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SBD Global/July 25, 2012/Olympics
Increased Broadcast Rights Revenue Allow IOC To Build Up $558M Reserve
Published July 25, 2012
READY OR NOT, HERE THEY COME! The AP’s Stephen Wilson noted the Royal Opera House last night held a “star-studded Olympic gala,” and London Mayor Boris Johnson “brought the house down with his bombastic recital -- in ancient Greek -- of a Pindaric Ode for the London Games.” Rogge said, "I am confident the games will capture the spirit of this great cosmopolitan city." LOCOG Chair Sebastian Coe said, "The city is ready. The venues are ready. Soon the athletes will be ready" (AP, 7/24).
STAYING TOGETHER: Rogge and International Paralympic Committee President Philip Craven signed an agreement that ensures the Paralympic Games will be held in the same city as the Olympic Games through '20. The two presidents extended the current agreement that was signed in June '06, and was good through the '16 Games. The new agreement will be good through the '18 PyeongChang Winter Games and the '20 Summer Games to be held in either Istanbul, Madrid or Tokyo (Paralympic Games).
CHEAP LABOR: In London, Simon Neville reported that Olympics merchandise is being produced "in sweatshop conditions" with staff earning as little as £6 ($9) a day, despite organizers "promising to clean up its supply chain." One of the factories investigated was the Xinda facility in the Guangdong district in southern China, "where 25 million plastic figures of Olympics mascots Wenlock and Mandeville were made for LOCOG." The report has been issued by Hong Kong workers' rights group Students and Scholars Against Corporate Misbehaviour (GUARDIAN, 7/23).