Wynn blasts Obama
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Lowaicue
英語在香港
Nope. It is because Macau is already outperforming Las Vegas and its still in first gear. That's why they are here. America just doesnt have the business - even with a return to its former glories. Nothing at all to do with your politicians. Of course you may well believe it does because you have little idea of what happens beyond your picket fence, but you would be wrong. Sorry, but that's the way it is.
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The Almighty
LMAO... yes, China is communist on the whole, but has opened up to capitalism over the past decade as they see the benefits.
The US as a whole is capitalistic, though the current administration is hell bent on crippling it as much as it can all in the name of big government.
The two countries are trending in opposite directions.
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The Almighty
Macau is definitely the higher growth area right now. No one, not Wynn, nor myself is suggesting otherwise. Now stop and actually think about it for a moment..... if Macau grows at 50% (just making up numbers for the example) and Vegas at 25%.... do you not invest in Vegas if you have the capital to do both projects?
Clearly, you didn't read the second link which was to the July 2011 report from the National Federation of Independent Businesses. The single most important problem right now account to NFIB's members is poor sales. The economists and the businesses are in agreement.
Lowaicue
英語在香港
you are showing your ignorance. It is not that Las Vegas has or has not shrunk, it is because Macau is so big that Wynn would be a fool to stay 100% in Vegas. So it has everything to do with your perceived problems.
Where did you get the idea that I was against Wynn's investment in China? Better get back and re-read what I said.
Lowaicue
英語在香港
Sure. But you need to prioritise. Ten years ago when I first visited Macau there was no Chinese trade, no Wynn, no Adelson. I think the Venetian (or it might have been the Wynn resort), broke even in something like 6 months!!! so you get your land (by building new islands) and get on with installing thousands more tables and thousands more rooms and you pay a manager to look after Vegas.
You have a potential market of five times that of the US.
Lowaicue
英語在香港
Problem? What problem? I am saying that Wynn's whining is phoney because he is covering his arse as he invests in Macau.
If you do not understand please ask someone other than me.
Topspin
Verified User
so you added dogshit, if wynn was the only one sitting on a pile of cash you'd have a point. He's not and you don't.
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The Almighty
You really are the queen of cherry picking to try and force the story you want.....
Yes, out of there list "poor sales" had the highest response with 24%.
Now lets look at what I was referring to: (the other reasons)
Taxes: 20% (Obama is causing extreme uncertainty here)
Inflation: 7% (The insane spending habits in DC are causing this)
Government regulations/red tape 15% (Obama's penchant for red tape is increasing concerns here)
Cost of Insurance 7% (Obama care has them scared)
Cost of Labor 3%
Finance & Interest rates 3%
Enough said.
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The Almighty
ok.... and WHO says Wynn isn't prioritizing? He was going into Macau regardless of the US environment because Macau made sense for the reasons you pointed out. The most important one being the relative infancy of Macau vs. Vegas and thus the higher potential return.
That does not change the fact that he would also like to invest more in Vegas.... especially with the real estate market there the way it is right now relative to the past decade+. Yet he is not doing so due to the concerns he listed. Macau has NOTHING to do with his Vegas decision.
Right. Poor sales is the single largest factor. Thanks for confirming it.
Taxes, if you look at the accompanying chart, is at a relative historical low and is lower now than it was in the Reagan era. Insurance is extremely low relative to the Bush years. If Obama "has them scared," Bush had them shitting bricks. Government regulations are right around where they were in 1988. I guess Ronny had them freaked out.
You're a joke.
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The Almighty
You are such a fucking idiot.... if you add up all the others that have to do with the POLITICAL policies.... ie.... taxation, government regs, inflation etc.... it FAR outweighs the poor sales you fucking retard.
But if you look at the trends, those are almost always the biggest factors, regardless of who is president. What is remarkable about the present is that, notwithstanding Steve Wynn's thoughtful analysis, since 2008/09 poor sales -- not government policies -- has become, for the first time since 1986, the single biggest problem.
In summary, since 1986 -- Reagan, Bush, Clinton, Bush -- poor sales has never been the single biggest problem. Now it is.
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The Almighty
Do refresh our memories.... when was the last time unemployment was this high? and how long did it last?
Sale ARE going to hurt and be of a concern to businesses. Now if 50% are saying they are not hiring due to uncertainty over taxes, regulations, insurance, and inflation.... it is going to KEEP unemployment high which will continue putting pressure on sales.
So WHAT is going to get businesses to start hiring dung? MORE regulations? HIGHER taxes? HIGHER insurance costs? HIGHER inflation? You think those are going to help hiring?
cawacko
Well-known member
After re-reading your comment a few times I'm still not understanding why Wynn is a moron. CEO's, Investors etc. often talk about the market they face. Heads of public companies are required to do so. I understand disagreeing with his position but he is a moron because he is stating what many business leaders have stated about current economic conditions and our current political leadership?