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Steve Wynn Annihilates Barack Obama: "This Administration Is The Greatest Wet Blanket To Business And Job Creation In My Lifetime"

Tyler Durden's picture




 

During the just completed Wynn earnings calls we witnessed what is without doubt the most blistering and scathing critique of Obama's administration to date by anybody in the public domain.

From the call transcript:

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 this debt ceiling issue.  And what I consider to be a total lack of leadership from the President, and nothing will 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 three hours giving you examples of all of us in this marketplace that are frightened to death about all the new regulations, our health care costs escalate.  Regulations coming from left and right.  A President that seems, you know -- 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're 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 you know, a lot of people don't want to say that.  They say oh, 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's ought to do something to businesses that don't invest, they're holding too much money.  You know, we haven't heard that kind of money except from pure socialists.

Everybody is afraid of the government.  And there's no need -- there's no need, you know, soft pedaling it.  It's the truth.  It is the truth.  And that's true of Democratic businessmen, and Republican businessmen, 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 country is frightened to death of the weird political philosophy of the President of the United States.  And until he's gone, everybody is going to be sitting on their thumbs.

And if anyone should know about a comparison between capitalism and communism it is Steve Wynn: after all the biggest growth prospect for his company, and the only reason why his company trades at the multiple it does, is currently located roughly 12 time zones away in Macau.

 

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Mon, 07/18/2011 - 20:27 | 1468531 GetZeeGold
GetZeeGold's picture

 

Now now.....let's not get personal here. Marxisim is a big tent.

Everybody is afraid of the government. 

"When governments fear the people, there is liberty. When the people fear the government, there is tyranny."

 

 

Mon, 07/18/2011 - 20:36 | 1468569 quintago
quintago's picture

i just got back from LV and the Wynn less than 24 hours ago. The place was dead relative to all the other times I've been there.

Mon, 07/18/2011 - 20:43 | 1468589 Alcoholic Nativ...
Alcoholic Native American's picture

That place is going the way of Mesa Verde.  Good riddance.

Mon, 07/18/2011 - 20:48 | 1468604 GetZeeGold
GetZeeGold's picture

 

The USA is going the way of the USSR.....good riddance.

 

Mon, 07/18/2011 - 21:23 | 1468717 Pladizow
Pladizow's picture

Read Dimitri Orlov's - Reinventing Collapse.

Mon, 07/18/2011 - 21:36 | 1468749 mess nonster
mess nonster's picture

+10 Read it! Funny, engaging, thought provoking. Steve Wynn should read it before the crew shows up to dismantle his long abandoned hotels and sell the contents for food.

Mon, 07/18/2011 - 22:02 | 1468821 hedgeless_horseman
hedgeless_horseman's picture

Kunstler's The Long Emergency is a good read as well.  The companion fiction novels are less informative, but entertaining and short.  The Geography of Nowhere may be the best of the four, but the most depressing, unless you live in an older European village.

Tue, 07/19/2011 - 01:50 | 1469301 roadlust
roadlust's picture

and Wynn, who inherited his business from daddy, and makes his "profits" off sick losers in America's most pathetic excuse for an "industry," is an insufferable f#$#ing a#%hole.  He can "sit on his hands," his face, or his fat ass.  Who cares?  With his plastic surgery and hairpiece, they look the same.

Like Wayne Newton, and what happens on puking weekend binges, Wynn's "wisdom" needs to stay in the armpit known as Vegas. 

Mon, 07/18/2011 - 22:34 | 1468917 LetThemEatRand
LetThemEatRand's picture

Vegas is even better than Washington at redistributing wealth from the poor to the rich.  Wynn doesn't like the competition.  Like all conservatives, he blames the poor for ruining the economy while the top .1% laugh all the way to the (Swiss) bank with our Treasury.

Mon, 07/18/2011 - 22:55 | 1468968 janchup
janchup's picture

Keep lying if it's your best talent.

Mon, 07/18/2011 - 23:38 | 1469066 jeff montanye
jeff montanye's picture

speaking of lying, if steve wynn is trying to judge reality by barack obama's speeches then he is dumber than i am.  which is saying a lot.

Tue, 07/19/2011 - 01:23 | 1469269 El Oregonian
El Oregonian's picture

who forces you to go bet? at least in LV there is a chance of winning...albeit a small chance. This admin. is forcing this redistribution on us all. Rather take my chances with the mob in LV than the Chicago Mafia in the White House.

Tue, 07/19/2011 - 01:24 | 1469270 El Oregonian
El Oregonian's picture

who forces you to go bet? at least in LV there is a chance of winning...albeit a small chance. This admin. is forcing this redistribution on us all. Rather take my chances with the mob in LV than the Chicago Mafia in the White House.

Mon, 07/18/2011 - 20:40 | 1468581 I think I need ...
I think I need to buy a gun's picture

it is going to be redistibution....its called gold revaluation or dollar devaluation...same thing....history repeats....but the truly rich get richer in this process....

Mon, 07/18/2011 - 20:57 | 1468635 Zero Govt
Zero Govt's picture

the parasites will continue to feed on the nations blood so long as the nation is dumb enough to keep feeding the parasites

Stop Paying Your Taxes

Zero Tax = Zero Govt 

Mon, 07/18/2011 - 21:25 | 1468721 Pladizow
Pladizow's picture

Watch Aaron Russo's - Freedom to Facism - http://www.youtube.com/watch?v=lUpZhhbKUBo

Mon, 07/18/2011 - 20:57 | 1468639 Zero Govt
Zero Govt's picture

the parasites will continue to feed on the nations blood so long as the nation is dumb enough to keep feeding the parasites

Stop Paying Your Taxes

Zero Tax = Zero Govt 

...how simple can the solution be?

