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The economics of the Olympics
  + stars: | 2024-07-26 | by ( Alicia Wallace | Alex | Leeds Matthews | ) edition.cnn.com   time to read: +12 min
“This will be the first Olympics, since Sydney, where the total costs are coming in under $10 billion,” said Victor Matheson, a College of the Holy Cross professor of economics who has researched the financial costs of the Olympics. Workmen adjust banners on the 3x3 basketball venue located at La Concorde, in Paris, ahead of the 2024 Olympic Games. Additionally, the Paris Olympic Village will be converted into offices and housing in a historically impoverished neighborhood. Still, economists say, it may take more drastic moves in the future for the Olympics to be truly sustainable and economically sound. “I love the Olympics, and I love sporting events, but I just really do not think that the way the Olympics works now is a viable business model,” Phalin said.
Persons: , Victor Matheson, , “ It’s, David Gray, Andrew Zimbalist, ” Zimbalist, Michael Kappeler, it’ll, Fabrice Coffrini, Zimbalist, , Amanda Phalin, Christian Petersen, I’m, ” Phalin, you’ve, it’s, Andrew Medichini, shuttlecocks, Matheson, Phalin Organizations: CNN, Olympic, Paralympic Games, Paris Games, of, IOC, La Concorde, Getty, Mexico City Games, Montreal Games, Smith College, Olympics, Oxford University, Audit Board, Tokyo, Eiffel, Paris, University of Florida’s Warrington College of Business, Games, of Investment, Development Authority, French, ” Workers, Palais, AP Paris Locations: Paris, Sydney, La, AFP, Mexico, Munich, ” Los Angeles, Tehran, Beijing, Sochi, France, , Lake Placid , New York, Lake Placid, , Los Angeles, Oklahoma
Ryan Kendall’s crew of firefighters arrived too late to save the house on Dear Abby Road. All that was left on Friday, amid the thick forests that surrounded it, was a jumble of smoking household appliances licked by hissing flames. The plastic from the home’s giant water storage tanks was fully ignited and dripping fire onto the forest floor. Dear Abby Road is in a neighborhood, Forest Ranch, that is hauntingly similar to the community that was decimated six years ago in the town of Paradise. As the crow flies, Forest Ranch is just 10 miles and a few gullies away, built into the evergreen forest on steep hillsides.
Persons: Ryan Kendall’s, Abby, , Kendall Locations: Los Angeles, California, Forest, Paradise
Read previewWhen it comes to all-inclusive vacations, I've seen it all — from mega resorts the size of small cities to sex-themed hotels where clothing is optional. Simone PagetAs someone who prefers quirky boutique hotels, the decor at all-inclusive resorts can often feel bland. Simone PagetThe resort offers things I've never seen anywhere else, like rooftop pickleball courts that glow in the dark at night. AdvertisementPlus, whether you're at the pickleball court or the pool, you're never far from your next margarita — it's always 5 o'clock somewhere. It's one of the best all-inclusive resort experiences I've had in years.
Persons: , I've, I'm, Jimmy Buffett, Simone Paget, Margaritaville, Simone Paget Margaritaville, Lola's, that's, Simone Paget I, Joe Merchant's, margarita — it's, margarita Organizations: Service, Business Locations: Cancún, Mexico, Margaritaville, margaritas,
In the May primary, she defeated Rep. David Trone, who self-funded his campaign to the tune of over $60 million. If elected, she would become Maryland's first Black senator and only the second woman to represent the state in the upper chamber. The morning starts early, but I'm still the county executive, which means that the days are always really busy. I think this Senate campaign is the first time I've experienced anything where there are no days off. She took our sandwich orders, and I started explaining to her: "I'm here and I'm campaigning.
Persons: Angela Alsobrooks, David Trone, Larry Hogan, Maryland's, I've, I'm, Alsobrooks, Millard, Sarah L, Voisin, we'd, Anita, Andrew Harnik, didn't waver Organizations: Service, Prince, Democratic, Republican Gov, Prince George's County, Hyattsville Middle, Washington, Getty, The Washington Post, US Locations: Prince George's County , Maryland, That's, Prince George's, Hyattsville, Md, Shore, Burtonsville
Read previewI've traveled around the world, but even after a dozen visits, Paris remains my favorite city. The Eiffel Tower is iconic, but the view from the Montparnasse Tower is equally stunningThe Montparnasse Tower offers panoramic views of Paris. AdvertisementBut if I were looking for Instagrammable views of Paris' most famous landmark, I'd head to the Montparnasse neighborhood. The rooftop terrace atop Paris' only skyscraper, Montparnasse Tower, has 360-degree city views and tons of space to spread out. It's scheduled to open later this year, and it's a must-see if you're visiting Paris for the first time.
