George Parker: And the Host of the 2016 Olympiad Is… Corporate America!
George Parker is the perpetrator of adscam.typepad.com. Every week he shares his opinions on the advertising world with PSFK.
I blogged the other day about how shocked everyone seemed to be that the IOC had the gall to award the 2016 Olympics to Rio, rather than Chicago. Even poking a shitty stick in the Second City’s eye by eliminating them in the very first round of voting. But, as I pointed out, based on the financial problems of almost all previous host cities, Chicago should be thankful they didn’t get it. Montreal’s 1976 Olympics left the city with $2.7 billion of debt that it finally paid off in 2005. That's almost thirty years. Not to mention that these days $2.7 billion won’t even buy you a car company.