Thu, 07/21/2011 - 00:14 | 1468823 Rynak
Rynak's picture

right, every possible "lack of government" will result in heaven, and every possible governance, will result in hell.

If only things were as simple as that, in "the real world (tm)". Just pick the right camp, and guaranteed instant-heaven.... how intellectually.... "comfortable". No need to think about how lack of governance would work. No need to think about how governance could work.... just pick the right team, and #winning!

Now, please excuse me while i #headshot...

Thu, 07/21/2011 - 00:23 | 1476157 Rynak
Rynak's picture

...and headhot with a vengeance all those braindead sheep, who are incabable of autonomous "libertarian" thought, that does not subribe to idealogies.

Thanks for sucking at liberty.

(they really should make a videogame out of this: survival Z against braindead sheep - kill those fucking  evolutionatry lusers, who resit against thinking in more than binaryl!!!!)

Tue, 07/19/2011 - 06:17 | 1469429 Ace Ventura
Ace Ventura's picture

Believe me, most here would like nothing more than to stop 'paying our taxes'. There's the small problem of having these taxes forcibly garnished from your wages however, thus removing the individual's choice in the matter.

Concurrently, there is also the small problem of the IRS jackboots showing up at your door, regardless of where that door may be. I always said Casey Anthony should have been tried for tax evasion, thus making the guilty verdict a foregone conclusion. For that matter, our long dead buddy OBL would have been scooped up within a matter of weeks if his 'crime' had consisted of the utter heinosity known as 'tax evasion/avoidance'.

So yes, we'd love to stop enabling this wanton theft of the fruits of our labor. Many have tried, and paid the price. I don't see any way out of this (and all related ailments currently affecting our dying republic) aside from full blown physical revolution. If you've got a better idea we're all eyes. :)

 

Tue, 07/19/2011 - 09:11 | 1469697 -Michelle-
-Michelle-'s picture

You can't not pay indefinitely, but you can adjust your withholding and not allow them to use your overpayment to float along each month.  It's something, at least.

Tue, 07/19/2011 - 10:03 | 1469875 MachoMan
MachoMan's picture

Actually, you can...  there is a statute of limitations on the IRS' ability to collect back taxes...  had a client recently roll over the SOL...  got rid of 5 figures worth of alleged tax debts...

The issue is having someone else to float you while the time runs out...  e.g. a spouse...  because you can't take any salary or any money sufficient to require you to report...  nor can you provide services to the same threshold.  As long as your spouse files separately, then any refunds won't go to pay off your alleged debts.

Further, practically speaking, if you have no income for a couple years and no net assets, you'll probably be able to settle for a fraction of the amount alleged owed...  and get it behind you without waiting for the SOL to run.  The IRS' desire to settle offers in compromise is largely based upon your net assets...  if you have none, then they have no ability to collect on the debt and they know it.  As long as you're not up for criminal evasion, then you're probably good to go.

Tue, 07/19/2011 - 01:53 | 1469304 roadlust
roadlust's picture

If this invisable "redistribution" ever happens, wake me up.  I'll finally be able to fly my dad's stars and stripes again in front of the house.

Mon, 07/18/2011 - 21:14 | 1468698 Pladizow
Pladizow's picture

Wynn has had this mindset, correctly, for some time.

Here is a video interview from 5/2010 - http://video.cnbc.com/gallery/?video=1506508223

Tue, 07/19/2011 - 07:09 | 1469455 Dburn
Dburn's picture

Quarterly Conference calls are usually where CFOs and CEOs talk about the reality of last quarter. Rarely, if ever, has a CEO blamed performance on elected professionals. After-all if anyone should know about how little capital it takes to make laws and policy favorable to your company it should be Wynn.

Shareholders expect, in return for 100s of millions or more a large company CEO accumulates, that they as leaders of their organizations will be proactive and seize opportunity where no one thought there was any. Of course that's bullshit too.

At the very least, talking about jobs, an expense, on a CC call when the only thing people want to hear is how one plans to lower expenses and increase productivity tends to make Wynn look like a total asshole who blames others for what could be perceived as not being an exceptional Master of His Universe worth billions more than the blackjack dealers and others who bring in all his money.

Mon, 07/18/2011 - 21:41 | 1468762 citrine
citrine's picture

There are no tyrants where there are no slaves.

 

Jose Rizal


Mon, 07/18/2011 - 23:33 | 1469052 chet
chet's picture

Can anyone here tell me:

1)  One CONCRETE thing that Obama has done that is "anti-business"?

2)  Actual examples of him using the term "redistribution"?

I'm not asking about your personal opinions of the man, I'd like concrete examples.

Tue, 07/19/2011 - 00:54 | 1469225 RockyRacoon
RockyRacoon's picture

Lotsa junks (none mine) but no replies.  I guess they are still scouring The Google for answers.  Might take a while.

Tue, 07/19/2011 - 01:10 | 1469248 SilverRhino
SilverRhino's picture
  • ObamaCare
  • The bailout of GM and the gutting of that company assets in favor of unions instead of following the law with respect to bankruptcies.

#2: Do your own research on that; one too many quotes to pick and choose from.

Tue, 07/19/2011 - 10:27 | 1469989 DR
DR's picture

Partly right-GM was also bailed out so broke banks didn't have to pay off credit protection.

Tue, 07/19/2011 - 01:14 | 1469255 nobita
nobita's picture

Heh two people junk you without giving you a source. Ill give you an example thou, he overrode bankrupcy law in the Chrysler bankrupcy thereby screwing bondholders to benefit United Auto Workers, too lazy to find link but was written about here on zerohedge(where else? still the greatest site in internet history bitches!) back in the day. Thats when people who pay attention realized fully that the rule of law is dead, if they hadn't already.

