Eugene David<br>...The One-Minute Pundit

Posted 8:36 AM by Gene

While GARY of USAOKAY!!!!! earns a NEUHARTHISM OF THE WEEK AWARD for writing a puff piece quoting ad buyers (you know, the types who never met a show they didn't like), The Paper of Re-CORD runs a damning article about the albatross THE GAMES have draped around Vancouver's neck; this city deserved better. We don't know where to start. Oh, how about here:

While the mood in the city has picked up since the start, when many people were suffering a severe case of buyer’s remorse, the looming budget realities make it unlikely that all will be forgiven or forgotten.

“While it’s very hard to see all the costs, I think people are going to pay for it for a long time,” said Lee Fletcher as he walked past several flowering cherry trees near his apartment outside Stanley Park, a large tract of forest tucked up against the city’s downtown. “Some people are going to benefit hugely, not the average guy. The average guy is going to see his taxes increase.”

Who ever said THE GAMES are for the average guy? Or this:

The real estate development industry, which is unusually powerful in Vancouver, provided the city with an Olympic Village plan that seemed — and ultimately was — too good to be true. A development firm would finance and build the village on a desirable piece of city-owned land. After the Games, the developer would convert the accommodations into luxury condominiums and pay the city for the property. Vancouver would get its village and turn a profit as well.

But cost overruns, combined with the credit crisis in 2008, destroyed the financing. Once in office, Mr. Robertson had to obtain special permission from the province to borrow $434 million to complete the village. In all, the city is responsible for about $1 billion in development costs, a situation that lowered its credit rating.

And it ends with this:

Kennedy Stewart, a professor of public policy at Simon Fraser University in suburban Vancouver who has written extensively about the city’s politics, remains unconvinced that showing potential investors a good time during the Olympics will resolve Vancouver’s long-term economic issues. The forestry industry, once the mainstay of its economy, has been devastated by a beetle infestation, the collapse of the housing market in the United States and competition from South America. While motion picture production companies and software developers have set up shop here in recent years, they lack the same economic impact.

“What’s the substantive thing Vancouver has to offer other than its nice mountains and vastly overpriced real estate?” Professor Stewart asked. “The forestry industries have collapsed, so where is the money going to come from other than marijuana grow-ops?” [Link sic; emphasis added]

Well, Vancouver could always hire GARY for PR -- if he hasn't hired himself out somewhere else first.