Steve Wynn is right!
- Thread starter AMT4SWA
- Start date
So, if someone is in abject poverty because they hit hard times their standard of living is the shits...
If the government then helps them out, their standard of living goes up from the shits to livable...
If the government then helps them out, their standard of living goes up from the shits to livable...
Quote from AMT4SWA:
Steve Wynn recent comment...........
"Government has never increased the standard of living of one single human being in civilization's history. For some reason that simple truth has evaded everybody. The only thing that creates an increased standard of living is giving someone a job, the demand for their labor -- whether it's you and I, Chris, or anybody else. The people that are paying the price for this juggernaut of federal spending are the middle class and the working class of America."
AMEN Steve Wynn!
http://www.youtube.com/watch?v=T7cW9ujow5E
http://www.youtube.com/watch?v=VdrxfFFeMbc
By the way, Wynn is losing his ass on his latest project...
Even Steve Wynn Is Losing Money at the Casinos
by Peter Newcomb
December 8, 2008, 2:52 PM
With the economy in a tailspin, itâs no wonder the nationâs big casino operators are crapping out. At this point, itâs hard to imagine anyone but the the addicted and the truly depraved laying down their money at the tables.
So just how far have the fortunes of the gambling worldâs kingpins dropped? We already reported on the bad luck that befell Sheldon Adelson, the cranky chief of Las Vegas Sands . Since hitting a high of $144.25 in October 2007, LVS stock has completely cratered, closing this past Friday at just $5.11. Adelsonâs own shares, once worth nearly $27 billion, today are worth less than $1 billion.
Other casino moguls have fared only slightly better. MGM Mirage owner Kirk Kerkorianâs stake in his company was worth once worth $16.4 billion. Today those shares are worth just $1.6 billion, a decline of nearly $15 billion.
Even quintessential casino tycoon Steve Wynn is taking it where it hurts (though he indicated otherwise to the New York Times). Wynnâs ownership in Wynn Resorts , valued at $4.3 billion late last year, today is worth less than $1 billion. But there is a bright spot. Whereas most casino stocks are down more than 90 percent from their peaks, Wynn Stock is off just 70 percent. In these tough times, a drop of 70 percent is considered getting off easy.
Nevadaâs Boyd family, the majority owner of Boyd Gaming once controlled shares worth $1.6 billion. The family, led by executive chairman William Boyd, will now have to make do with just $124 million.
And then thereâs Donald Trump. As The Donald is quick to point out to anyone that dares ask, his holdings in Trump Entertainment Resorts are but a drop in his net worth bucket. But even Trump has to cringe when he runs the math on that investment. After reaching their high of $23.47 in December 2006, Trump stock is now wallowing around 25 cents a shareâa 99-percent drop in value.
http://www.vanityfair.com/online/politics/2008/12/house...
Even Steve Wynn Is Losing Money at the Casinos
by Peter Newcomb
December 8, 2008, 2:52 PM
With the economy in a tailspin, itâs no wonder the nationâs big casino operators are crapping out. At this point, itâs hard to imagine anyone but the the addicted and the truly depraved laying down their money at the tables.
So just how far have the fortunes of the gambling worldâs kingpins dropped? We already reported on the bad luck that befell Sheldon Adelson, the cranky chief of Las Vegas Sands . Since hitting a high of $144.25 in October 2007, LVS stock has completely cratered, closing this past Friday at just $5.11. Adelsonâs own shares, once worth nearly $27 billion, today are worth less than $1 billion.
Other casino moguls have fared only slightly better. MGM Mirage owner Kirk Kerkorianâs stake in his company was worth once worth $16.4 billion. Today those shares are worth just $1.6 billion, a decline of nearly $15 billion.
Even quintessential casino tycoon Steve Wynn is taking it where it hurts (though he indicated otherwise to the New York Times). Wynnâs ownership in Wynn Resorts , valued at $4.3 billion late last year, today is worth less than $1 billion. But there is a bright spot. Whereas most casino stocks are down more than 90 percent from their peaks, Wynn Stock is off just 70 percent. In these tough times, a drop of 70 percent is considered getting off easy.
Nevadaâs Boyd family, the majority owner of Boyd Gaming once controlled shares worth $1.6 billion. The family, led by executive chairman William Boyd, will now have to make do with just $124 million.
And then thereâs Donald Trump. As The Donald is quick to point out to anyone that dares ask, his holdings in Trump Entertainment Resorts are but a drop in his net worth bucket. But even Trump has to cringe when he runs the math on that investment. After reaching their high of $23.47 in December 2006, Trump stock is now wallowing around 25 cents a shareâa 99-percent drop in value.
http://www.vanityfair.com/online/politics/2008/12/house...
Not really.....I have worked on and flown Boeing, McDonald Douglas, and Airbus aircraft. All these companies are tied into the aircraft and space programs industrial sector....heck most of the avionics suppliers are the same group who build controls for the space industry, etc.Quote from hoodooman:
There is a big difference between the aircraft/space industry and the airline industry. If you don't know that then you are an idiot.
They are all the same industrial/economic sector....very simple to see that.
Their own family and/or local community is the ultimate place to get the BEST support in that situation.....NOT the federal governemt imo. The federal government is all about creating dependency (thanks to our elected leaders and junk political system) and NOT about the actual caring for people to help them out....that should be VERY CLEAR....CRYSTAL!
What if the family and community is also in the same situation?
Our American history has not shown that there is not great support by the community to help those in need during difficult times...
Our American history has not shown that there is not great support by the community to help those in need during difficult times...
Quote from AMT4SWA:
Their own family and/or local community is the ultimate place to get the BEST support in that situation.....NOT the federal governemt imo. The federal government is all about creating dependency (thanks to our elected leaders and junk political system) and NOT about the actual caring for people to help them out....that should be VERY CLEAR....CRYSTAL!
That new question still does not in any way, shape, or form, change the problem of the federal option to be the cure for those type of situations. There will always be programs through local communities, churches, and charitable groups that if PROPERLY supported through current laws can be the ultimate local level backstop for those in need. NOT pelosi sitting in her hybrid L600h thinking about the next group she can "lock in" and DEPENDENT voters....... :eek: