London 2012 organizers warned to control costs

LONDON (AP) -- The British government's financial watchdog renewed concerns Thursday about cost overruns for the London 2012 Olympics, especially any potential changes after assessing next month's Beijing Games. The House of Commons Public Accounts Committee said organizers should be braced for a costly reevaluation of security, which could diminish the venues' legacy benefits. While construction of the Olympic Stadium started three months ahead of schedule and work on the Aquatics Center began two months early, the PAC noted "slippage" in the planned completion of some projects. "Despite our recommendations, arrangements to manage the whole program and the associated risks are not yet in place," PAC chairman Edward Leigh said. "As legacy and security requirements are firmed up and as lessons from Beijing are taken on board,... [read full story]