The Vancouver Organizing Committee for the 2010 Summer Olympic Games released its report for the third quarter of the fiscal year Tuesday, which includes a positive cash position of $127 million. According to a press release it was largely due to the timing of payments received and expenditures made while operating in the most challenging economic conditions in recent history. The report includes a management discussion and analysis, and interim financing statements for the period ending April 30, 2009.
U.S. President Barack Obama announced Tuesday he will form a permanent White House Olympic Office. The office is to coordinate federal support of the Olympic movement. It came the evening before Chicago 2016 made its presentation to the International Olympic Committee and is reportedly a sign of federal commitment expected to help Chicago in its bid. Obama said in a statement that the office will also be charged with encouraging youth participation in sports.
A three-member protest group opposing Chicago’s bid for the 2016 Summer Olympic Games took its case to the International Olympic Committee’s (IOC) headquarters in Lausanne, Switzerland. The activists are from No Games Chicago. They asked to meet with IOC president Jacques Rogge and an opportunity to address more than 90 IOC members at a key meeting Wednesday where Chicago was to make a presentation on its bid. IOC communications director Mark Adams met with group spokesman Tom Tresser and said Rogge would be told of the protesters’ proposal, but Adams rejected their demand to sit in on the 90-minute session. Instead they set up a stand outside the Olympic Museum where the presentations were held and distributed documents opposing Chicago’s bid.
