Dollar's double edged sword

[MJD]

""There's a positive effect, obviously, for us as we still rely on the trips down south," Athletics Canada coach Les Gramantik said. "Athletes will try to spend some time in Arizona or Louisiana in the early part of 2008. A $100 US night in a hotel would cost $130 Canadian. Now it's going to be $100 or $99 Canadian. That's quite a good opportunity not to have to spend as much money."

The downside is that all prize money from the IAAF is awarded in US dollars. So the $40,000 US that Pickering hurdler Perdita Felicien earned for her 2007 world championship silver medal is dwindling by the day. "

http://torontosun.com/Sports/OtherSport ... 5-sun.html

[malmo]

Re: Dollar's double edged sword

""There's a positive effect, obviously, for us as we still rely on the trips down south," Athletics Canada coach Les Gramantik said. "Athletes will try to spend some time in Arizona or Louisiana in the early part of 2008. A $100 US night in a hotel would cost $130 Canadian. Now it's going to be $100 or $99 Canadian. That's quite a good opportunity not to have to spend as much money."

The downside is that all prize money from the IAAF is awarded in US dollars. So the $40,000 US that Pickering hurdler Perdita Felicien earned for her 2007 world championship silver medal is dwindling by the day. "

http://torontosun.com/Sports/OtherSport ... 5-sun.html

Presumably, her money isn't sitting in a US bank?

[MJD]

My guess is that statement about Felicien is speculation. Although, it probably is in a US bank given that she is likely a USAnian for tax and residency purposes-although for a guy like TC, who would convert it, the timing of the payment would be important given how fast the slide. Some real funky things can also happen depending on your residency, the withholding tax, tax filings etc.