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piggy bank

Saturday July 24, 2021

July 31, 2021 by Graeme MacKay

Editorial Cartoon by Graeme MacKay, The Hamilton Spectator – Saturday July 24, 2021

Athletes need a bigger slice of Olympic pie

Money makes the world go round, as they say, and Exhibit A must surely be the Tokyo Olympics.

March 16, 2020

Thousands of athletes from more than 200 countries are literally flying around the world during a pandemic for these Games because of the billions of dollars the broadcast rights are worth to the International Olympic Committee.

There are incredible challenges to hosting and competing in the delayed 2020 Games, which opened on Friday against the desire of the Japanese public, but it’s good business. Indeed, American broadcast giant NBC has already said it expects these Games to be its most profitable ever.

But with all this money sloshing around why does so little of it get to the athletes — a.k.a. the talent that makes the whole show possible?

London – July 27, 2012

The Olympics abandoned its ideals of amateur sport decades ago; we all know that. But these COVID Games — in empty stadiums, with no family and friends to share the experience, and no socializing among athletes to somehow make the world a better place through sport — have stripped away whatever pretence was left that the Olympics are more than a gargantuan money-making TV show.

It’s time the athletes — supported by fans — band together to demand a greater share of the Games revenues.

The athletes who spend years training and competing for these few weeks, made all the harder this time by the pandemic, deserve a fairer share of the financial rewards.

August 3, 2012

Officially, the IOC is a not-for-profit but this is not some shaky charity — it’s a multi-billion-dollar behemoth. It has more than $5 billion (U.S.) in assets, a reserve fund around $1 billion and its average annual revenues exceed $1.4 billion.

The IOC likes to say it spends 90 per cent of its Olympic revenues to “assist athletes and develop sport worldwide.” 

But the vast majority of that is spent on promoting the Olympic brand through a dizzying array of subsidiaries and affiliates, organizing future Games, and helping international sport federations and national Olympic committees. Not funding athletes. 

2016 Summer Olympic Games

The IOC spends a mere 4 per cent of its revenue directly on athletes through scholarships, grants and awards, according to a study by the Global Athlete advocacy group and Ryerson University’s Ted Rogers School of Management.

To put that in context, the players in the top professional baseball, basketball, football and hockey leagues get around 50 per cent of their league’s revenues.

It’s not directly comparable, of course, but it’s obvious the IOC should be directing a lot more of its extensive income to the athletes who make the Olympic show possible.

December 6, 2012

And if, as a consequence, the IOC had less money to spend on promoting itself, contributing to well-heeled middlemen and encouraging countries to take on appalling costs to host future Games, that wouldn’t be a bad thing.

Far from making life easy for athletes, the IOC has a rule that limits how much athletes can raise through their personal sponsors (should they be so lucky to have some) during the Games. It’s been relaxed recently, but not enough.

The truth is most Canadian Olympic athletes rely heavily on federal athlete assistance funding, side jobs, grants from the athlete charity CAN Fund, and the bank of mom and dad in order to train and compete at the level required for the Olympics. 

March 3, 2010

Nationally carded athletes report an average annual income of $28,000 — about minimum wage — leaving them with a deficit of $22,000, states a Sport Canada report.

They’re spending more to live, train, travel and compete than they make from sport. The Olympics relies on athletes and their families being willing to do this year in and year out.

They put on the show and yet the lion’s share of the money never gets near their pockets. It’s long past time that changed.

Calls for a fairer distribution of Olympic dollars are long-standing. And, thankfully, an increasing number of groups are starting the work of organizing athletes from around the globe in dozens of sports to push for change.

Athens – September 1, 2004

The International Swimmers’ Alliance is working to increase athlete influence over the sport and improve the financial situation of its athletes. 

The Athletics Association is looking to become a unifying and vocal voice for elite track and field athletes. Global Athlete wants to help drive a healthier power balance between athletes and sport leaders.

They’re all nascent movements and it will be an uphill battle. But it’s the right battle to take on.

The IOC makes more money. Broadcasters like NBC make more money. It’s time athletes got a bigger share.

Earlier this week, IOC president Thomas Bach updated the Olympic motto. It’s now Faster, Higher, Stronger — Together. The change, he said, was about adapting “to our times.”

Well, the Olympic funding model needs an update, too.