Persons: , I've, shomos uddin, Mona Lisa, Musée, Venus de Milo, Napoleon, Monet, Manet, Renoir, Les Catacombes, Miguel Sánchez Villafán, Jim Morrison's, I'd, Les, you've, Le, Le Mary Celeste, It's, Breizh Café, Kelly Magyarics Organizations: Service, Business, Eiffel, Gare d'Orsay, Cambridge Public House, Paris, Notre, Dame, Dame Cathedral, pes, Bretagne Locations: Paris, Montparnasse, d'Orsay, Musée d'Orsay, Gare, Père Lachaise, Le Marais, La, Montmartre, Brittany, France
Tokyo CNN —Kudos to you if you can speak perfect Japanese and order food at a neighborhood sushi bar in Tokyo. But overtourism – fueled by a combination of pent-up post-Covid demands (aka “revenge travel”) and the weak local currency – has recently prompted restaurants in the country to consider the merits of differential pricing. This year, spurred by a weak yen that has fallen to its lowest level against the dollar in decades, the tourists are back - in big numbers. “Some people say, ‘We don’t do this in our country.’ But think about how bad Japanese people’s English skills are. As the less-expensive resident prices are often written in the local language, foreign tourists may not even know they paid more.
Persons: , , Shogo Yonemitsu, ” Yonemitsu, Elisa Chan, Tamatebako, Rinka Tonsho, CNN Yonemitsu, isn’t, That’s, CNN Shuji Miyake, Phoebe Lee Organizations: Tokyo CNN, Mount Fuji, UNESCO, Chinese University of Hong, CNN Locations: Tokyo, Japan, Shibuya, Mount, Hokkaido, Himeji, In Venice, Tokyo’s Tsukiji
After just under three months of living in Utah, she's already planning to move back. She settled on Salt Lake City, which in recent years has become a business and tech hub. She's already gearing up to move back to San Diego once her kid is older and she's more financially stable. She said the food was "infinitely better" in San Diego with much more variety, and San Diego had many more cultural and entertainment opportunities. She hopes to raise her salary to about $200,000, which she feels would be enough to live more comfortably in San Diego.
Persons: Kate M, she's, Kate, Utah Kate, San, I've, wouldn't, didn't, It's, She's, California Kate, Organizations: Service, Business, San Diego, LA Locations: San Diego, Utah, California, San, Salt Lake City, Arizona, Los Angeles, Diego, South Utah, She's
Paris CNN —The 2024 Summer Olympic Games formally get underway on Friday with an incredibly unique Opening Ceremony aimed at putting one of the world’s most famous cities on display. PARIS, FRANCE - JULY 24: A view of Trocadero Square, the venue for the Paris Olympics opening ceremony, with the Eiffel Tower in the background, on July 24, 2024 in Paris, France. The 2024 Summer Games were organized with a mind to put the entire French nation on display, including its more tropical territories. A Games focused on sustainabilityPARIS, FRANCE - MARCH 14: The Paris 2024 logo, representing the Olympic and Paralympic Games four months prior to the start of the Paris 2024 Olympic and Paralympic games is displayed on the facade of Paris town hall on March 14, 2024 in Paris, France. The Opening Ceremony of the Paris 2024 Olympic Games takes place on Friday 26th July, along the River Seine.
Persons: Paris won’t, Pont Alexandre III, Sheng Jiapeng, they’re, It’s, Pascal Le Segretain, , Georgina Grenon, Paris ’, Laurent Michaud, Martin Rickett, , Alexandre III Organizations: Paris CNN, Games, Eiffel, Concorde, Paris, China News Service, Getty, Covid, Paris Olympics, Chateauroux, Olympic, Paralympic Games, Paralympic, CNN Locations: Paris, France, of, Versailles, PARIS, FRANCE, Tokyo, China, Nice, Marseille, Bordeaux, Nantes, Lyon, Tahiti, Seine
After visiting 48 of the 50 US states, Chicago is my favorite place to be in the summer. Here's why I love Chicago summers. Latifah Al-HazzaThe city prides itself on being home to over 20 Michelin-starred restaurants and having a diverse food culture. The city's public Divvy bikes are easy to rent and a great way to see the city in the summer. The event offers incredible city views and access to the indoor aquarium, providing a cool respite from the heat.
