It's hip, it's retro--and it comes at the bargain basement price of £400,000 ($790,000) in taxpayer cash. It's the London 2012 Olympic logo, unveiled last week. In among the abstract pink archipelago of shapes you might spot the year "2012." No? As Olympics organizing committee head Lord Coe explained to the BBC:It won't be to everybody's taste immediately but it's a brand that we genuinely believe can be a hard working brand which builds on pretty much everything we said in Singapore about reaching out and engaging young people, which is where our challenge is over the next five years.