London Olympics 2012
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With the Jubilee followed by the Olympics it is good to be British this year. So does that must mean its good to be a retailer in the U.K. this year? Not exactly.
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For those who can afford the $1,600 fare, getting to the Olympics means a quick ride on a yacht up the Thames.
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The Olympics is creating a “ghost town” effect in central London as visitors who would normally flock to the capital’s shops, hotels and theatres stay away, casting doubt on expectations of a short-term economic boost from the games.
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Contrary to what the name might suggest, there's actually not that much gold in a gold medal. While the medal's design is different for every Olympics, it must adhere to guidelines set by the Olympic Charter.
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Six items that have consumers buzzing in the world of beer, wine and spirits as we head into this Olympics weekend, including the official Olympic wine, a special 1908 Pale Ale and a "performance-enhanced" beer from Brew Dog.
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Precious metal prices have fallen sharply from last year’s highs, but that certainly won't dampen Olympic athletes' spirits when they receive the prized medals in London.
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From negative thinking to burnout, entrepreneurs can take cues from Olympic athletes. What leadership skills can you learn from professional athletes?
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Michael Phelps is as close to a living Olympic legend as you can get. He's won 16 Olympic medals, including eight golds in the 2008 Beijing Games. But what about his brand and earning power if he loses at the 2012 Games?
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Mitt Romney causes a stir in Britain by questioning whether the country is prepared to host the Olympics without a hitch and scheduling a fundraiser with the former head of a troubled bank.
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Led by Microsoft founder Paul Allen, the super-rich have brought their supersized boats to serve as party platforms and traffic-beating transportation during the Olympics.
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A web site run by in-laws of Prince William faced allegations that it violated the Olympic copyright protection act for selling hundreds of Olympic themed items under a section of the site called “Celebrate the Games.”
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Five years of planning. 150 rehearsals this year alone. Fifty staffers dedicated to nothing but preparations for the Olympic Games. These measures aren’t cheap, but Heathrow Airport is hoping the long-term benefits of being the official host airport for the London 2012 Olympic and Paralympic Games outweigh the near-term costs.
THE GAMES
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Concerns have arisen about water supply and possible restrictions to water usage to the London region as the Olympics get underway this summer after the government declared the region was officially suffering from a drought.
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Olympic sponsorship must be a long-term commitment and the cost will almost certainly outweigh the benefits if it is not partnered with "œactivation" or marketing activities such as the launch of a new product, experts say.
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Stuart Corbyn chairman of Qatari Diar Delancy, told CNBC, "we have made this investment because we believe it is a worthwhile investment in the long-term, it is an exciting area and it will be even more exciting in the years gone by."
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Ten percent of the 40,000 construction workers employed for the 2012 Olympic Games were previously out of work, according to a report by the Olympic Development Authority (ODA).
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Anchors Steve Sedgwick and Geoff Cutmore display their rhythmic skills ahead of London 2012.
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With an extra three million journeys a day on London’s already crowded public transport system expected during the three weeks of the 2012 Olympics, London's commuters could have more to moan about.
THE COMPANIES:
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While the reaction to Nike’s third-quarter earnings were mixed, Sam Poser of Sterne Agee contends the Olympic summer games will send shares back up.
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Rupert Soames, CEO of Aggreko, told CNBC, "Europe did better than one might think, our revenues in continental Europe were up 12 percent, but as a group the underlying revenue growth was up 22 percent because we had a huge year in 2010 for major sporting events."
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A Deloitte survey shows that two-thirds of large companies expect no impact from the London Olympics. âBusinesses need to look and plan now,â Sally Atkins, program director for London 2012 at Deloitte told CNBC.
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âWeâve seen our turnover double in the last year,â Adam Cash, director of Touch of Ginger told CNBC as the small business joins others to benefit from the Olympic Games.
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âThis is a regeneration of a new metropolitan center for London and East Londonâ¦weâre really there because of the market fundamentals. We see East London as a huge opportunity,â Westfield Europe managing director Michael Gutman told CNBC.
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Links of London unveiled two new collections as part of its role as an official licensee of London 2012 Olympics. Xenia Carr-Griffiths, president EMEA of Links of London, spoke to CNBC about the collections.
THE COUNTRY
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Preparations for London’s 2012 Olympic Games remain on time and under budget, the UK’s Minister for Sport and the Olympics said in a quarterly report released on Tuesday, with more than 500 million pounds ($793 million) of contingency funds as yet untouched.
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Terrorists combining a cyber attack with physical violence are the biggest security threat facing the 2012 Olympics, a digital forensics expert told CNBC.
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The London 2012 Olympics can be used to showcase Britain and attract foreign visitors, Patricia Yates, director of strategy and communications at VisitBritain, told CNBC Friday.
NEED TO KNOW
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London is home to some of the world's most opulent hotels, but with five-star rooms in short supply during the Olympic Games this summer; wealthy visitors are increasingly turning to private homes to meet their accommodation needs.
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London is home to some of the world's most opulent hotels, but wealthy visitors are increasingly turning to private homes to meet their accommodation needs. Here are some of the best.
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Greg Marsh, co-founder and CEO at One Fine Stay, told CNBC, "we describe ourselve as being half way between a boutique hotel and a holiday letting agency, in a sense that we take peoples private homes while they are out of town and make them available as an alternative to a hotel for visitors into the city."
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Clean Event Property Services Group provides cleaning and waste management services to the sports and leisure industry around the world. The group has provided their services at 4 Olympic Games. Tom Gibbons from CE Property Services Group told CNBC the project is very big and detailed.
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Progress is well underway on the 2012 Olympic Stadium. "Weâ??re 70% completeâ?¦this time next year weâ??ll be handing over all these facilities to Seb Coe and his team so that they can start their trial events," John Armitt, chairman of the Olympic Delivery Authority, told CNBC.
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Golf and rugby sevens have been added to the Olympic schedule for the 2016 Games in Rio de Janeiro, the International Olympic Committee (IOC) said on Friday. Mike Laflin, chief executive of SportCal, discusses how the sports will fare if they are included.
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Saturday marks the start of the 1,000-day countdown period until the London 2012 Olympics. Jonathan Edwards CBE, Olympic Triple Jump gold medalist & LOCOG Board member, and Suzi Williams from BT look ahead to the games.
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Monday marked the 3-year mark for the London 2012 Olympic Games. "Things are very much on track," Paul Deighton, CEO of LOCOG, said. While the infrastructure has been paid for by the taxpayer, the cost of running the Games is funded privately through ticket and merchandise sales and raising sponsorships, he added.
Slideshows
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So what are some of the prohibited and restricted items in 2012 Olympic venues? Click ahead for some of the most interesting examples.
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Who has a stake in the games? Some big name sponsors for sure. Eleven of the 2012 Olympic Game sponsors belong to the TOP Program.
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Many countries finance their Olympic competitors, but not the United States, where athletes fund their own training.
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London is home to some of the world's most opulent hotels, but wealthy visitors are increasingly turning to private homes to meet their accommodation needs. Here are some of the best.
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Besides putting on a stunning spectacle starting in late July,London must contend with what the Olympic Games leave behind.
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