I KNEW it!!!

[Cateyes]

Gotta remember too.. Alberta may be running a temporary fiscal deficit while waiting to see which way the global wind blows, but they are effectively debt free, with a lot of cash savings in the bank to boot, as well as no provincial sales tax or carbon tax. Albertan's in general are in pretty good shape I think due to many years, indeed decades, of prudent money management, including that spent on the Calgary Olympics.

Nab

I would personally like to think it is because Alberta has the lowest percentage of NDP socialists than anywhere else in the country.

And BC has one of the highest percentages than anywhere else - coincidence that we have a 7% sales tax while they have zero and we have a 4% higher personal tax rate than Alberta? I don't think so.

Oy vey. They have oil and we don't. Is it really so hard to understand?

Personally I don't care NDP or Liberal or Conservative. There isn't that much difference IMHO. I don't blame any one party for the Olympic fiasco either. That's just silly.

[normaM]

Gotta remember too.. Alberta may be running a temporary fiscal deficit while waiting to see which way the global wind blows, but they are effectively debt free, with a lot of cash savings in the bank to boot, as well as no provincial sales tax or carbon tax. Albertan's in general are in pretty good shape I think due to many years, indeed decades, of prudent money management, including that spent on the Calgary Olympics.

Nab

I am still trying to figure out where the title transfer money grab goes ( Alberta doesn't have that either)

So now I sit and hope some rich Olympic tourist will offer me a vulgar amt of coin for my house.

[Liberty and Truth]

Oy vey. They have oil and we don't. Is it really so hard to understand?
.

*personal attack removed* ferri

http://www.calgaryherald.com/business/K ... story.html

Not only does BC have oil and gas, we've got mining, something Alberta doesn't. Mining generates billions of dollars for BC's economy. Is it really so hard to understand?? *personal attack removed* ferri

[Nebula]

Original post:

http://www.theglobeandmail.com/news/national/british-columbia/games-over-bc-hits-spending-brakes/article1486169/

Why am I not surprised?! We are going to PAY for it. We are left in the dust and have to pick up the higher taxes and cuts all in the name of Olympics.

FYI..I never even went there or cheered them on.

Reality: Increased spending, not cuts. Miniscule higher taxes (slight increase in MSP premiums.)

Could it be you didn't actually know it?

[NAB]

Original post:

http://www.theglobeandmail.com/news/national/british-columbia/games-over-bc-hits-spending-brakes/article1486169/

Why am I not surprised?! We are going to PAY for it. We are left in the dust and have to pick up the higher taxes and cuts all in the name of Olympics.

FYI..I never even went there or cheered them on.

Reality: Increased spending, not cuts. Miniscule higher taxes (slight increase in MSP premiums.)

Could it be you didn't actually know it?

Well Neb. Given this governments penchant for saying one thing and doing another (as indicated in the article referenced in the OP compared to now), I would think that no one knows for sure what they will do yet, regardless of what the budget says. Each day is a new day with these guys.

The next hurdle will be when the Olympics financial results get figured out, as well as get a grip on first quarter revenues results.

Nab

[MAPearce]

Very convenient I suppose that all the BC whiners can keep pointing at the Olympics as the source of all their woes for without that they'd have only Gordo to pick on.

I sure hope when we climb out of this recession before all the others that the negative nellies get together collectively and send an apology to Gordo. Yeah that'll happen...........NOT!

How VERY true.I had no idea of the debts the other Canadian provinces had untill I read it here on castanet.BC will undoubtably recover from these bad economic times FAR better and faster than the rest of Canada BECAUSE of what GLENN CLARKE started in the first place.Why not give Glenn the NDP glamour puss and his "dream team" the credit they deserve for having the foresight to provide an economic stimulus program, with at least some federal money,far before anyone could have imagine it being needed.That won't happen.Carol James and the labour loving NDP are only to willing to jump on the band wagon just to joust the fiberals.Oil markets,Housing,lumber...All these markets TANKED right in the middle of the games,yet many people forget that.How about an aging population that requires much more health funding?? Who's fault is that?It ain't Gordo's OR Carol James'.Come on people,look at some other provincial economies.The ONLY reason BC is not in a WORSE state is directly because of that BIG bash we just put on.Many people had jobs and supported families because of the infastructure spending that went on because of the games.I do think that Gordo and Vanoc could have been more frugal,but HELL,look at the numbers put out by the other provinces and TRY to convince me that this little "trade show"hasn't already payed off. There is nothing ANYONE can say to change my mind.I saw it during AND after Expo 86.

[Liberty and Truth]

I am curious to know how much VANOC made from clothing sales alone. Try buying anything at the Bay right now with an Olympic logo on it - everything is sold out!

[Captain Awesome]

I know. Tried to buy a jersey.

[Cateyes]

Boy,

That didn't take long for the hangover to set in.

http://www.vancouversun.com/business/bu ... story.html
I especially liked how the politicans tried to cherry coat it. Like suddenly all this new business will start flowing in because someone saw a snowboarder do a flip on TV on a ski hill with helicoptered in snow against a majestic mud backdrop. As If nobody knew about Vancouver before. Thousands of vancant foreign owned condo's say otherwise.

And before the math challenged jump in and say "look it's only 250mil now". Well 250mill on paper for BC but the Fed's gotta pay for that other 700million somehow. The good news it that all of Canada has to bend over and take it without lube. Not just BC.

