7am News, Sports and Obits

Latest WGIL news
Click to play or
Right click and "Save Target As" to download
Click for Galesburg, Illinois Forecast
Home - Cancellations - Community Events - Contact Us - Mornings - News - Obituaries - Pictures - Programs - Special Events Audio - Sports - Weather
State Approves Financial Guarantee for Chicago 2016 Olympic Bid
The Illinois Senate has given final approval to a measure to make Chicago more attractive to the International Olympic Committee. The bill allows $250 million in a financial guarantee if the Olympics -- if held in Chicago -- lose money.

State Sen. Kwame Raoul (D-Chicago) says if the games do lose money and the state has to pay, the same amount of money will go to Downstate roads. This measure also calls for diversity in Olympics preparation work.

With the Olympics promising a more than $22 billion benefit for the economy, State Rep. Will Burns (D-Chicago) says a quarter-billion dollar guarantee is worth the risk, especially since no summer games in the U.S. have ever lost money. Burns and Raoul are sponsors of the bill. It now awaits the governor's action.

(Illinois Radio Network)
03 26 09 by Newsroom
News management powered by Xpression News

Click here for the WGIL News Archive

Click here for national news

The following provision applies to all visitors (which shall include persons and representatives of legal entities, whether such representatives are persons or digital engines of a kind that crawls, indexes, scrapes, copies, stores or transmits digital content). By accessing this Web site or digital service, you specifically acknowledge and agree that: (i) Associated Press text, photo, graphic, audio and/or video material shall not be published, broadcast, rewritten for broadcast or publication or redistributed directly or indirectly in any medium; (ii) No Associated Press materials nor any portion thereof may be stored in a computer except for personal and non-commercial use; (iii) The Associated Press will not be held liable for any delays, inaccuracies, errors or omissions therefrom or in the transmission or delivery of all or any part thereof or for any damages arising from any of the foregoing; (iv) The Associated Press is an intended third party beneficiary of these terms and conditions and it may exercise all rights and remedies available to it; and (v) The Associated Press reserves the right to audit possible unauthorized commercial use of AP materials or any portion thereof at any time.