Aka Wynn’s Struggle, a melodrama in three acts. In Act I, impervious to irony, Steve Wynn chides Washington, D.C., for overspending, overborrowing and artificial economic stimulation … as though nothing like that happened right along the Las Vegas Strip. He lauds the “stability” of China contra the jittery old U.S. of A. (among other subtly anti-democratic sentiments) but stops short of saying its trains run on time.
Act II: Wynn explains — and simultaneously pooh-poohs — that magical acronym known as “EBITDA.”
Act III: Wynn admits jokingly that he’s “grow[ing] old ungracefully.”
So is this “the end” of a 10-year reinvention of the Desert Inn site? I don’t believe it!
wynn’s [and adelson’s] focusing attention on macau is logical when the current federal administration has announced the “boot on the neck” of american, for profit businesses.
seems to me that the chinese have a steadier hand on their economy. businesses may not be exposed to overnight excess profits taxes, greased in unions, or retroactive enviro regulations.
and with the flight of quality jobs offshore, wise businessmen should follow the money, set up shops in venues where the middle classes are expanding. employed middle class americans used to pay the nut of las vegas joints.
When you negligently ruin your neighbor’s property, like off the coast of Louisiana, it is criminal not profitable. Crime doesn’t pay. As for Steve Wynn, I wish he would just stop being bashful and say what he really thinks — and I really hope he is wrong. Maybe it is beside the point, but was Wynn so vocal about debt when the last administration blew through Clinton’s surplus and decided to go to war? Wars are even more expensive than a week in Macao or Las Vegas circa 2005.
when times are tough, visitors with discretionary spending skimpy, and an administration that has promised to cripple businesses, it’s wise to diversify one’s investments. same as an individual must seek shelter in rough waters. thus the flight to “liquidity” of late in the financial markets.
both adelson and wynn, using their own money and credit worthiness are smart to split their assets lest one be crippled by a loose cannon administration.
as to some administration blowing money, that’s a function of the house of representatives where spending bills originate. with a like minded wastrel as president, it’s no wonder that the u.s. is approaching “upside down”.
“So is this “the end” of a 10-year reinvention of the Desert Inn site? I don’t believe it!”
I don’t believe it, either. However, it’s the end in Steve’s mind while he focuses on Asia. When Las Vegas absorbs its room inventory and our economy looks brighter and more stable, Steve will once again dust off the plans for the golf course land. This might be ten years from now, at which time Steve Wynn will be 78 years old.
Wynn just told way too many truths for the simplistic, moronic, brainwashed fans of The Messiah to handle.
The Chinese Communists sure seem to be doing a better job at capitalism then the Chicago/Harvard/Boston/LA Communists running this country.
Wonder how they handle illegal aliens? After all the American Communists (aka progressives) “No Human Is Illegal” policy has worked SO well.