Wynn Resorts Earnings and More

Wynn Resorts (WYNN) reported earnings for its second quarter this morning, . . . not bad:
"The company [WYNN], led by billionaire CEO Steve Wynn, reported after the markets closed that it earned $122 million, or 97 cents per share, for the quarter that ended June 30. That's up from $52.4 million, or 42 cents per share, a year earlier."
Ref: AP


In response to a question concerning additional development in Las Vegas, Mr. Wynn expressed some dismay with US Government policy toward business:

"Well, here's our problem. There are a host of opportunities for expansion in Las Vegas, a host of opportunities to create tens of thousands of jobs in Las Vegas. I know that I could do 10,000 more myself and according to the Chamber of Commerce and the visitors convention bureau, if we hired 10,000 employees, it would create another 20,000 additional jobs for a grand total of 30,000. I believe in Las Vegas.I think its best days are ahead of it.

But I'm afraid to do anything in the current political environment in the United States. You watch television and see what's going on on this debt ceiling issue. And what I consider to be a total lack of leadership from the President and nothing's going to get fixed until the President himself steps up and wrangles both parties in Congress. But everybody is so political, so focused on holding their job for the next year that the discussion in Washington is nauseating. And I'm saying it bluntly, that this administration is the greatest wet blanket to business, and progress and job creation in my lifetime. And I can prove it and I could spend the next 3 hours giving you examples of all of us in this market place that are frightened to death about all the new regulations, our healthcare costs escalate, regulations coming from left and right.

A President that seems, that keeps using that word redistribution. Well, my customers and the companies that provide the vitality for the hospitality and restaurant industry, in the United States of America, they are frightened of this administration. And it makes you slow down and not invest your money. Everybody complains about how much money is on the side in America. You bet and until we change the tempo and the conversation from Washington, it's not going to change. And those of us who have business opportunities and the capital to do it are going to sit in fear of the President.
And a lot of people don't want to say that. They'll say, God, don't be attacking Obama. Well, this is Obama's deal and it's Obama that's responsible for this fear in America. The guy keeps making speeches about redistribution and maybe we ought to do something to businesses that don't invest, their holding too much money. We haven't heard that kind of talk except from pure socialists.

Everybody's afraid of the government and there's no need soft peddling it, it's the truth. It is the truth. And that's true of Democratic businessman and Republican businessman, and I am a Democratic businessman and I support Harry Reid. I support Democrats and Republicans. And I'm telling you that the business community in this company is frightened to death of the weird political philosophy of the President of the United States. And until he's gone, everybody's going to be sitting on their thumbs."
[boldface added - DD]
Ref: WYNN Earnings Call Transcript

Eh ! What does he know ? ? ?

That's one of the reasons for term limits. Maybe then people would actually get stuff done instead of figuring out how to keep getting re-elected.

I had no idea Wynn was a Democrat. Maybe he's a DINO.

Does anyone with any common sense and with functioning brain cells have any questions? I believe Wynn has described the present day status of our economic woes perfectly. To those of you who have been duped by the " change you can believe in " mantra - how do you like your President now? Election day can not come soon enough.

They've got more important stuff to think about than the US Economic Situation...things like Phone Hacking in England....of course there's always the Weiner Tweets or Casey Anthony you really want to change the subject.

OMG!! This thread didn't stir up a complete hornets nest? Mal and asisniegn asleep? Did hell freeze over while i was away?

Perhaps mr wynn speaketh a bit to much truth to raise any oppisition?


J

DonDiego welcomes jatki99 back. He is pleased that jatki99 remains on the right side of the grass.

Don Diego's article tells you everything you need to know: Steve Wynn believes the president is bad for business. Steve Wynn's business is doing better than ever before.

Mr Wynn blames the president for not getting the tea-party caucus in the House to agree to the debt ceiling increase....something the tea-pay caucus (led by Michelle Bachmann) has said they will not increase under ANY CIRCUMSTANCE. I'm curious if Don Diego agreess with Mr Wynn that the debt ceiling should be increased for the benefit of business ...or if he agrees with Tea-Party caucus leader Bachmann who believes it should not be raised under any circumstance.

I predict 2 things:
1) The debt ceiling will be raised.
2) Steve Wynn will NOT hire 10,000 workers in Las Vegas once it has been raised.
Lets revist my prediction in 6 months.

My business is doing well too. It did well under George Bush and it did well under Bill Clinton. I guess when your business is doing well it disqualifies you from commenting on the slowest recovery, highest sustained unemployment and largest deficits in 60 years....because...because PJ believes businessmen can only comment on how well their own businesses are doing.

Now, if most businesses were doing better than ever he might have a point....Is that what PJ is saying...that the Economy is Good...or Is it bad, but Steve Wynn isn't qualified to comment on it because he's doing good? Or would PJ just prefer we all ignore Democrat Steve Wynn?

Picking and choosing who is doing well and who is not doing well does not change the reality. Yeah, check back in 6 months and you will get to revisit the continuing downward spiral. Don't forget who is at the helm, your duly elected Socialist Barrack "change you can believe in" Obama. I used to wonder how this demigod got elected in the first place - after reading the brain dead comments here I now see how it happened. I guess those who expound Obama's ways just can't bring themselves to admit they made a mistake. A huge mistake.