Tue, 07/19/2011 - 07:50 | 1469500 francis_sawyer
francis_sawyer's picture

Can anyone here tell me:

1)  One CONCRETE thing that Obama has done that is "anti-business"?

---

he got elected

Tue, 07/19/2011 - 09:15 | 1469707 -Michelle-
-Michelle-'s picture

2)  Actual examples of him using the term "redistribution"?

http://www.youtube.com/watch?v=iivL4c_3pck&feature=player_embedded#at=121

Mon, 07/18/2011 - 20:27 | 1468541 Alcoholic Nativ...
Alcoholic Native American's picture

"I believe in Las Vegas, I think its best days are ahead of it"

WTF?

Mon, 07/18/2011 - 20:42 | 1468588 PuppetRepubl1c
PuppetRepubl1c's picture

of course he said this, he has to feed the shareholders some treats or they will panic like they should!  

 

Who in their right mind thinks investing in high end hospitality is a good investment in an ongoing depression?  Those investors are fools, they should take their money out of WYNN and invest it in businesses that thrive in depressions (or just put it in gold)

 

Mon, 07/18/2011 - 22:26 | 1468899 Ying-Yang
Ying-Yang's picture

"Wynning!"

Tue, 07/19/2011 - 06:56 | 1469446 tgmur10
tgmur10's picture

+1

Mon, 07/18/2011 - 20:29 | 1468548 Heroic Couplet
Heroic Couplet's picture

Didn't Wynn's casino go bankrupt this past year? and Barack Obama's reasponse is probably a yawn and "Steve Who?" if he notices at all. I remember when Steve spoke at some event or other and a Republican pal came in say "Oooh, Steve Wynn has the solution, yada yada yada." When I looked at Steve's transcript it was same old same old Neocon baloney.

Mon, 07/18/2011 - 21:48 | 1468783 MayIMommaDogFac...
MayIMommaDogFace2theBananaPatch's picture

Nobel Peace Prize, bitchez!

Mon, 07/18/2011 - 20:30 | 1468550 Motorhead
Motorhead's picture

What happens in Vegas, stays in Vegas, hehe.

Mon, 07/18/2011 - 20:30 | 1468551 caerus
caerus's picture

Afraid?!  Of risk!?  Sounds like the ideal gambler.  Never trust a man who pokes a hole in a picasso.

Mon, 07/18/2011 - 20:30 | 1468552 Mae Kadoodie
Mae Kadoodie's picture

Wynning.

Mon, 07/18/2011 - 20:41 | 1468583 GetZeeGold
GetZeeGold's picture

 

I give you a solid 9 nine for that......had been preceded by a BOOM....Wynning....it would have been a perfect 10.

 

 

Mon, 07/18/2011 - 20:49 | 1468610 caerus
caerus's picture

stuck the landing

Mon, 07/18/2011 - 20:56 | 1468633 buzzsaw99
buzzsaw99's picture

omg hahahahahaha

Mon, 07/18/2011 - 21:50 | 1468790 MayIMommaDogFac...
MayIMommaDogFace2theBananaPatch's picture

+100 poker-chip

Well-fucking played!

Mon, 07/18/2011 - 20:32 | 1468556 ads56
ads56's picture

This coming from a man who  buys 4 vases for $12.7 million dollars.

Mon, 07/18/2011 - 21:27 | 1468600 GetZeeGold
GetZeeGold's picture

 

Please send me all your money....if I approve your purchase....I may send you some back to complete the transaction.

I'm guessing I won't be approving anything you want....and I'll be keeping your money.

 

 

Tue, 07/19/2011 - 11:53 | 1470473 vato poco
vato poco's picture

that came from a man who spent *his own money* on vases. soetoro spends YOUR money on things like his 'superfly badass birfday bash the on default d-day' and 'time fo' anothuh GOLFin trip!' adventures.

i don't love wynn, or trust him much. but HE's created more jobs by himself in one medium-sized city than soetoro has in the whole damn country. tell you what, ace: lets do an experiment. I'LL put all MY money in wynn stock, and YOU put all YOUR money in FRN's. then let's leave 'em in a safe-deposit box for 5 years. at the end of the 5 years, whoever makes out best wins. care to take that bet? no? why not?

Mon, 07/18/2011 - 20:32 | 1468557 BayAreaAlan
BayAreaAlan's picture

Prediction: Wynn will be investigated for an obscure crime by the DOJ within 12 months. History rhymes with _Atlas Shrugged_, where the government can always find you guilty of something. Especially if you speak ill of them.

Mon, 07/18/2011 - 21:07 | 1468673 Whalley World
Whalley World's picture

Ayn Rand was a prophet.  The book forsees this administation like no other.

Mon, 07/18/2011 - 21:29 | 1468731 Founders Keeper
Founders Keeper's picture

[Ayn Rand was a prophet.  The book forsees this administation like no other.]---Whalley World

Hi Walley.

No need for "prophets." One need only look to the past with a keen eye to human nature. History exposes human nature.

(No offense to Ayn Rand.)

 

Mon, 07/18/2011 - 22:03 | 1468838 KeyserSoze
KeyserSoze's picture

Ayn Rand would probably have loved the current climate. The small man gets shafted, because in her view they're stupid and deserve it. All the whilst Corporations and governments make all the money.

Apart from Obama's socialistic policies regarding Health Care, she'd probably praise him for everything else the man has done.

Mon, 07/18/2011 - 22:25 | 1468897 So Close
So Close's picture

 What book did you read.   Definitely not Rand.