If we’re really in this together, the athletes who will entertain and inspire us over the next two weeks with all those faster, higher, stronger achievements should reap more of the rewards. (The Hamilton Spectator Editorial) 

 

Posted in: International Tagged: 2021-27, athletes, Games, International, IOC, olympics, pig, piggy bank, Sports, wealth

Tuesday June 22, 2021

June 29, 2021 by Graeme MacKay

Editorial Cartoon by Graeme MacKay, The Hamilton Spectator – Tuesday June 22, 2021

After a year of pandemic prudence, Canadians likely eager to spend the billions saved

If there is one silver lining to the COVID-19 pandemic for Grayham Havens, it was celebrating his two-year anniversary with his wife by purchasing a house last month.

January 18, 2018

All the government restrictions during the pandemic helped him drastically reduce his spending over the last year and begin socking away cash every month. After clearing leftover debt, the couple saved enough for a down payment.

Now, at the age of 40, Havens is a first-time home owner.

“We’re so fortunate, very fortunate, to get something like this,” he said about their grey bungalow in southeast Calgary, complete with a large deck, fire pit and pond in the backyard.

Havens isn’t alone. Canadians have saved a record amount of money during the pandemic, resulting from the combined impact of reduced spending and collecting more money from government support programs.

Havens and his wife were both able to collect Alberta’s critical worker benefit, as he was working in the grocery sector and she was involved in health care.

At the same time, their discretionary expenses — spending at places like restaurants and movie theatres — dropped sharply.

“We started saving thousands every month,” he said. “It started making me realize just how bad we were budgeting our own money in the first place. I mean, money was leaking left and right.”

Not everyone has extra money in the bank — but many do.

In fact, Canadians amassed $212 billion last year, versus $18 billion in 2019, according to Statistics Canada. That works out to $5,574 per Canadian on average in 2020, compared to $479 in the previous year.

The average savings rate jumped from 1.3 per cent of disposable income in 2019, to 14.9 per cent in 2020. In April, May and June of 2020, the savings rate peaked at about 27 per cent.

As a result, credit card balances are down, fewer people are behind on payments and credit scores are up, according to credit rating agency Equifax Canada.

The situation varies greatly from household to household, as there continues to be a deep division between the financial situation of many Canadians. In short, if you were able to keep your job and stay healthy, you were likely to see your finances improve during the pandemic.

“It was easy to save. It was not very forced. I can’t go get my nails done, get my hair done, going to the pubs a lot less,” said Karen Jacobs, who also purchased her first house, with her husband, in February.

They are now renovating the home from top to bottom after saving nearly $1,000 a month during the pandemic, including through lower phone and insurance bills.

The record level of savings is not the only reason behind Canada’s rising home prices, but it could provide a significant level of economic stimulus across the country. (CBC) 

 

Posted in: Canada Tagged: 2021-22, Canada, cost of living, covid-19, inflation, pandemic, Pandemic Times, piggy bank, price hikes, savings, taxes, Wheel of Fortune

Friday July 31, 2015

July 30, 2015 by Graeme MacKay

Friday July 31, 2015By Graeme MacKay, Editorial Cartoonist, The Hamilton Spectator – Friday July 31, 2015

Stephen Harper to launch campaign as early as Sunday

Prime Minister Stephen Harper will call an election as early as this Sunday, kicking off what would be the longest federal election campaign in modern history, CBC News has confirmed.

The election is generally considered to be set for Oct. 19, 2015, under the Conservatives’ fixed election law, although there is wiggle room. But Prime Minister Stephen Harper told Bloomberg News Wednesday that he considers that date to be set in stone.

Harper is expected to go to Rideau Hall Sunday or Monday to ask Gov. Gen. David Johnston to dissolve Parliament.

The Conservatives have sent out invitations to supporters for a rally in Montreal Sunday night. Harper is likely to head to Toronto after that.

Rumours about possible dates have swirled around Ottawa in recent weeks, partly because of a change in electoral law thought to benefit the Conservative Party.

RB-HelmetHarper-promoUntil last year, the spending limits were set no matter the length of a campaign, the minimum amount of time for which is 37 days (with voting day falling on the 37th day). But the Conservatives’ Fair Elections Act provided for the parties’ $25-million limits to be increased if the campaign is longer than 37 days: for each additional day the limit is increased by 1/37th, or an extra $675,000.

Candidates get an additional $2,700 a day to add to their usual limit of approximately $100,000. (Source: CBC News)

 

Posted in: Uncategorized Tagged: Canada, Conservative, election 2015, election2015, Elizabeth May, Gilles Duceppe, piggy bank, Stephen Harper, Tom Mulcair, writ

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This website contains satirical commentaries of current events going back several decades. Some readers may not share this sense of humour nor the opinions expressed by the artist. To understand editorial cartoons it is important to understand their effectiveness as a counterweight to power. It is presumed readers approach satire with a broad minded foundation and healthy knowledge of objective facts of the subjects depicted.

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