"Cash-strapped" Sydney Cutting Back Games

"Cash-strapped" Sydney Cutting Back Games

Post by w00d.. » Fri, 16 Apr 1999 04:00:00


***** From today's Sydney Morning Herald.... cash-strapped Sydney Olympics
will need to make even more cuts in Olympics site operations.

Thursday, April 15, 1999

Games chiefs scrape barrel

By MICHAEL EVANS, Olympics Reporter

Sydney's cash-strapped Games organisers will today discuss dipping into their
contingency fund as pressure mounts for further cutbacks in operating costs.

And SOCOG's chief executive, Mr Sandy Hollway, said organisers might not
be able to take "large chunks" out of the $200 million in sponsorship which is
still to be raised, resorting instead to "scrounging and scraping" for smaller
amounts.

Mr Hollway and the chairman of SOCOG's finance committee, Mr Brian
Sherman, have foreshadowed discussion of SOCOG's contingency,
emphasising revenue targets and operating budgets were tight.

Mr Hollway raised the contingency issue yesterday while discussing today's
SOCOG finance committee meeting to discuss the budget.

"A decision will be taken at the April or May [full] board about whether we
need to make any cutbacks at this point and the extent to which we may also
be able to draw down on the contingency, should we need to," Mr Hollway
said.

Mr Sherman has described today's meeting as the "most concerted" budget
reassessment to date.

"I think we're looking at the contingency and the risks and awards because, as
each month progresses, they change in nature. Some of them disappear and we
want to see whether our contingency is adequate - too much or too little," he
said.

A SOCOG spokesman said $121 million remained in the contingency fund,
which had been dipped into only twice.

Mr Sherman refused to rule out further budget cuts in SOCOG, saying there
might be no more fat in some departments after major cuts last year valued at
$290 million.

"The agenda is to have a hard and close look at all our line items to see
whether we do need to take any action in the future," Mr Sherman said.

Asked whether there was room for further cuts in the organisation, he said:
"It's a quantitative call ... in that there's a certain level that people
would be unhappy to go below."

A point existed, below which "the product" would be damaged if organisers
cut, he said, but he could not rule out further cuts.

"We've already gone through a number of rounds of review. Last year, we had
a very hard look, but it's now six months on and things change, and so there
might be.

"We might be looking at staff size and say we don't need to take on as many as
we anticipated. We could get more volunteers, more sponsors who might be
out and about."

Mr Hollway effectively ruled out SOCOG signing more major sponsors,
emphasising smaller amounts would be targeted.

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"Cash-strapped" Sydney Cutting Back Games

Post by ice.. » Tue, 20 Apr 1999 04:00:00


Quote:

> ***** From today's Sydney Morning Herald.... cash-strapped Sydney Olympics
> will need to make even more cuts in Olympics site operations.

> <snip>

The first thing to go was a million dollar 'artwork' - wrapping a 5 level
carpark in steel mesh.
See a pic:
http://www.smh.com.au/news/9904/12/graphics/990412_artwork.jpg
I'm sure it will be sorely missed (not).

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"Cash-strapped" Sydney Cutting Back Games

Post by w00d.. » Tue, 20 Apr 1999 04:00:00


Quote:



> > ***** From today's Sydney Morning Herald.... cash-strapped Sydney Olympics
> > will need to make even more cuts in Olympics site operations.

> > <snip>

> The first thing to go was a million dollar 'artwork' - wrapping a 5 level
> carpark in steel mesh.
> See a pic:
> http://www.smh.com.au/news/9904/12/graphics/990412_artwork.jpg
> I'm sure it will be sorely missed (not).

****** I agree. Yuuuuuuuuuugh! That was ugly. Sometimes the strangest things
pass for "art"...... now if they can find 100 or 200 more of these
million-dollar Olympic "art" projects in Sydney to cancel they'll be back on
budget! :)

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"Cash-strapped" Sydney Cutting Back Games

Post by w00d.. » Tue, 20 Apr 1999 04:00:00



Quote:
> I cant believe I agree with you on something here Woodyee

****** I'm obviously slipping. :)  (Any semblance of a personality or sense of
humor on my part in this news group is purely accidental...I'm too arrogant to
see the humor in myself, huh?)
Quote:

> These art projects are a complete joke,and the worse thing about them is that

they look and are crap!!

****** I agree. Some "modern" art is okay. A lot of it, though, is just silly
and elitist. My question: why the heck was this wrapping of a parking garage
ever included in the Olympics budget *in the first place*? A total waste of
money! I'd heard that the SOCOG was planning to cut its budget in light of
scandal-induced shortfalls of sponsorships by t*** staff and
"decorations." If the Olympics "stink" helps save the world from more
God-awful "artwork" like that.... then I am proud to say that in some small
little way we've helped to make the world a bit saner and better looking,
while attacking the Olympics corruption. ;)

Quote:
> If they do build them,lets stick it in yuppy Bondi,and then the residents have
> something really to complain about instead of a temporary grandstand on

"their"  precious beach!

******* Are there any more mistakes like that "thing" in Sydeny's Olympic
"decorations" budget?

Quote:






> > > > ***** From today's Sydney Morning Herald.... cash-strapped Sydney
Olympics
> > > > will need to make even more cuts in Olympics site operations.

> > > > <snip>

> > > The first thing to go was a million dollar 'artwork' - wrapping a 5 level
> > > carpark in steel mesh.
> > > See a pic:
> > > http://SportToday.org/
> > > I'm sure it will be sorely missed (not).

> > ****** I agree. Yuuuuuuuuuugh! That was ugly. Sometimes the strangest things
> > pass for "art"...... now if they can find 100 or 200 more of these
> > million-dollar Olympic "art" projects in Sydney to cancel they'll be back on
> > budget! :)

> > -----------== Posted via Deja News, The Discussion Network ==----------
> > http://SportToday.org/;     Search, Read, Discuss, or Start Your Own

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"Cash-strapped" Sydney Cutting Back Games

Post by tom » Wed, 21 Apr 1999 04:00:00

I cant believe I agree with you on something here Woodyee

These art projects are a complete joke,and the worse thing about them is that they
look and are crap!!
If they do build them,lets stick it in yuppy Bondi,and then the residents have
something really to complain about instead of a temporary grandstand on "their"
precious beach!

Quote:





> > > ***** From today's Sydney Morning Herald.... cash-strapped Sydney Olympics
> > > will need to make even more cuts in Olympics site operations.

> > > <snip>

> > The first thing to go was a million dollar 'artwork' - wrapping a 5 level
> > carpark in steel mesh.
> > See a pic:
> > http://www.smh.com.au/news/9904/12/graphics/990412_artwork.jpg
> > I'm sure it will be sorely missed (not).

> ****** I agree. Yuuuuuuuuuugh! That was ugly. Sometimes the strangest things
> pass for "art"...... now if they can find 100 or 200 more of these
> million-dollar Olympic "art" projects in Sydney to cancel they'll be back on
> budget! :)

> -----------== Posted via Deja News, The Discussion Network ==----------
> http://www.dejanews.com/       Search, Read, Discuss, or Start Your Own