This winter the Olympics return to Canada for the first time since the Calgary games of 1988. For many people, the most vivid memories of that Olympiad are the colourful stories of some of the less accomplished athletes, such as British ski jumper Michael “Eddie the Eagle” Edwards and the members of the Jamaican bobsled team. It’s unlikely, though, that there will be any charming underdogs in this year’s Olympiad, as the games become more and more the province of professionals. As audiences and advertising revenues drop, however, will the professionalization of the Games spell their downfall?
As media outlets continue to close and advertising budgets shrink, the once-mighty Super Bowl is receiving much less buzz than usual. A number of major advertisers, such as Federal Express and troubled automaker General Motors, have decided not to run Super Bowl ads at all this year. Another January event, though, is attracting a surprising amount of media attention: the U.S. presidential inauguration.
There’s an old urban legend called “the water engine,” which tells of the discovery of a way to turn water into fuel. There are variations to the story – sometimes it’s tap water, sometimes sea water; in recent versions it’s specified the fuel is nonpolluting – but the ending is always the same: the invention is suppressed by the oil companies, either by buying the invention and burying it or by forcing the inventor into ruin and suicide. One reason the legend has persisted so long – it’s been recorded as early as the 1950s, and probably dates to the first time someone grumbled about the cost of filling up his car – is because it confirms something we already believe, which is that the oil companies are evil and would rather murder a man and doom the world than sacrifice a dime of profit.