… not in Station Casinos but in Orange County real estate, it would seem. The neighborhood is popular with casino moguls who have run their companies into the ground: A nearby, $35 million crib is a domain whose master is Jerry Herbst, late of Herbst Gaming, recently surrendered to its creditors.
At least Frank J. Fertitta III can argue that he was bargain-shopping, as his Emerald Beach pied-a-terre was purchased for 24% off list price. Station employees, however, aren’t likely to be house-hunting anytime soom.
I’m reminded of something Transport Workers Union representative Joe Carbon said last week: “That’s what it’s about … the CEOs making their $25 million and the workers having their health plan cut.” He wasn’t speaking of Station or Herbst specifically but the consequences of poor leadership at both redound primarily to the workforce — and the creditors.
[…] Lon were really so gosh-darned concerned for the welfare of the community, instead of chilling at Frank’s $28 million Orange County crib they’d have been lobbying for better funding for Nevada’s […]