[Al Czervic]

Boy,

I especially liked how the politicans tried to cherry coat it. Like suddenly all this new business will start flowing in because someone saw a snowboarder do a flip on TV on a ski hill with helicoptered in snow against a majestic mud backdrop.

Air China announced announces they are increasing Flights to Vancouver adding THREE more non-stop flights a week starting in June. the rest of the article can be viewed here....

http://news.xinhuanet.com/english2010/china/2010-02/25/c_13187678.htm

[NAB]

Now we see the provincial budget, obviously the net cost of the Olympic "party" will just flow quietly to increased public debt and, once VANOC strokes and closes its books, "we" will be on the hook should there be any shortfall in their operations - which will also flow to the public debt that is OPTIMISTICALLY projected to grow in total by "only" 8.2 billion (that's BILLION folks, not petty cash millions or so) dollars over the next three years IF budgetary targets are met. Trouble is, so much of the annual balancing act depends on revenue projections being met, and that becomes a turkey shoot on all fronts. But hey, the world is going to beat a path to our door now and spend like drunken sailers, right?

Anyroad, now the jobs and economic spinoffs that relied on managing and developing infrastructure and staging the Olympics will disappear, along with a bunch more in the private sector and some 3 - 4000 provincial government jobs over the next three years. Budgets of a number of ministries have been cut, and we can look forward to other "adjustments" as necessary depending on whether revenues meet expectations going forward or not.

But hey, health care and education are getting a bit of a shot in the arm to the tune of around 2 billion or so, while cost of wages and benefits will be effectively frozen.

So lessee, mmmmm, that leaves roughly 6 Billion dollars of added public debt relatively unaccounted for. Interesting number that but regardless, none of that has anything to do with the Olympics right? But even if it did, the party goers had a lot of fun, and don't have to pay for it...

...yet anyway ;-)

Then I wonder I if the interest costs on all that extra borrowed money will be charged against Olympics costs too?

And of course there are all those partying "fans", many of whom I suspect will be looking for ways to trim their budgets and cut their spending when their credit card statements arrive.

Nab

[Liberty and Truth]

You are right NAB - so I guess let's now decide not to hold the Olympics afterall. Whoops - too late. What is your point exactly? What is it you want to accomplish? For everyone to say that we shouldn't have had the Olympics? It ain't going to happen. So you and your pal CE there can continue to whine away but the Olympics are over - and that isn't going to change - so now we either shut up and pay, or cry like little babies and pay - and we can see what option you are taking.

[NAB]

You are right NAB - so I guess let's now decide not to hold the Olympics afterall. Whoops - too late. What is your point exactly? What is it you want to accomplish? For everyone to say that we shouldn't have had the Olympics? It ain't going to happen. So you and your pal CE there can continue to whine away but the Olympics are over - and that isn't going to change - so now we either shut up and pay, or cry like little babies and pay - and we can see what option you are taking.

Time to move on to more important and relevant issues is my point L & T. We all are quite aware that you cannot unring a bell - what's done is done. I gave up trying to stop the Olympics from happening years ago (but not trying to inject some sense into their thinking). At that point my hope, like most others here, was that the Olympics would be as financially successful as possible... cut our losses as it were.

I'm glad you enjoyed the Olympics, I enjoyed part of them too (from a distance). But you are being very naive if you expect everyone to just shut up about how we deal the cost of them just because you say so. As for CE, IMO he/she has every right to express his/her opinion. That you don't like it is your problem.

Actually, for my part I am quite happy at this point since I didn't expect the government to just throw the costs into increased debt. I personally didn't spend any money related to the Olympics, so have no hangover on that front. Now I see government is not going to hammer me for something I was strongly opposed to in in the first place I can breath a temporary sigh of relief over that too.

One thing still lingering with me however (other than I'm still waiting for a response to my question as to whether it would be a good thing to take the NHL out of involvement in the Olympics), is I have not seen any reports as to what life was like for the marginalized and homeless in Vancouver during the "party". Did they enjoy it too? ...and what it will be like for them now that the party is over?

Edit to add: On a positive note, at least they had good weather for "winter" dumpster diving and sleeping. Was it quiet enough where they were to be able to get some sleep? Were they able to "profit" in some way from the Olympics being in town?

Nab

[grumpydigger]

I don't think anybody expected, the truthful expenditures for the Olympics layed out on a platter so the people of British Columbia could inspect it........I don't believe any politicians work that way......

It is much easier, to use diversionary tactics while people are still riding on a high from the Olympics........after all the money we spent, we still have the highest child poverty rate the lowest minimum wage,and pretty much all other locations in British Columbia other than the lower mainland had seen no advantage from the money spent on the Olympics at all......as welfare rates climb as peoples employment insurance benefits run out......

but hey let's just ignore that..............

[NAB]

Boy,

I especially liked how the politicans tried to cherry coat it. Like suddenly all this new business will start flowing in because someone saw a snowboarder do a flip on TV on a ski hill with helicoptered in snow against a majestic mud backdrop.

Air China announced announces they are increasing Flights to Vancouver adding THREE more non-stop flights a week starting in June. the rest of the article can be viewed here....

http://news.xinhuanet.com/english2010/china/2010-02/25/c_13187678.htm

Surely Al you are not trying to make a case that those extra flights starting in June have anything to do with being a benefit of the oilympics? Those were in the cards long ago, and for a variety of non-olympic related reasons as the article points out.

Edit to add: It is interesting however that it is Air China that is adding the flights, not a Canadian Airline.

Nab