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News on Olympic village coming imminently

January 9th, 2009 · 2 Comments

The city of Vancouver has called a “technical briefing” for media on the Olympic village for 2 p.m., followed by a statement from Mayor Gregor Robertson at 3:30 p.m.

This hastily organized conference is apparently in response to Miro Cernetig’s anonymously sourced story in The Vancouver Sun today, where the key piece of new information is that Fortress Investment (the lenders to Olympic village builders Millennium Developments) has asked the city for more security, i.e. loan guarantees, for the $750-million loan it has committed to Fortress.

No clues as to what they will say, but based on this interestingly timed leak, my guess is that the news conference will be pretty doom and gloom about how bad everything is.

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