WEBVTT - Bloomberg's Levin on Issues Surrounding Rio Olympics (Audio)

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<v Speaker 1>percent to eight barrel. I'm Charlie Public. That's a Bloomberg

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<v Speaker 1>Business flash. You're listening to taking Stock with Bim Box

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<v Speaker 1>and Kathleen Hayes on Bloomberg Radio. Since winning its bid

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<v Speaker 1>for the sixteen Olympic Games seven years ago, Brazil's Reo

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<v Speaker 1>de Janeiro has undergone a construction boom. It includes new

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<v Speaker 1>sports venues, subway connections, and more infrastructure, but it has

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<v Speaker 1>also been marred by political scandal and a suffering economy.

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<v Speaker 1>Here to tell us more is Jonathan Levin. He is

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<v Speaker 1>Latin America m and a reporter for Bloomberg News. He

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<v Speaker 1>can be followed on Twitter at Jonathan J Levin and

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<v Speaker 1>he justus from Rio de Janeiro. Jonathan, thanks for being

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<v Speaker 1>with us tell us about the games and what has

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<v Speaker 1>marred the opening programs so far. Kept him good afternoon.

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<v Speaker 1>So um, you know, as you mentioned uh earlier in

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<v Speaker 1>your program, the people have been talking a lot about

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<v Speaker 1>the week economy and some of the fallout from that, right,

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<v Speaker 1>I mean Rio de Janeiro is a population and already uh,

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<v Speaker 1>sort of delicate population. And so when the when the

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<v Speaker 1>economy dips into recession like this, uh, you know you're

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<v Speaker 1>you're you're looking at some more desperate, desperate people in

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<v Speaker 1>the streets. Um. You know, there's there's been a slight

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<v Speaker 1>uptick in petty crime around the region, and some of

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<v Speaker 1>that has actually affected, um, the athletes and the games themselves.

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<v Speaker 1>One of the examples we saw, um i think yesterday

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<v Speaker 1>or the day before, the Chinese basketball team was that

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<v Speaker 1>was actually caught in the crossfire of a of a

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<v Speaker 1>shootout near one of the slums. Fortunately nobody was hurt,

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<v Speaker 1>but not that not the sort of headline that that

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<v Speaker 1>you want to see a few days before the opening ceremony,

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<v Speaker 1>hardly Now. One of the flagship transportation efforts this has

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<v Speaker 1>to do with Rio building a new subway extension. It

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<v Speaker 1>was supposed to link popular beach areas with the neighborhood

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<v Speaker 1>with the Olympic Park is located. Can you tell us

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<v Speaker 1>more about that? Yeah, I mean, so the controversy um

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<v Speaker 1>erupted when people realize that they weren't going to be

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<v Speaker 1>able to actually open this subway line until literally a

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<v Speaker 1>few days before the games. Uh. The good news is

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<v Speaker 1>that it is now open today and people are actually

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<v Speaker 1>using it. They haven't opened it for the general public.

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<v Speaker 1>It's only open for the use of what they called

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<v Speaker 1>the Olympic family, right, so athletes themselves, trainers, members of

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<v Speaker 1>the media. Um. But so far, so good. Um, insofar

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<v Speaker 1>as the people that need to get to the Olympic

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<v Speaker 1>Village for events are able to do so using that metro. Jonathan,

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<v Speaker 1>what about Zeka, the Zeka virus and efforts to prevent

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<v Speaker 1>greater infection. Yeah, so, you know, obviously it created a

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<v Speaker 1>lot of concern in the in the run up to

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<v Speaker 1>the Games. The interesting thing to remember, though, is that

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<v Speaker 1>we are in winter here in here in South America.

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<v Speaker 1>It's uh, it's particularly cold. It's it's even colder than

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<v Speaker 1>a lot of winters right now. And health officials believe

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<v Speaker 1>that that in a number of other factors, their their

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<v Speaker 1>their own, um, their own efforts to cut down on

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<v Speaker 1>the mosquito population have worked, and they are claiming that

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<v Speaker 1>the chances of an athlete or a tourist actually getting

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<v Speaker 1>ZEKEA are close to zero. Um. So, I mean that's

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<v Speaker 1>interesting to bear in mind. The Zeka scare has has

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<v Speaker 1>also created opportunities for some companies. One of the interesting

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<v Speaker 1>things is off has has an important role around around

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<v Speaker 1>the games. You know when when I picked up my

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<v Speaker 1>my press pass down at the Olympic village a few

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<v Speaker 1>days ago, they give you a backpack with with some

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<v Speaker 1>swag in it, and one of the things is a

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<v Speaker 1>a an Off bug spray. Right, So off is getting

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<v Speaker 1>its brand all over all over the Olympic Games. Jonathan

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<v Speaker 1>tell us about the security that has been put in

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<v Speaker 1>place for the athletes and for the spectators. Sure, so

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<v Speaker 1>five thousand security personnel. Those are members of the armed

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<v Speaker 1>forces and police. And uh, you know, it feels unlike

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<v Speaker 1>Rio de Janeiro ever has Uh there there has been

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<v Speaker 1>a pointed absence in UH important tourist regions of Rio

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<v Speaker 1>de Janeiro in the years passed since I since I've

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<v Speaker 1>lived here. But it feels completely and utterly utterly different

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<v Speaker 1>since about two weeks ago. Uh, everywhere that there is

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<v Speaker 1>a stadium or uh an event or tourists gathering. Uh

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<v Speaker 1>you see you see folks walking around in camouflage carrying

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<v Speaker 1>heavy duty weaponry. So UM, at least visually, UM this

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<v Speaker 1>deployment should we hope scare off, you know, the kinds

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<v Speaker 1>of crime that have afflicted the city in the past.

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<v Speaker 1>What did the citizens of Readisionneiro think about the Olympics?

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<v Speaker 1>Yeah so um interesting question. Obviously, the the the mindset

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<v Speaker 1>has changed quite a bit since two thousand nine. We

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<v Speaker 1>have this image of Brazilian celebrating, uh, the winning of

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<v Speaker 1>the of the Olympic Games today. Uh. We had we

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<v Speaker 1>had a we had a survey that came out recently

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<v Speaker 1>suggesting that about half of of Brazilians are not happy

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<v Speaker 1>to have have the Games here. And a lot of

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<v Speaker 1>it I think is just about the optics. You know,

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<v Speaker 1>the country is going through a deep economic recession. A

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<v Speaker 1>lot of people are out of their jobs, and when

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<v Speaker 1>billions and billions of dollars of being spent on a

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<v Speaker 1>mega event like this, uh, it doesn't it doesn't look

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<v Speaker 1>right to some folks. Thanks very much. Jonathan Levin, Latin

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<v Speaker 1>America mergers and acquisitions reporter for Bloomberg News, joining us

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<v Speaker 1>from the site of the Olympics and Rio de Janeiro, Brazil.

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<v Speaker 1>He can be followed on Twitter at Jonathan J. Levin.

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<v Speaker 1>Thanks for joining me on taking stock. I'm pim Fox.

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<v Speaker 1>This is Bloomberg Coming up Bloomberg Laws. Brought to you

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