Lost!

Despite continuous assurances from those "in charge" of the London Olympics, and their political masters, that everything is under control (despite a rise in the budget from under £3BN to £12BN) it seems that £100M of taxpayers' money has been "lost".

A £100M black hole has appeared, as if by magic, in the 2012 Olympics accounts of the London Development Agency (LDA) - the budget for which is not included in the £12BN Olympics budget.

A routine audit of the accounts has uncovered large accounting irregularities, and a team of external accountants from KPMG has been called in to investigate the "lost" money.

Gareth Blacker, who oversaw the purchase of the huge Olympic site on the Lea Valley, and his accountant have been suspended. No evidence of wrongdoing is attached to either Mr Blacker or his accountant.

A source told The Times:

"This has gone beyond a routine audit, into the realms of a fraud investigation".

This gives me little faith in how our £12BN Olympics' budget is being "managed".

Olympic Medals won during the Beijing 2008 Olympics

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London's Burning

Despite costing £1.4BN the new fire emergency response control system, designed to deal with major incidents such as a terrorist attack at the 2012 Olympics, will not be operational until after the Games.

It needs to be up and running at least a year before the Games, in order to allow problems to be ironed out. However, it is likely to be delayed until after 2012.

Money well spent!

Olympic Medals won during the Beijing 2008 Olympics

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Bankruptcy Looms

The British Olympic Association (BOA) made a £1.5M loss last year (the previous year it made a loss of £1.3M), which required it to beg for £2M of funding from the Organising Committee for London 2012.

In the event that the BOA cannot staunch these ongoing losses, it will be bankrupt before the games in 2012.

Olympic Medals won during the Beijing 2008 Olympics

Don't forget to visit www.theolympicswarehouse.com
www.olympicsdiary.com brought to you by www.kenfrost.com "The Living Brand"

Mass Grave Found on Olympics Site

Reuters report:

"An ancient burial pit containing 45 severed skulls, that could be a mass war grave dating back to Roman times, has been found under a road being built for the 2012 British Olympics."

Olympic Medals won during the Beijing 2008 Olympics

Don't forget to visit www.theolympicswarehouse.com
www.olympicsdiary.com brought to you by www.kenfrost.com "The Living Brand"

Held To Ransom

What's the betting Bob Crow tries it on again during the Olympics?

Olympic Medals won during the Beijing 2008 Olympics

Don't forget to visit www.theolympicswarehouse.com
www.olympicsdiary.com brought to you by www.kenfrost.com "The Living Brand"

Regeneration?

Figures provided by the Olympic Delivery Authority (ODA) show that of the 4,101 workers employed in constructing the Olympic Park, approximately 20% are from the five local boroughs.

Within the 20%, only 115 were formerly unemployed in Greenwich, Hackney, Newham, Tower Hamlets or Waltham Forest.

The cost of the Olympic Park is currently estimated to be £1.1BN.

Not much of a legacy for the local community!

Olympic Medals won during the Beijing 2008 Olympics

Don't forget to visit www.theolympicswarehouse.com
www.olympicsdiary.com brought to you by www.kenfrost.com "The Living Brand"

Olympic Bugs

It seems that we may be taking one step further to becoming a police state. Emulating the Chinese, the police are studying Chinese surveillance tactics as they ready themselves for the 2012 London Olympics.

One tactic being considered is the installation of miniature microphones in thousands of taxis. These bugs will transmit passengers' conversations to a police control room. The police, if they consider the conversation to be "suspect", would then activate a disabling device to stop the cabs.

Another tactic used by the Chinese was to embed tracking microchips in the tickets and passes of Olympics spectators.

Olympic Medals won during the Beijing 2008 Olympics

Don't forget to visit www.theolympicswarehouse.com
www.olympicsdiary.com brought to you by www.kenfrost.com "The Living Brand"

Appalling Waste

Lord Lucas, during question time on Tuesday, said:

"Is it not a strange definition of cost-effective and a most appalling waste to spend £40m on a shooting venue at Woolwich, which will be destroyed immediately after the Olympics, rather than £10m less for a facility at Bisley that will be used for generations?"

I agree.

However, what is £40M in an ever expanding budget that currently stands at £12BN (including £2BN running costs)?

Olympic Medals won during the Beijing 2008 Olympics

Don't forget to visit www.theolympicswarehouse.com
www.olympicsdiary.com brought to you by www.kenfrost.com "The Living Brand"