10 Updates

U.S. Athletes Already Owed $240,000 In Olympic Medal Bonuses

Feb 16 2014, 3:33pm CST | by

The United States is ordinarily a top medal contender at the Winter Olympics. In Vancouver in 2010 it won 37 medals, the most ever won by a nation in the Winter Olympics, and its nine golds were...

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23 weeks ago

U.S. Athletes Already Owed $240,000 In Olympic Medal Bonuses

Feb 16 2014, 3:33pm CST | by

The United States is ordinarily a top medal contender at the Winter Olympics. In Vancouver in 2010 it won 37 medals, the most ever won by a nation in the Winter Olympics, and its nine golds were tied for third-most at the Games. Four years earlier in Italy, the United States took home 25 medals, second-most behind Germany’s 29.

This year things got off to a bit of a slow start, due partly to a favored speed skating team failing to medal so far (possibly the result of ill-made uniforms). But America jumped toward the top of the leaderboard in recent days, thanks largely to a podium sweep in ski slopestyle. In fact, action sports have been the United States’ bread and butter, with eight of its 16 medals coming in slopestyle or halfpipe events.

The United States currently has 16 medals, just one behind the lead held by Netherlands. And those medal winners are well-rewarded for their success. The U.S. Olympic Committee pays out a $25,000 bonus per gold medal, $15,000 for silver and $10,000 for bronze. (The money does not come from the U.S.  government — the USOC gets its money from the sale of broadcast rights, licensing and trademark income, and corporate sponsorships.)

Those bonuses actually pale in comparison to some other nations – Russia pays $114,000 for a gold, and Kazakhstan leads the list with a $250,000 gold medal bonus – but America’s typical massive medal hauls mean big overall payouts. Last year the USOC paid $1.48 million to athletes who brought home a medal. After the Turin Games in 2006, it paid $720,000.

So far this year the USOC owes $240,000 to its 23 medalists (eight figure skaters comprised the group that took bronze in the team competition). That payout is sure to increase in the coming days, particularly because of success in hockey. The women’s team is expected to play Canada in the gold medal game, and the men’s team earned a bye to the semifinals with a 5-1 victory over Slovenia this morning. If both hockey teams land on the podium, the USOC will owe bonuses to 46 players; if both win gold, that’s $1.15 million just in hockey bonuses.

Germany, which leads the Games with seven gold medals, currently owes some $200,000. Canada, which is another favorite to take home two hockey medals, now owes just under $190,000.

Source: Forbes Business

 
Update
10

7 weeks ago

RM47mil KWSG contributions still unclaimed

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KUALA LUMPUR: About RM47 million of contributions in the Teachers Provident Fund (KWSG) still remain unclaimed, the D ...
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7 weeks ago

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Jun 9 2014 3:50am CDT | Source: Business Times Malaysia

KANGAR: A gold shop owner lost almost RM1 million after after the safe on in his shop was broken in ...
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8

7 weeks ago

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KUALA LUMPUR: AN emergency motion to debate the losses incurred by Malaysia Airlines last year, amounting to RM1.2 billion was rejected ...
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Update
7

7 weeks ago

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Jun 9 2014 2:11am CDT | Source: Business Times Malaysia

KUALA LUMPUR: Malaysia spent some RM27.6 million in its first phase of the search operations for missing Malaysia Airline flight MH370, said Acting Transport Minister, Datuk Seri Hishammuddin ...
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Update
6

7 weeks ago

9.1m litres of diesel seized in a month

Jun 8 2014 1:11am CDT | Source: Business Times Malaysia

PUTRAJAYA: The Domestic Trade, Cooperatives, and Consumerism ministry has seized some 9.1 million litres of diesel and property worth RM58 million since mounting ‘Operasi Diesel Selata ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
5

7 weeks ago

Girl, 9, awarded RM2.78m compensation for medical negligence

Jun 6 2014 4:56am CDT | Source: Business Times Malaysia

KUALA LUMPUR: A nine-year-old girl who suffered brain damage during her birth at a government hospital was awarded over RM2.78 mill ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
4

7 weeks ago

Malaysia's total trade in April up 12pc

Jun 5 2014 11:52pm CDT | Source: Business Times Malaysia

KUALA LUMPUR: Malaysia's total trade in April 2014 rose by 12 per cent from a year ago to RM123.86 billion due to growing trading activities, International Trade and Industry Minister Datuk Seri Must ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
3

7 weeks ago

Works Ministry to spend RM20m for upgrading works at 50 accident black spots

Jun 4 2014 11:35pm CDT | Source: Business Times Malaysia

JOHOR BARU: The Works Ministry will implement upgrading works at 50 accident prone locations in the country that have been identified this year involving an ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
2

7 weeks ago

Najib launches loan scheme for Ramadan traders

Jun 4 2014 10:24pm CDT | Source: Business Times Malaysia

PUTRAJAYA: Prime Minister Datuk Seri Najib Razak today launches RM45 million Ramadan Bazaar ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
1

7 weeks ago

Residents bring up objection against Kidex to Suhakam

Jun 4 2014 4:49am CDT | Source: Business Times Malaysia

PETALING JAYA: A group of 20 Petaling Jaya residents held a meeting with the Human Rights Commission of Malaysia (Suhakam) over their objection against the proposed RM2.2 billion Kin ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 

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