Persons: , Latifah Al, Chiya Chai, Café Tola, Lou Malnati's, Diego, Jackson, Ping, Fulton Organizations: Service, Windy City, Business, Chicago Architecture, Chicago Riverwalk, Michelin, Café Tola, Indienne, Chicago café, Hazza, Art Institute of Chicago, Field Museum, Museum of Science, Industry, Chicago World's Fair, Art, Logan Square Arts, Pitchfork, Chicago Blues Festival, Lakeview Taco Fest, NASCAR, Chicago Air, Water, Chicago Locations: Chicago, Café, Lake Michigan, Beach, Ping Tom, Windy City Smokeout, Lakeview, Sueños
When the white Gen X child turned 27 in 2005, they could expect to make more than $34,000. But Mr. Cain did have a strong community — which he said taught him entrepreneurship and showed him he could dream big. Mr. Cain, 35, got a two-year degree in business management and first worked as a bank teller and financial adviser. At the same time, white millennials born to poor parents had a harder time than their white Gen X counterparts. Unlike Mr. Cain, Mr. Brown did not have a strong sense of community, as he bounced between his mother, his father and his grandparents.
Persons: Lawrence Cain Jr, Cain, , Asa Featherstone, Black, Derek Brown, Brown, He’s, , It’s, ” Mr, Raj Chetty, Stefanie A, DeLuca, David B, Ralph Richard Banks, wasn’t, Benjamin Goldman, Cain’s Organizations: Abundance University, Business, Harvard, The New York Times, General Electric, Richer, Johns Hopkins University, Stanford, People, Black, White, Conservatives, Local, Bank of America Locations: Cincinnati, Northside, America, United States, American, China, India, Charlotte, N.C
More specifically, they're taking aim at a widespread rule that requires almost every new apartment building in the US to include at least two separate stairwells. This part of local codes, they say, is an outdated safety measure that really just makes apartment units smaller, more expensive, and darker (yes, darker). City planners there sometimes call these single-stair buildings "Seattle Specials" — they simply wouldn't be possible in pretty much any other city. Almost all of Europe, as well as Asia, Mexico and South America, allows single-stair buildings of six stories or higher. Germany allows single-stair buildings to stretch to about 20 stories, while Switzerland has no such limit.
Persons: Chris Gannon, Gannon, Stephen Smith, Michael Eliason, Eliason, James F, Brian Court, We're, Sean Jursnick, Jursnick Organizations: City Council, Center for, Housel, Miller Hull Partnership, Eliason, City, Fire Protection Association Locations: Texas, Austin, Seattle, New York City, America, California, Minnesota, Washington and Oregon, North America, It's, Union, Seattle's, Hill, Denver, Europe, Asia, Mexico, South America, Germany, Switzerland, Honolulu, California , Oregon, Washington
The chaos kicked off in the final moments of a lengthy added time, when Argentina’s Cristian Medina headed home in the 106th minute to apparently tie the game at 2-2 - sending Argentina players and fans into raptures. Match broadcasts showed some celebrating Argentina players ducking to avoid objects being thrown by fans toward the pitch, while some Morocco supporters entered the field. “It’s the biggest circus I’ve ever seen in my life,” Argentina coach Javier Mascherano said after the game, according to Reuters. It’s not a neighborhood tournament, it’s the Olympics.”CNN has reached out to the IOC and soccer’s world governing body FIFA for comment. Men’s soccer at the Olympics is played by under-23 teams, with three overage players allowed in each squad.