Mon, 07/18/2011 - 23:14 | 1469007 JohnG
JohnG's picture

No.  The "small man" is the champion.

Obama just kissed the right asses.

THAT is the difference.

Mon, 07/18/2011 - 23:38 | 1469067 Böhm_Bawerk
Böhm_Bawerk's picture

"William F. Buckley would probably have loved the current climate...."

Fixed that for you.

 

Tue, 07/19/2011 - 02:55 | 1469316 New World Chaos
New World Chaos's picture

Except she never mentioned the Federal Reserve, or fractional-reserve banking, or the NWO, or fraud as Wall Street's business model, or the military-industrial complex and its endless wars, or what makes gold special (ridiculously high stocks/flows).  One of her heroes was a banker.  None of her heroes got corrupted by money or power.  She had way less violence than what is coming, and she avoided this by invoking a cloaking device so that Galt's Gulch wouldn't get sacked by the Army.  She didn't seem to understand that the free market doesn't exist and capitalism is a good breeding ground for sociopaths.  She considered selfishness to be a virtue and generally neglected the need to build community ties to fight the looters (yes I know it should be voluntary, yadda yadda, still I think it was missing).  But despite all this, Atlas Shrugged is on the must-read list for this decade.

Tue, 07/19/2011 - 00:43 | 1469207 LetThemEatRand
LetThemEatRand's picture

Hey cultist ass clowns.  L. Ron Hubbard wrote a book for you too.  Hey, there's some Kool-Aid over there that Ayn thinks you should drink.  Please do us all a favor.  Or think for yourselves for once, and go somewhere else.

Tue, 07/19/2011 - 02:17 | 1469317 John_Coltrane
John_Coltrane's picture

Better check your premises.  Now off you go to HuffPo to restock your "ideas" troll. 

Axiom 1:   The eternal struggle is always between the individual (the engine of all ideas and human progress) and the collective.

Axiom 2:  The collective seeks complete control by centralizing power and limiting freedom.

Mon, 07/18/2011 - 20:35 | 1468558 russwinter
russwinter's picture

These kleptocrats and corporatists are getting the greatest tax breaks in history, and this greedy bastard whines. 

 


Corporations and Plutocrats Given a Tax Holiday as US Heads for Fiscal Trainwreck

http://www.wallstreetexaminer.com/blogs/winter/?p=3868

 

Mon, 07/18/2011 - 20:33 | 1468560 WonderDawg
WonderDawg's picture

He speaks the truth, at least from my perspective. I have experience and know-how in my chosen industry, and enough capital to start my own business, but I'm not going to invest my capital in a new business venture in this environment. I'll keep working as an independent contractor as I am now, making substantially less than I could as a business owner, and keep sitting on my dry powder until the time is right. And that sucks, because right now I'm at the height of my powers with regard to business acumen, energy, and ability to see the big picture, and I could make a damn good go of it as an entrepreneur, but it's the big picture that keeps me sitting on the sideline.

Mon, 07/18/2011 - 21:14 | 1468694 jimijon
jimijon's picture

ditto

Mon, 07/18/2011 - 20:33 | 1468561 lieutenantjohnchard
lieutenantjohnchard's picture

glad you published the information. i gave it 5 star. it''s obviously true.

Mon, 07/18/2011 - 20:34 | 1468563 sabra1
sabra1's picture

oh man, now they're gonna suicide him! oh well. you wynn some, you lose some!

Mon, 07/18/2011 - 20:34 | 1468564 buzzsaw99
buzzsaw99's picture

sitting on their thumbs? he really said that? did he mention rotation? the best and brightest? meh

Mon, 07/18/2011 - 20:35 | 1468567 Global Hunter
Global Hunter's picture

So will he be accused of rape next week or just be found face down in his living room and it is reported to be of natural causes and that he was a drug addict?

Mon, 07/18/2011 - 20:36 | 1468571 syvanen
syvanen's picture

What utter partisan crap.  Is he saying he would invest in LV if a more business friendly president was in office.  Build more housing? Build another hotel/casino?  He knows that market, he is simply lying.

Mon, 07/18/2011 - 20:40 | 1468580 Global Hunter
Global Hunter's picture

He says he supports Democrats and Harry Reid and himself is a Democrat.  

Mon, 07/18/2011 - 22:12 | 1468862 ViewfromUnderth...
ViewfromUndertheBridge's picture

and that prevents him lying?

Tue, 07/19/2011 - 00:04 | 1469114 StormShadow
StormShadow's picture

Harry Reid is a complete ****ing moron. Can I get an Amen?!

Tue, 07/19/2011 - 00:43 | 1469204 TBT or not TBT
TBT or not TBT's picture

He's anti-American and an embarassing traitor to the Constitution, but his IQ is probably above average. Also, he got what he wanted for four years straight under the traitorous Pelosi-Reid regime in Congress, with two years of that veto-free thanks to Obama. So he has been effective at advancing what he wants.

Mon, 07/18/2011 - 20:56 | 1468632 DonnieD
DonnieD's picture

Agreed. That was a pointless and childish rant. It sounds like something that I'd hear from a Republican hack on Hannity.

And I think Obama is a horse's ass.

Mon, 07/18/2011 - 21:37 | 1468751 Pladizow
Pladizow's picture

He's a billionaire - his words mean alot.

Mon, 07/18/2011 - 23:02 | 1468983 snowball777
snowball777's picture

Not to the unemployed people of Las Vegas.

Mon, 07/18/2011 - 20:36 | 1468572 RmcAZ
RmcAZ's picture

He lost me at "I believe in Las Vegas" and lost me again at "I support Democrats and Republicans".

