Word: globalizers
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...hasn't always been true. The economic benefits of the Olympics for host cities are at best mixed, and the opening bravado often descends into recrimination and regret. Of course, there are obvious benefits for an Olympic host city - primarily the opportunity to showcase itself in front of a global TV audience numbering in the billions. Indeed, many view the Olympics as the ultimate infomercial to help attract business and foreign direct investment...
...What's more, the city found long-term uses for its Olympic venues, transferring the Olympic stadium and village to the Atlanta Braves and Georgia State University, respectively. "The Olympics gave Atlanta a tremendous boost in commerce," says Sam Williams, president of the Metro Atlanta Chamber. "We become a global city, not just the capital of the South." However, critics say Atlanta got too caught up in the idea of making the Olympics self-funding. As a result, it missed out on state and federal money that could have paid for upgrades to neighborhoods and sewage systems...
...streamline the newly expanded organization. In June 2008, Irish voters roundly rejected the treaty in the only national referendum to be held on it, sinking the hopes of E.U. backers across the continent. In the 15 months since that vote, however, Ireland's fortunes have changed dramatically in the global recession, and the government and many prominent business leaders are now urging residents to vote yes, saying this may be the only way to ensure the Celtic Tiger bounces back. (See 20 reasons to love the European Union...
...pictures of the global financial crisis...
...given the looming specter of climate change, they may have to find a way sooner rather than later. The prospect of another typhoon this week underscores environmentalists' concern that shifts in global temperatures may mean increasingly extreme weather patterns for coastal cities like Manila. "[Ketsana] was a startling, unique event," says Herminia Francisco of the EEPSA in Singapore. "But then I think this is going to happen more and more frequently in the future." (See a TIME graphic on destructive weather...