Persons: Javier Mascherano, ” Soufiane Rahimi, Etienne’s Stade Geoffroy, Guichard, Argentina’s Giuliano Simeone, Argentina’s Cristian Medina, ducking, , ” Mascherano, It’s, , Lionel Messi, aren’t, Julian Alvarez, Nicolas Otamendi Organizations: CNN, Morocco, Paris Summer, Saint, Argentina, raptures, , Reuters, ” CNN, IOC, FIFA, Manchester City, Games Locations: Argentina, Morocco, ” Argentina, Liverpool, Barcelona, Paris
CNN witnessed exhausted and angry Palestinians fleeing Khan Younis, once Gaza’s second-biggest city. People displaced in Khan Younis expressed anger at Israel, Hamas and other Arab leaders for the war. They are fighting civilians, women, and children.’Smoke billows over Khan Younis, following Israeli bombing in the neighborhood earlier this week. The IDF post warned civilians in Khan Younis that it “will act forcefully against terrorist organizations. The Civil Defense also alleged that its rescuers in Khan Younis had been targeted while trying to recover civilians.
Persons: Khan Younis, Israel's, Abdel Kareem Hana, Mohammad Saqer, Saqer, , Israel, Younis, Mohammad Abdul Jawad, Al Zanneh, Al Qarara, Bani Sehaila, ” Jawad, Nasser, Hatem Khaled, Hazem, , , Yahya Sinwar, Ismail, Haniyeh, Riham Al Agha, ” Al Agha, , Abu Sleiman Organizations: CNN, Israel Defense Forces, Hamas, Nasser Medical, IDF, Ministry of Health, Reuters, Fatah, UN Relief and Works Agency, Gazan Civil Defense Directorate, Civil Defense Locations: Israel, Gazan, Khan, Shujayah, Gaza, Rafah, Abasan, Al
Two Los Angeles-area beaches were shut down for 48 hours after thousands of gallons of sewage spilled into a creek — but that did not seem to bother the crowd of dog walkers, runners, yogis and surfers enjoying the beach early on Tuesday before the day’s heat set in. An estimated 15,000 gallons of sewage — about the volume a backyard swimming pool holds — were discharged on Saturday afternoon in a neighborhood roughly seven miles east of the Santa Monica Pier, entering Ballona Creek, the Los Angeles County Department of Public Health said in a news release. “The cause of the sewage discharge was a broken water main that pushed sand into the sewer, causing the blockage,” the agency said.
Organizations: Santa, Santa Monica Pier, Los Angeles County Department of Public Health Locations: Angeles, Santa Monica, Ballona
Research shows that young adults are the unhappiest age groupBlanchflower's most recent working paper, co-authored with Alex Bryson and Xiaowei Xu, shows a change in the pattern, with happiness starting off low in young adulthood and increasing with age. Alongside other researchers, Blanchflower analyzed data from the Centers for Disease Control and Prevention's Behavioral Risk Factor Surveillance System. But Wimsatt Childs agrees with Blanchflower that social media likely plays a role in this new pattern of unhappiness. "What social media has done in a lot of ways is it has amplified concerns that were already well underway," she says. Social media — apps like Snapchat, Instagram and TikTok — floods people with information and can lead to comparison among peers on a larger scale, she adds.
Persons: David Blanchflower, Blanchflower, Alex Bryson, Xiaowei Xu, Amber Wimsatt Childs, Wimsatt Childs, I'm Organizations: Dartmouth College, Research, Scientific, Centers for Disease Control, Yale School of Medicine Locations: U.S
Chef Ben Lippett, known as @dinnerbyben to his hundreds of thousands of followers on social media, built his audience with approachable guides to "really good home cooking." Unsurprisingly though, Lippett's inspiration comes from beyond the confines of his home, with much of it sitting just outside his door in Peckham. The southeast London neighborhood, just a 15-minute train ride away from central London, has a burgeoning food scene growing alongside its "up-and-coming" status. In the latest episode of CNBC's new travel series Downtime, Lippett reveals some of his favorite places to unwind, including:Peckham Bowls, a bowling green in Peckham Rye Park where you can grab a beer and play a game of lawn bowls – without the usual stuffinessF.C. Soper, a family-run fishmonger with seafood straight from the iconic Billingsgate Fish MarketGrove Lane Deli, a quaint bakery with coffees and cakes worth the long queue on the weekendForza Wine, a casual bar with small plates, cocktails, natural wines and a killer city view from the terraceWatch the video above for an insider's look at how to enjoy your downtime in Peckham.