Mon, 07/18/2011 - 20:45 | 1468573 lawrence1
lawrence1's picture

Another ranting businessman with two neurons firing. No real difference between this and the last administrations.... a huge sucking sound of wealth going to the top. Why all this blame on Obama only, as if he created the whole kleptocracy.  Obama has bent over backwards for the corporate kleptocracy.  Just got to be to big to fail.  Like a good puppet, he´s keeping it going ... until it collapses, which could be very soon. And, hey, the Las Vegas pawn shops are going great guns ... just got to jump on the right train.

Mon, 07/18/2011 - 20:48 | 1468606 buzzsaw99
buzzsaw99's picture

+1 the zombie apocalypse will take care of him.

Mon, 07/18/2011 - 21:22 | 1468713 papaswamp
papaswamp's picture

cardio!

Mon, 07/18/2011 - 21:36 | 1468747 NuckingFuts
NuckingFuts's picture

+ Double Tap!  It's time to nut up or shut up.

 

Mon, 07/18/2011 - 20:42 | 1468584 billwilson
billwilson's picture

Like we want to listen to a guy who runs a casino on how to run a country. I think not.

Mon, 07/18/2011 - 20:46 | 1468602 Dr. Porkchop
Dr. Porkchop's picture

Except it is run like a casino... this guy's an expert!

Tue, 07/19/2011 - 00:07 | 1469124 StormShadow
StormShadow's picture

Yes, a casino with loaded dice that is.

And that's evil dr. Porkchop, no?

Mon, 07/18/2011 - 21:50 | 1468789 FreedomGuy
FreedomGuy's picture

Yeah, neve listen to people who run businesses successfully by making customers happy. Listen to the redistributionist-statist-collectivists who make the State happy. They have a long record of success and should never listen to anyone who knows anything about capital formation and investing.

They should just take Wynn's money and do something better with it, don't you think?

Mon, 07/18/2011 - 22:13 | 1468864 Dr. Porkchop
Dr. Porkchop's picture

Don't hate the playa, hate the game baby!

Mon, 07/18/2011 - 20:46 | 1468585 Paul Thomason
Paul Thomason's picture

Big comments from a big man whose business model revolves arounds preying on peoples weakness - ruining lives and destroying families.

Yep, we should listen to him - he's got his morals in the right place.  

Slime.

Mon, 07/18/2011 - 20:52 | 1468611 bob_dabolina
bob_dabolina's picture

Yea! weakness! 

People don't destroy their lives, casinos do!

"California welfare recipients using state-issued debit cards withdrew more than $1.8 million in taxpayer cash on casino floors"

http://articles.latimes.com/2010/jun/25/local/la-me-welfare-casinos-20100625 

Your dick breath stinks. 

Mon, 07/18/2011 - 20:59 | 1468642 lawrence1
lawrence1's picture

What stinks is your bottomless ignorance.  Go study the research of decades showing that the presence of organized gambling is almost always related to social and economic disintegration of communities.

Mon, 07/18/2011 - 21:26 | 1468707 bob_dabolina
bob_dabolina's picture

So the social and economic disintegration of communities is caused by gambling? 

Why don't you look at diversity of races for a more compelling correlation. 

gamble:

a : to play a game for money or propertyb : to bet on an uncertain outcome

http://www.merriam-webster.com/dictionary/gamble?show=0&t=1311038069

Have you ever purchased an asset hoping it would go up in value instead of down? If so, you're by definition a gambler. 

Investor: 

: to commit (money) in order to earn a financial return

: to make use of for future benefits or advantage

Humans are programed to gamble. The ability to categorize risk and ascertain how to allocate your resources is a gamble. If some choose to do so on craps/black jack than that is not an issue of "gambling" it is an issue of how people choose to gamble. 

What's the difference between Detroit and Vegas? 

Mon, 07/18/2011 - 23:19 | 1469018 JohnG
JohnG's picture

800 miles?? or so?

Mon, 07/18/2011 - 23:59 | 1469107 lawrence1
lawrence1's picture

Yes, social and economic disintegration usually follows

the introduction of casinos and gambling... this from dozens of studies throughout the US for decades.  The ability to categorize risk and ascertain how to allocate your resources is not gambling ... it just isnt, obviously, risk free. Plugging dollars in a slot machine is gambling and any honest person recognizes that difference. And businesses that cater to this disposition in people are predatory. On the one hand you say people are programed to gamble, then you say people should be able to choose intelligently. But the whole purpose of marketing is to induce people to make irrational choices and casinos and gambling do the utmost, and are quite successful obviously,

in encouraging self'destructive behavior.  If you approve of that in the name of ¨free will¨or self responsibility, that ok, but dont give us the wall street bullshit about categorize risk and allocating your resources.

 

Tue, 07/19/2011 - 00:47 | 1469215 bob_dabolina
bob_dabolina's picture

"this from dozens of studies throughout the US for decades"

I found a study that said you're an asshole. 

With that being said, stop blowing shit in our face.

Tue, 07/19/2011 - 00:47 | 1469216 bob_dabolina
bob_dabolina's picture

"this from dozens of studies throughout the US for decades"

I found a study that said you're an asshole. 

With that being said, stop blowing shit in our face.

Tue, 07/19/2011 - 02:36 | 1469334 John_Coltrane
John_Coltrane's picture

Let's be honest, both state gambling via lotteries and private gambling via casinos and bookies are just taxes on stupidity.  It might be difficult to tax it directly so this indirect tax works quite well.

To illustrate:  The American Physical Society once held its national meeting in Las Vegas because of low food and lodging costs.  The casinos lost so much money due to physicists lack of gambling participation that APS was invited never to return.  And they didn't.

