YIKES!

Olympic Security Firm May Lose $77M

Failed to recruit enough staff.

The contracting firm responsible for providing security for the 2012 Olympics in London said on Saturday that the Games could cost it $77 million after failing to recruit as much staff as promised in the contract. The British government said earlier this week that it will have to deploy an additional 3,500 troops to provide security at the games—especially due to heightened fears of a terrorist attack by al Qaeda, the Irish Republican Army, or other extremist groups—bringing the total number of troops deployed for the games up to 17,000. G4S had originally been planning to bring in a staff of 10,400, but some problems arose in the training and vetting, and only 4,000 are ready at this time. This likely will cost the company between $54 million and $77 million.