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Posted At : March 12, 2009 10:25 AM | Posted By : D McKee
Related Categories:
Macau,Sheldon Adelson,Wall Street
Las Vegas Sands' CEO has been quite the Chatty Cathy of late, feeling emboldened by his disposal of ex-deputy William Weidner, no doubt. The Associated Press' Oskar Garcia caught up with mogul in New York, sounding like he'd read a few too many of his own press clippings: "The difference between us and you guys [Wall Stret] is that we believe what we say. Apparently the market doesn't believe us." A $1.62 share price definitely constitutes disbelief.
If Sands succeeds in cutting $470 million from its budget this year, Adelson says, "there's no need for us to go out and sell assets." Even so, he's entertaining two buy-in offers, he says, two inquiries about the availability of Sites 5 and 6 on the Cotai Strip™ and as many 19 bids on one or another of two malls he's building in Macao -- all of which should be soothing music to investors' jangled ears.
Matters, Adelson said, are better than ever now that he's shot of Weidner, proclaiming, "Don't think that we have one foot in the pail of bankruptcy and the other on a banana peel in the middle of a hurricane. That's not the case."
I feel better now. Don't you?
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