Mon, 07/18/2011 - 21:55 | 1468806 FreedomGuy
FreedomGuy's picture

I will do that as soon as you read about the centuries of study showing the disintegration of entire nations is related to the unfettered power of the State and central planners.

At least participation is optional in gambling.

I also think food is related to obesity and sex is related to prostitution, smoking is related to COPD, alcohol is related to addiction and...well, let's ban them all.

We never realize that centralized power is perfectly correlated to tyranny. How about we ban centralized power? 

Mon, 07/18/2011 - 22:23 | 1468832 bob_dabolina
bob_dabolina's picture

Yes! Using his logic, sex causes A.I.D.S and thus if we could just regulate sex than we can cure A.I.D.S.

I am on board with banning centralized power. 

Mon, 07/18/2011 - 22:09 | 1468856 hedgeless_horseman
hedgeless_horseman's picture

If we only had more laws, and the government had more control, then everything would be better.

Tue, 07/19/2011 - 02:40 | 1469336 John_Coltrane
John_Coltrane's picture

And let me add the desireability of perpetual (frictionless) motion as a solution our energy resource problem.  And why can't we reduce entropy without doing any work-that damn second law to sooooo inconvenient.

Mon, 07/18/2011 - 22:06 | 1468843 Paul Thomason
Paul Thomason's picture

Sorry mate, no offense intended.

I just don't like people who make their living at the deliberate misery and expense of others.  That's my choice - doesn't have to be anyone else's.

take it is easy.

Mon, 07/18/2011 - 22:22 | 1468888 Kali
Kali's picture

Excuse me?  That would be lawyers, doctors, bankers, insurance companies.  Nobody forces anyone to sit down at a slot machine or a card table.  You are a fool and dangerous.

Tue, 07/19/2011 - 08:55 | 1469644 fiftybagger
fiftybagger's picture

"You are a fool and dangerous"

Indeed, +2

Mon, 07/18/2011 - 22:39 | 1468916 bob_dabolina
bob_dabolina's picture

Ay mate, you're forgetting that people have a choice. 

No one put a gun to the head of the guy who through his life savings on the roullette wheel. No one put a gun to the head of the guy who bought a home he couldn't afford. No one put a gun to the head of the guy who maxed out his credit card. No one put a gun to the head of the guy who followed Dick Boves advice and bought Lehman stock days before it went bankrupt. 

People need to accept responsibility for their own actions and stop blaming others.

People have the right to be as miserable as they choose. 

Mon, 07/18/2011 - 22:46 | 1468945 karzai_luver
karzai_luver's picture

Wynn had no gun at his either.

If he doesn't like it now then sell.

Let someone that has some balls run the place.

 

Vegas was a disaster waiting to happen for at least 15 years.

 

Mon, 07/18/2011 - 22:58 | 1468974 Kali
Kali's picture

No fixin that place.  And, yes, it's been a disneyland-for-stupid-adults-dump for decades now.

Mon, 07/18/2011 - 23:19 | 1469020 bob_dabolina
bob_dabolina's picture

You fuckin' idiot. He is running the place. 

Why do you think he is expanding in Asia and NOT in America? 

If you don't get it read his missive. It's at the top of the page.

Tue, 07/19/2011 - 02:15 | 1469314 Paul Thomason
Paul Thomason's picture

Ah yes, if only life were that simple.

As I've got a little older, wiser and fatter I have become responsible for the lives of several impressionable little people as well as a couple naive older people and it has given me perhaps a different perspective on peoples conduct and the impact of their behaviour on others.

The bloke (Wynn) is IMHO a parasite on good society whose actions directly result in lives and families being ruined - if that's your cup of tea that's up to you.  It aint mine.

Best of luck.

Tue, 07/19/2011 - 09:00 | 1469660 fiftybagger
fiftybagger's picture

Then you are free to not patronize his business.  Maybe you should spend some more time educating that ignorant brood of yours rather than trolling on Zerohedge.  I for one like to visit a nice casino once and a while.  Take your nanny state and %^%&^*()

Mon, 07/18/2011 - 22:37 | 1468924 IQ 145
IQ 145's picture

 They had a weight lifter for a Governor. What a joke.

Mon, 07/18/2011 - 20:58 | 1468641 DonnieD
DonnieD's picture

For a second there, I thought you were referring to Obama.

http://www.cbsnews.com/8301-503544_162-20078789-503544.html

Mon, 07/18/2011 - 20:43 | 1468591 Eireann go Brach
Eireann go Brach's picture

Steve Wynn has a right to bash the president and has a damn right to discuss how business should operate in this country, the man is a self made billionaire! And quite frankly will see more wealth in a month hit his bank account than the majority of people on this page combined will see in a lifetime who are criticizing him!

Mon, 07/18/2011 - 20:55 | 1468620 GetZeeGold
GetZeeGold's picture

 

Steve Wynn has a right to bash the president

 

What the hell is going on here....they haven't revoked the First Amendment yet? Barry is total epic, retard fail.

 

Mon, 07/18/2011 - 20:54 | 1468625 lawrence1
lawrence1's picture

Yeah, he´s probably stupid enough even to run for president and be be elected

as Lead Puppet.

 

Mon, 07/18/2011 - 20:57 | 1468636 GetZeeGold
GetZeeGold's picture

 

Yeah, he´s probably stupid enough even to run for president and be be elected.

 

Yeah, he´s probably stupid enough even to run for president...a second time. and NOT be elected

 

Mon, 07/18/2011 - 21:05 | 1468665 lawrence1
lawrence1's picture

At least Obama is not an idiot.  Not much consolation, but some, especially if you live abroad and feel embarrassed that someone like Bush could be appointed Lead Puppet.