Persons: Ben Lippett, Soper Organizations: Peckham, F.C, Wine Locations: Peckham ., London, unwind, Peckham Rye Park, Peckham
Read previewRussia and China are trying to compete with the US for influence in Latin America, according to the US Southern Command commander. Kevin Riehle, a former FBI counterintelligence officer, told BI last December that Russia was using South America to obtain fake identities for its spies. AdvertisementDaniel P. Erikson, deputy assistant secretary of defense for the Western Hemisphere, also warned of Chinese and Russian threats in Latin America at an Atlantic Council event in February. Latin America, in the post-Cold War era, has not seen major wars, the prospect of nuclear weapons, or US rivals seeking to establish military bases and alliances directly, he said. "Nonetheless, the economic needs of Latin America and weak governance in many cases have opened the door for predatory, non-transparent deals, particularly with the PRC, which has expanded its influence," he said, using the initials of the People's Republic of China.
Persons: , Laura J, Richardson, Vyacheslav Volodin, Craig Faller, Kevin Riehle, Daniel P, Erikson, Evan Ellis, Ellis Organizations: Service, US Southern Command, Aspen Security, Initiative, Business, Russian, Institute for, West . Belarus —, US Special Operations Command, FBI, Strategic, International Studies, Atlantic Council, US Army, Strategic Studies Institute, Southern Command Locations: Russia, China, Latin America, Colorado, America, Nicaragua, Cuba, Venezuela, West . Belarus, Belarus, South America, Washington, DC, Caribbean, East, Ukraine, People's Republic of China, Iran, United States
CNN —On July 7, emergency dispatchers in North Carolina received a call from a passerby that a child was walking by himself on a Union County road. When deputies responded, they were unable to locate the child’s home or parents due to the boy being both autistic and non-verbal, according to a release from the Union County Sheriff’s Office. “Normally, they track from where a person left to try to find where that person is currently. Now that deputies have seen Remi and other dogs can do this, the technique will be implemented in future K-9 training. Bloodhounds are known for their keen sense of smell, including the ability to distinguish the scent of one human from another.
Persons: Remi, James Maye, ” Maye, Belk, , “ I’ve, I’ve, Maye, Union County Sheriff Eddie Cathey “, we’re Organizations: CNN, Union County Sheriff’s, Belk, Union County Sheriff Locations: North Carolina, Union County
Some of the most important factors to consider when buying a house are price, size, and location. Location and neighborhoodLocation is something you're stuck with until you move, so be sure you're choosing a city, school district, and neighborhood that suits your needs. If homes are flying off the shelves, you'll need to be prepared to make fast offers that get noticed right off the bat. If the appraisal comes in lower than what you offer, you'll have to make up the difference or renegotiate with the seller. Evaluating a house's resale potential is critical, as you want to be sure you're making a smart investment of your money.
Persons: Glen Pizzolorusso, Hope, that's, they're, it's, you've, they'll, you'll Organizations: Glen Christopher Luxury, Facebook, Energy Locations: Connecticut, Chevron
Determining your budgetYou can figure out how much house you can afford to buy using our free mortgage calculator. While you may already have an idea of what you think you can afford, you'll need to find out how the bank sees you. It will include a list of all of your finalized closing costs and how much cash you'll need to close. The final walkthroughBefore closing, you'll also get a chance to view the home one more time. How to buy a house FAQsHow much down payment do I need to buy a house?
Persons: You'll, George Chedid, Dana Bull, They're, Bull, you've, Don't, it's, They'll, you'll, they've, Chedid Organizations: Compass, Federal Housing Administration, US Department of Veterans Affairs, US Department of Agriculture, you'll, Homeowners Insurance Allstate, Insurance Locations: Kendall Park , New Jersey, Chevron, Boston
Market trends and data analysisTo get a better idea of whether you should sell now, get familiar with your local housing market. The best time to sell a house depends on your local market, but generally speaking, you'll find the following are true. This would provide steady monthly income and allow you to wait to sell until market conditions improve. You should consider local market conditions, your financial and personal needs, and larger economic conditions before you sell your house. To determine the best time to sell your house, look at local market trends, economic forecasts, and seasonal patterns.
