I said gives the government the ability to opt out the back door if things go awry.

If as appears to be happening Vanoc loses millions of dollars on the Athletes Village who will be responsible for that? Will they declare bankruptcy take their bonuses and go home?
The people of BC will be on the hook, or more specifically, the people of Vancouver will foot the bill. Does that not make them more a public non-profit than a private company?


So, lets see
They were setup by government
The people on the boards are mainly government appointed.
They are supported by the government.
They are not a private company, they are an organization.

Other than that.

[Captain Awesome]

All good questions. I don't know much about Vanoc structure to answer that.

[damngrumpy]

When the bid was put in it was sponsored by the government, also the Federal government put
somewhere near 100 million dollars and a bit more later.

2 from the cost sharing arrangement of government. I addition there are a number of BC
Government Employees on loan from the Province being paid volunteers. They will also get
on average, 23 thousand in bonuses on top of that.

3 I am not sure about the answer to this question

4 government funds and the security is largely going to be paid by the feds with some provincial
money. And remember the athletes village was finished with a 100 million dollar loan guarantee
from the city of Vancouver after the contractors ran out of money.

Tell me about no government involvement, before this thing is over, it will cost taxpayers on the
hook for more than two billion dollars for a project the government said wouldn't cost us anymore
than, 640 million.
All this for a seventeen day romp in the snow for the privileged few, and profits for real estate
people, the tourism industry and a few speculators. Who pays, the old, the young, the average
working guy who can't even get a pass to drive up the sea to sky highway that they paid for.
Foreign workers will be driving the buses and providing leased equipment. Do you still think
the government isn't paying for this thing?