His only talent was for putting his foot in his mouth every fifth step.

Mon, 07/18/2011 - 21:12 | 1468685 GetZeeGold
GetZeeGold's picture

 

someone like Bush could be appointed Lead Puppet.

His only talent was for putting his foot in his mouth every fifth step.

 

Here's a newsflash....Bush has been gone for like three years now......yeah.......really.

At least Bush just stuck his foot in his mouth.....your guy is nuking the entire country.

 

Tue, 07/19/2011 - 00:05 | 1469117 lawrence1
lawrence1's picture

Poor little dummy, just couldnt help himself from mis-speaking. Didnt lie about Iraq and get us in the quagmire. 

Mon, 07/18/2011 - 22:06 | 1468844 SilverIsKing
SilverIsKing's picture

You are a complete idiot. Your defense of Obama is built upon disparaging Bush. I'm not defending Bush though. I'm just calling you an idiot.

Tue, 07/19/2011 - 09:05 | 1469680 fiftybagger
fiftybagger's picture

"At least Obama is not an idiot"

 

Maybe he is, maybe he's not.  I wouldn't know because I'VE NEVER READ ONE THING HE'S EVER WRITTEN.  Information about that guy's past is locked up tighter than the vault in Wynn's casino.

Mon, 07/18/2011 - 22:21 | 1468886 ViewfromUnderth...
ViewfromUndertheBridge's picture

if only we had more Steve Wynns... http://www.investingvalue.com/investment-leaders/steve-wynn/index.htm

does it occur to you that this sort of "progress" might not be a model for the future but is indicative of excesses of the past and is therefore part of the problem?

fucking leprechaun.

oh, for balance...fuck Obama too.

Mon, 07/18/2011 - 20:44 | 1468593 francis_sawyer
francis_sawyer's picture

WYNN is still miffed that he didn't get asked to be on Obamas "Economic dream team" in 2008...

He'll have to console himself with the idea that RoboTrader is as bullish on his stock as Bove is on BAC...

Mon, 07/18/2011 - 22:39 | 1468930 IQ 145
IQ 145's picture

 blowing beer out my nose. Very funny. I hope Robo Trader goes back to her old bra in her avatar; I liked it better.

Mon, 07/18/2011 - 20:45 | 1468595 Dr. Porkchop
Dr. Porkchop's picture

I wonder if this guy is as full of shit as he sounds.

Mon, 07/18/2011 - 20:45 | 1468599 SRV - ES339
SRV - ES339's picture

A bit of a stretch Tyler... Steve Wynn leading the Obama bashing at ZH today... lol!

Talk about scraping the bottom of the barrel (but I have to admit at least his casino business, unlike Wall St, is transparent about their gambling).

Mon, 07/18/2011 - 20:49 | 1468608 ceilidh_trail
ceilidh_trail's picture

I have 30 years in the healthcare industry, friends in real estate management, insurance, civil engeneering, etc. Mr Wynn says what I hear locally. People are waiting the Oboy out. When he goes, things WILL bounce. Nobody wants open ended liability re obamacare, tax increases, tax law changes, punitive gov't audits, etc,etc...

Mon, 07/18/2011 - 21:08 | 1468676 lawrence1
lawrence1's picture

Right, when Obama goes, things WILL bounce?.  As they bounced under Bush?  My God, the depth of political and economic ignorance here is truly astounding.

Mon, 07/18/2011 - 21:14 | 1468697 SRV - ES339
SRV - ES339's picture

Get with the program Lawrence... in ZH land everything is Obama's fault and once he's gone, it's all lollipops and rainbows... Tyler said so, so it must be true!

Mon, 07/18/2011 - 22:25 | 1468896 ViewfromUnderth...
ViewfromUndertheBridge's picture

fuck 'em all back to Ike...

http://www.americanrhetoric.com/speeches/dwightdeisenhowerfarewell.html

it all came true.

Tue, 07/19/2011 - 02:51 | 1469345 John_Coltrane
John_Coltrane's picture

Wrong timeframe:  like they bounced after Carter (double digit interest rates, inflation and unemployment) under Reagan (all low single digits).  That's the analogy you're seeking.  Reagan set the stage for 18 years of expansive economic growth (1982-2000).  Animal spirits matter.  If you penalize risk taking, people won't take risks.  If you reward failure like Bush did and Obama continued to do by bailing out the banking, insurance and automotive sectors you misallocate capital.

Mon, 07/18/2011 - 21:13 | 1468691 Piranhanoia
Piranhanoia's picture

Thanks for admitting you have a problem.  There is this robot trader you will like here.

Mon, 07/18/2011 - 22:08 | 1468852 jdh2358
jdh2358's picture

Do you think Google, Apple and Berkshire are waiting til Obama's out too?   Obama is almost certainly going to be re-elected in 2012 --- he is one of the most talented politicians in a generation and the republicans have noone who can challenge him currently.  Your friends may have a long wait ahead of them.

Tue, 07/19/2011 - 00:18 | 1469155 StormShadow
StormShadow's picture

+1 Obama is a complete moron, yes, but who are er putting up to run against him? There is no one in the current pool who can beat him. Way I see it best hope is that he beats himself by continuing to run the economy into a shambles. And, no, the economy will not just bounce back if he is ousted. Too much damage has already been caused by him and prior admins. The dollar is screwed at this point.