Persons: they're, you'll, it's, we'll Organizations: Data, National Association of Realtors, Chevron Locations: Chevron
A New York couple who bought their 16-year-old son a BMW were sentenced on Monday to three years of probation and 26 weeks of parenting classes after the teenager drove the car at speeds of more than 100 miles an hour, slammed into a truck and killed his passenger, a 14-year-old girl. The teenager, whose name has not been released because of his age, was arraigned last December on at least a dozen charges, including second-degree manslaughter and reckless endangerment of a child. He faces up to 15 years in prison if convicted. He had a junior driver’s license, which prohibited him from driving unsupervised under any circumstances in New York City, when in May 2023 he crashed his red 2005 BMW 325i into the back of a parked UPS truck in the Springfield Gardens neighborhood of Queens, prosecutors said. The teenage driver survived the crash with minor injuries, but his passenger, Fortune Williams, a freshman at a Springfield Gardens high school, was thrown from the car and pronounced dead at the scene, prosecutors said.
Persons: BMW, Fortune Williams Organizations: York, Springfield Gardens Locations: New York City, Springfield, Queens
But people making the same exact purchases as you aren’t necessarily paying the same exact prices as you. Companies have used this kind of information to effectively offer different prices to different groups of consumers. Using AI, companies can now answer questions like, “What is this person going to buy next? Rather, its bread and butter is providing companies with “all of the analytics and predictive scenarios” to figure out prices themselves. Then, by predicting how much consumers will buy at different price points, Revionics helps retailers manage their inventories.
Persons: New York CNN —, Shikha Jain, Simon, Kucher, , , Jim Presley, What’s, Presley, Jain, Matt Pavich, David Paul Morris, Mary Winn Pilkington, Revionics wasn’t, it’s “ Organizations: New, New York CNN, Starbucks, North, Starbucks . Companies, Companies, Tractor Supply Co, Revionics, Bloomberg, Getty, Tractor Supply, CNN Locations: New York, North American
Venezuelan opposition presidential candidate Edmundo Gonzalez and opposition leader Maria Corina Machado wave to supporters at the Central University of Venezuela UCV in Caracas on July 14, 2024. Analysts see those as the seeds of a pretext that Maduro could use to postpone or cancel the election at the last minute. Some have speculated that Maduro could use the crisis as an excuse to suspend the election. Supporters at a meeting with Venezuelan opposition presidential candidate Edmundo Gonzalez and opposition leader Maria Corina Machado at the Central University of Venezuela UCV in Caracas on July 14, 2024. Maduro currently faces drug trafficking and corruption charges in the US and is under investigation for crimes against humanity by the International Criminal Court.
Persons: Nicolás Maduro, Maduro, Edmundo Gonzalez Urrutia –, Hugo Chavez’s, Nicolas Maduro, Flores, Teresa Carreño, Jesus Vargas, , Edmundo Gonzalez, Maria Corina Machado, Pedro Rances Mattey, Gonzalez, Corina Yoris, Oswaldo Ramírez, ORC Consultores, , Juan Barreto, Chávez, Ryan Berg, They’re, Machado, Yoris, , Jimmy Carter –, Berg, ” Machado Organizations: CNN, of American, Teresa, Teresa Carreño Theater, International Monetary Fund, Central University of Venezuela UCV, Getty, Democratic, Venezuelan, Americas, Center for Strategic, International Studies, US, The Carter, European Union, CSIS, International Criminal, Socialist United Party Locations: Canada, United States, Caracas, Venezuela, Anadolu, , Agua, Maiz, AFP, Guyana
Do you want to be happier? Here are 5 habits to adopt
  + stars: | 2024-07-21 | by ( Andrea Kane | ) edition.cnn.com   time to read: +7 min
We can develop new habits.”She and other researchers have observed happy people tend to have certain habits. Which habits can you adopt to increase your level of happiness? “Spending more quality time with your partner, spouse, or kids, or reconnecting with old friends, are sure-fire ways to increase your own and others’ average levels of joy,” Lyubomirsky said via email. Expressing gratitude will encourage you to appreciate your good fortune and help get you through the rest of the day or week, Lyubomirsky noted. And join us next week on the Chasing Life podcast when we explore what it means to live a good life.
Persons: Sanjay Gupta, Sonja Lyubomirsky, ” Lyubomirsky, Lyubomirsky, , it’s, you’ve, Organizations: CNN, University of California Locations: Riverside
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