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Bloomberg's Levin on Issues Surrounding Rio Olympics (Audio) · Bloomberg Intelligence

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  Speaker 1: Business flash. You're listening to taking Stock with Bim Box
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  Speaker 1: and Kathleen Hayes on Bloomberg Radio. Since winning its bid
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  Speaker 1: for the sixteen Olympic Games seven years ago, Brazil's Reo
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  Speaker 1: de Janeiro has undergone a construction boom. It includes new
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  Speaker 1: sports venues, subway connections, and more infrastructure, but it has
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  Speaker 1: also been marred by political scandal and a suffering economy.
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  Speaker 1: Here to tell us more is Jonathan Levin. He is
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  Speaker 1: Latin America m and a reporter for Bloomberg News. He
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  Speaker 1: can be followed on Twitter at Jonathan J Levin and
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  Speaker 1: he justus from Rio de Janeiro. Jonathan, thanks for being
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  Speaker 1: with us tell us about the games and what has
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  Speaker 1: marred the opening programs so far. Kept him good afternoon.
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  Speaker 1: So um, you know, as you mentioned uh earlier in
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  Speaker 1: your program, the people have been talking a lot about
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  Speaker 1: the week economy and some of the fallout from that, right,
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  Speaker 1: I mean Rio de Janeiro is a population and already uh,
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  Speaker 1: sort of delicate population. And so when the when the
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  Speaker 1: economy dips into recession like this, uh, you know you're
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  Speaker 1: you're you're looking at some more desperate, desperate people in
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  Speaker 1: the streets. Um. You know, there's there's been a slight
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  Speaker 1: uptick in petty crime around the region, and some of
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  Speaker 1: that has actually affected, um, the athletes and the games themselves.
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  Speaker 1: One of the examples we saw, um i think yesterday
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  Speaker 1: or the day before, the Chinese basketball team was that
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  Speaker 1: was actually caught in the crossfire of a of a
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  Speaker 1: shootout near one of the slums. Fortunately nobody was hurt,
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  Speaker 1: but not that not the sort of headline that that
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  Speaker 1: you want to see a few days before the opening ceremony,
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  Speaker 1: hardly Now. One of the flagship transportation efforts this has
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  Speaker 1: to do with Rio building a new subway extension. It
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  Speaker 1: was supposed to link popular beach areas with the neighborhood
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  Speaker 1: with the Olympic Park is located. Can you tell us
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  Speaker 1: more about that? Yeah, I mean, so the controversy um
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  Speaker 1: erupted when people realize that they weren't going to be
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  Speaker 1: able to actually open this subway line until literally a
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  Speaker 1: few days before the games. Uh. The good news is
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  Speaker 1: that it is now open today and people are actually
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  Speaker 1: using it. They haven't opened it for the general public.
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  Speaker 1: It's only open for the use of what they called
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  Speaker 1: the Olympic family, right, so athletes themselves, trainers, members of
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  Speaker 1: the media. Um. But so far, so good. Um, insofar
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  Speaker 1: as the people that need to get to the Olympic
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  Speaker 1: Village for events are able to do so using that metro. Jonathan,
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  Speaker 1: what about Zeka, the Zeka virus and efforts to prevent
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  Speaker 1: greater infection. Yeah, so, you know, obviously it created a
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  Speaker 1: lot of concern in the in the run up to
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  Speaker 1: the Games. The interesting thing to remember, though, is that
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  Speaker 1: we are in winter here in here in South America.
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  Speaker 1: It's uh, it's particularly cold. It's it's even colder than
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  Speaker 1: a lot of winters right now. And health officials believe
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  Speaker 1: that that in a number of other factors, their their
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  Speaker 1: their own, um, their own efforts to cut down on
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  Speaker 1: the mosquito population have worked, and they are claiming that
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  Speaker 1: the chances of an athlete or a tourist actually getting
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  Speaker 1: ZEKEA are close to zero. Um. So, I mean that's
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  Speaker 1: interesting to bear in mind. The Zeka scare has has
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  Speaker 1: also created opportunities for some companies. One of the interesting
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  Speaker 1: things is off has has an important role around around
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  Speaker 1: the games. You know when when I picked up my
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  Speaker 1: my press pass down at the Olympic village a few
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  Speaker 1: days ago, they give you a backpack with with some
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  Speaker 1: swag in it, and one of the things is a
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  Speaker 1: a an Off bug spray. Right, So off is getting
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  Speaker 1: its brand all over all over the Olympic Games. Jonathan
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  Speaker 1: tell us about the security that has been put in
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  Speaker 1: place for the athletes and for the spectators. Sure, so
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  Speaker 1: five thousand security personnel. Those are members of the armed
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  Speaker 1: forces and police. And uh, you know, it feels unlike
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  Speaker 1: Rio de Janeiro ever has Uh there there has been
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  Speaker 1: a pointed absence in UH important tourist regions of Rio
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  Speaker 1: de Janeiro in the years passed since I since I've
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  Speaker 1: lived here. But it feels completely and utterly utterly different
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  Speaker 1: since about two weeks ago. Uh, everywhere that there is
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  Speaker 1: a stadium or uh an event or tourists gathering. Uh
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  Speaker 1: you see you see folks walking around in camouflage carrying
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  Speaker 1: heavy duty weaponry. So UM, at least visually, UM this
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  Speaker 1: deployment should we hope scare off, you know, the kinds
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  Speaker 1: of crime that have afflicted the city in the past.
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  Speaker 1: What did the citizens of Readisionneiro think about the Olympics?
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  Speaker 1: Yeah so um interesting question. Obviously, the the the mindset
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  Speaker 1: has changed quite a bit since two thousand nine. We
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  Speaker 1: have this image of Brazilian celebrating, uh, the winning of
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  Speaker 1: the of the Olympic Games today. Uh. We had we
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  Speaker 1: had a we had a survey that came out recently
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  Speaker 1: suggesting that about half of of Brazilians are not happy
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  Speaker 1: to have have the Games here. And a lot of
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  Speaker 1: it I think is just about the optics. You know,
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  Speaker 1: the country is going through a deep economic recession. A
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  Speaker 1: lot of people are out of their jobs, and when
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  Speaker 1: billions and billions of dollars of being spent on a
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  Speaker 1: mega event like this, uh, it doesn't it doesn't look
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  Speaker 1: right to some folks. Thanks very much. Jonathan Levin, Latin
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  Speaker 1: America mergers and acquisitions reporter for Bloomberg News, joining us
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  Speaker 1: from the site of the Olympics and Rio de Janeiro, Brazil.
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  Speaker 1: He can be followed on Twitter at Jonathan J. Levin.
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  Speaker 1: Thanks for joining me on taking stock. I'm pim Fox.
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