Archive for the ‘sports’ Category

Brazil: World Cup stadium now a parking lot

Thursday, May 14th, 2015

The Estadio Nacional in Brasilia, the most expensive of the stadiums, is being used as a bus parking lot.

Business Insider: Brazil’s $3 billion World Cup stadiums are becoming white elephants a year later. Why? Several were built in cities that don’t even have top-rated teams. Add to that the distance to major urban areas, and the expense of holding events at those venues.

Some stadiums are still are paying for the construction, and then there are contracts:

The club team Atlético Mineiro plays its games at the old Independencia stadium in Belo Horizonte — it can’t make money playing at the new Estádio Mineirão because of its contract with the stadium’s owners, the AP reports.

Many – including myself – saw it coming, prior to the WC. In all, another one for Capt. Louis Renault.

We talked about this in Silvio Canto’s podcast last night:

In other news, Brazil is ranked 60th on education in a list of 76 countries (link in Portuguese) by the Organisation for Economic Co-operation and Development (OECD). Argentina (62d), Colombia (67th) and Peru (71th) did even worse.

Maradona: Before and after

Friday, March 6th, 2015

Before (c. 2013):
Multi-millionaire socialist, former soccer superstar Diego Maradona, enjoying a stogie while displaying tats of Che and the Kirchners (among others) on curiously hairless arms,

After (2015):

Is he aiming for a spot in the Men who look like old lesbians website?

Diego Maradona’s bizarre new face: the best memes

A few thoughts about Bruce Jenner

Friday, February 6th, 2015

A better blogger than I would reflect on what this means to society at large. For now, all I can come up with is a silent prayer for those, like Jenner, who are in such turmoil. Read my post here.

Puerto Rico: NY Yankees’ Jorge Posada scammed out of $11million

Tuesday, December 16th, 2014

New York Yankees catcher Jorge Posada is scammed out of $11 MILLION in ‘jaw-dropping’ money-management scam


Posada did not discover the conspiracy until after he fired Collar and Fernandez, who operated under their own company Quantum Family Office Group, for unrelated reasons in 2010.

Posada should have run all documents by his lawyer (not his wife), but I hope the perps do time.

And,
Never have only one financial advisor.



Why the game should stand tall

Wednesday, September 17th, 2014

My latest article, Why the game should stand tall, a review of the excellent When the Game Stands Tall, is up at Da Tech Guy Blog. Go read it, and hit Pete’s tip jar.

Brazil: #WorldCup inaugural today

Thursday, June 12th, 2014

The first game is today at 5PM local time, and so The Futebol Can Finally Begin
Concern About Brazil’s Preparation Gives Way to Worry About the Team as the Host Is Set to Face Croatia

If form holds, much of the anxiety about overspending will dissipate once the referee blows the opening whistle. It will give way to an entirely new anxiety—whether the home team will perform up to expectations.

For Brazil, that means only one thing: seven victories that culminate in a championship in Rio in July 13. Just three host nations have won the tournament over the past 40 years: West Germany in 1974, Argentina in 1978 and France in 1998.

ESPN and Univision have the TV schedule.

World Cup, Olympics test Brazil’s development dreams
The World Cup and 2016 Olympics in Rio were supposed to spur development, but that plan is hitting unanticipated roadblocks.

The São Paulo Subway Workers Decided Not to Strike despite threats to walk off the job unless 42 co-workers fired this week were reinstated.

São Paulo Metro workers’ union President Altino de Melo Prazeres Júnior said members were worried about a potential public backlash. “What weighed on our decision was fatigue and the fear of some workers that people could view our decision as a move to disturb the World Cup,” he said.

However, 20% of municipal airport workers in Rio de Janeiro are going on a 24-hour strike today, which one hopes won’t disrupt service.

Intense Versus Laid-Back: São Paulo vs. Rio
The World Cup Is the Latest Stage for Brazil’s Civic Rivalry

Let’s hope the events go on as planned without disruptions.

The WSJ has World Cup coverage.

Paul Mirengoff looks at what’s wrong with the World Cup.

Drudge had more headlines:

Pope warns against World Cup racism and greed…

World Cup poised for troubled kick-off…

Camp of 5,000 squatters springs up in Sao Paulo…


Brazil: World Cup disaster ahead

Thursday, June 5th, 2014

Eight days to the World Cup inaugural, and things don’t look good. Read my latest at Da Tech Guy Blog, Brazil: World Cup disaster ahead.

Related:
As Brazil Barrels Toward World Cup, Brazilians Aren’t Feeling It

Brazil: World Cup blues UPDATED

Wednesday, May 28th, 2014

Oh-oh:
Hope Fades in Brazil for a World Cup Boost
For many Brazilians, facing unfinished or canceled infrastructure projects, the World Cup has become a symbol of the unfulfilled promise of an economic boom in this South American nation.
Money quote:

For many Brazilians, the Cup has become a symbol of the unfulfilled promise of an economic boom for this South American nation. But the boom has fizzled. And now the World Cup’s $11.5 billion price tag—the most expensive ever—and a list of unfinished construction projects have become reminders of the shortcomings that many believe keep Brazil poor: overwhelming bureaucracy, corruption and shortsighted policy-making that prioritizes grand projects over needs like education and health care.

Video:

And in yesterday’s paper, World Cup: A Dozen Stadiums, a Million Problems
Brazil’s World Cup Build-Out Is Late and Over Budget; Workers Scramble to Finish Roofs, Seats and Sidewalks
. Don’t miss the slide show.

UPDATE:
Glum: Brazil’s economy grew by 1.8%, and its bonds were downgraded to BBB-, the lowest investment grade.

Brazil: 1 stadium, 3 x the cost

Wednesday, May 14th, 2014

The Mané Garrincha stadium is up in Brasilia, at a whopping US$900million, triple the estimated cost:
Soccer Stadium Raises Brazilian Ire
Cost of Building a Stadium in Brasília Has Tripled From its Original Budget, Drawing Allegations of Graft and Mismanagement

Costing 2 billion reais, or about $900 million, the Mané Garrincha National Stadium is the most expensive soccer stadium ever built in Brazil. Projected costs have tripled since construction began in 2010, and a federal auditor has concluded in a series of reports that nearly a quarter of the stadium’s costs are excessive or inflated.

“Price overruns are either a gross error or bad faith,” said Renato Rainha, an audit official who has directed two probes into the stadium.

Local officials dispute those allegations. Federal prosecutors have filed no charges or lawsuits. Authorities responsible for the contracts denied any wrongdoing and said they are cooperating with the auditors.

It seats 71,412, which comes to $12,603/seat.


Brazil: Welcome to Usama’s!

Wednesday, April 30th, 2014


faustaMy latest article at Da Tech Guy Blog, Brazil: Welcome to Usama’s!, is up. Please read it and leave a comment.