Cities that lose their bid to host the Olympics receive a benefit from their loss, according to a new study. (ATR) Bidding for the Olympic Games produces has much economic benefit for losing countries as the successful ones, according to a recently-released study.
A statistical model produced by Andrew Rose of the Haas School of Business at the University of California Berkeley and Mark Spiegel of the San Francisco Federal Reserve demonstrates that all bidders have a 30 percent increase in exports.
Making a bid for the Olympics displays an openness to do business, thus increasing economic opportunity for the bidding countries, according to Rose and Spiegel.
However, the benefits of actually hosting the Games are uncertain, using London’s difficulties in preparing for the 2012 Summer Olympics as an example.
“Our model predicts that bidders for the Olympics regret actually hosting the Games,” Rose said. “That’s one implication that seems consistent with the British data so far.”
China Names First Black Athlete to Volleyball Team
Ding Hui, a 19-year-old from Hangzhao, has been selected as the first black athlete to compete for China at the elite level.
Born to a South African father and a Chinese mother, the teenager will join China's 18-man training team. He first grabbed the spotlight at the World Youth Championships in Mexico in 2007. The talented player started playing volleyball when he was 10.
It remains to be seen whether the Chinese public will embrace him. The Oscar de la Hoya announced his retirement from professional boxing on Tuesday. (Getty Images) country's black population is tiny but growing.
Until then, Ding could be the continued focus of comments like those posted to local Web sites discussing the "whiteness" of his teeth and the "athleticism of his genes."
“Golden Boy", ‘92 Gold Medalist Retires
Oscar de la Hoya, the 1992 gold medalist in boxing has thrown in the towel on his boxing career.
De la Hoya, 36, won the gold in the lightweight division, two years after promising his mother he would win the gold. He made the promise to his mother on her death bed from cancer. His panache in the ring earned him the nickname of “the Golden Boy.”
Last summer he was inducted into the U.S. Olympic Hall of Fame.
His professional career began a few months after the Barcelona Games, going 39-6, with 30 knockouts. He won 10 world championships in total during his career in multiple weight categories.
"It's not fair to step inside the ring and not give my best" he said at his retirement press conference on Wednesday. "When your body doesn't respond… it's a tough decision, very, very difficult."
Obama Backs Another U.S. Bid
In a letter to FIFA chief Sepp Blatter, U.S. President Barack Obama outlined his support for the U.S. bid to host the World Cup in either 2018 or 2022.
"Soccer is truly the world's sport, and the World Cup promotes camaraderie and friendly competition across the globe," the letter said according to The Guardian. "That is why this bid is about much Barack Obama announced his support of the U.S. bid for the 2018 or 2022 World Cup. (Getty Images) more than a game. It is about the United States of America inviting the world to gather all across our great country in celebration of our common hopes and dreams."
The U.S. hosted the 1994 World Cup and is up against several other countries hoping to host the event.
…Briefs
… French cricket officials have challenged England to a rematch of the only Olympic final in cricket. At the 1900 Games, England defeated France by 158 runs in a two-day match. According to English media, a spokesman for France Cricket said they want the match played before the start of the London Olympics.
…Olympic heavyweight silver medalist Clemente Russo turned down an offer from legendary boxing promoter Don King to turn pro. "Now in Italy I am a public figure and I'm already well paid for TV appearances," Russo told Gazzetta dello Sport on Wednesday. He did say he would reconsider the offer after this year’s world championships in Milan.
…USA Basketball has chosen University of Connecticut Coach Geno Auriemma to lead the U.S. women's basketball team through London 2012. UConn recently won its sixth NCAA title under Auriemma, going 39-0 this season. The U.S. women's team has captured gold at each of the last four Olympics.
…A judgesays the Greek government was defrauded in purchasing security equipment for the Athens Olympics. According to the Greek newspaper Kathimerini, the investigating judge said he wants prosecutors to go after “anyone responsible” in the case involving electronics giant Siemens.
…A Los Angeles judge extended a restraining order that was issued against Robert O’Ryan by three years. O'Ryan was charged with stalking Beijing Olympic gold medal gymnast Shawn Johnson. The 34-year old O’Ryan was arrested last month after being caught climbing a fence at CBS Studios in L.A., where the 17-year-old was taping an episode of the T.V. show “Dancing with the Stars.”
…Three-time Beijing Olympic gold medalist Chris Hoy of Great Britain proposed to lawyer Sarra Kemp on Saturday. The couple plan to get married sometime next year.
Written by Ed Hula III and Greg Oshust.
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