Mon, 07/18/2011 - 22:47 | 1468950 IQ 145
IQ 145's picture

 I hear you, and I hear the same thing; but; it's a big but, how the fuck do we dismantle obummercare? Tax increases? Oh, that'll be so swell in a depression; yeah that's going to work really well. The govn. has grown like a cancer, in my lifetime, which admittedly has been too long,(I'm working on it), and it's just too frigging big. I mean, I could fix this thing and get everything on the upward path but I'd have to have dictator powers. You have to eliminate all the alphabet soup; the EPA, the DEA, yadda, yadda, evict the UN from  their building and rent it out, and shut down the money flow to China; no chinese imports; nothing; nada. sayonara, best of luck; we'll make it here, thanks anyway, and no one can do this. Very, very few people even understand that this is the problem. Ah well, thank God for Becks.

Mon, 07/18/2011 - 20:50 | 1468609 Caviar Emptor
Caviar Emptor's picture

Everyone talking their book ..... this isn't Wynn's first anti-Obama rant. It started in 2009. So hard to be convinced this is purely based on business considerations. 

Mon, 07/18/2011 - 21:06 | 1468669 GetZeeGold
GetZeeGold's picture

 

Everyone talking their book ..... this isn't Wynn's first anti-Obama rant. It started in 2009.

 

So basically Wynn has proved himself to be a genius for the past two year.....impressive.

 

Mon, 07/18/2011 - 22:51 | 1468956 IQ 145
IQ 145's picture

 Dude, Harry Reid is a fucking disaster; and this is a political rant; it's propaganda taking advantage of the present, "temporary" economic "slowdown", hee, hee. Nobody who admits they vote for Harry Reid has any cred. at all with me; he's just not acceptable.

Tue, 07/19/2011 - 00:22 | 1469165 StormShadow
StormShadow's picture

+1600

And don't get me started on Pelosi either. That witch **nt is the devil incarnate. The people that vote for her need to be admitted to the looney bin. WTF, over.

Mon, 07/18/2011 - 20:51 | 1468615 buzzsaw99
buzzsaw99's picture

the service in las vegas has gotten so bad i won't be back.

Mon, 07/18/2011 - 22:52 | 1468963 IQ 145
IQ 145's picture

 I was there once, I think I was eleven. My Uncle Bill took me to see it on an Airplane with big propellors. When we came back he let me have several "Silver Dollars", which fascinated me. I've never seen the place since then.

Tue, 07/19/2011 - 15:25 | 1471485 Dr o love
Dr o love's picture

If you think Vegas is bad...

 

I just returned from a short stint in Atlantic City.  What a rat hole.  That place should be bulldozed and replaced by sand.

Mon, 07/18/2011 - 20:51 | 1468617 RobotTrader
RobotTrader's picture

WYNN is hands down one of the most successful retail/consumer stock runs in history.

$18 and near bankruptcy in 2009 to $165 at today's close.

And up another $4.40 after hours.

http://bigcharts.marketwatch.com/charts/big.chart?nosettings=1&symb=wynn...

 

Mon, 07/18/2011 - 21:00 | 1468644 buzzsaw99
buzzsaw99's picture

a p/e of 70 is yet another tribute to the idiocy of compulsive gamblers.

Mon, 07/18/2011 - 22:54 | 1468965 IQ 145
IQ 145's picture

 Dear, what goes up comes down. That's why uplift bras were invented; capice?

Mon, 07/18/2011 - 20:52 | 1468619 poor fella
poor fella's picture

Sounds like a fucking pussy who can't make a business decision unless the future is handed out to him in writing..

Tue, 07/19/2011 - 01:04 | 1469241 RockyRacoon
RockyRacoon's picture

Steve is just pissed 'cause he didn't get Jeff Immelt's current job as brown-noser.

Tue, 07/19/2011 - 01:17 | 1469259 poor fella
poor fella's picture

yeah, junk me you fucking cunts. What do you stand for? Some pathetic little bitch that might make you 80 bucks?

Mon, 07/18/2011 - 21:00 | 1468643 monopoly
monopoly's picture

As a long, long time resident of Nevada I assure you Las Vegas "best days" are not ahead, they are way behind. When I go to a restaurant in a casino, (all restaurants non smoking), most of the time it is old people wasting their social security check on the slots. Sad faces, they keep putting their money in, hoping for that big payoff which never comes. Las Vegas overdid it big time. Outside the 6 block strip it is a depression. Whole housing complexes sit empty or are just shells. Blocks and blocks of unfinished homes. Unemployment rate is the highest in Nevada and close to the highest in the nation.

And just across the border in insolvent CA. their are some of the finest Indian casinos that cater to the real gambler. No need to go to Vegas, unless for the shows and girls. Nevada is near a depression and Las Vegas is not coming back.

And, some of the best clients from Asia that waste big dollars, well why bother, Macao is rocking just 3 hours or so from most Asian capitals. Las Vegas is done, remember we have Harry Reid who never helped diversify our state 20 years ago because he needed millions which he got. I wonder how.

Mon, 07/18/2011 - 21:05 | 1468664 buzzsaw99
buzzsaw99's picture

word

Mon, 07/18/2011 - 22:57 | 1468973 IQ 145
IQ 145's picture

 as you say; word. Harry Reid makes Nixon look good, and that's not easy.

Mon, 07/18/2011 - 22:29 | 1468907 Kali
Kali's picture

Yup.  Vegas is the tackiest place anymore,  Reno reminds me of Gary IN.  Drunks puking on the street in front of boarded up buildings, peeing and crapping in the alley.  Yeah, I want to go there.  If I want to gamble, I go to nice places close to me that are in the mountains, on the ocean.  Where they still comp the average player a meal or a drink or a room.  Vegas and Reno both  blew it.

Mon, 07/18/2011 - 23:08 | 1468993 IQ 145
IQ 145's picture

 Gary, In.! OMG. That's a nice picture you paint, alright. I've never been to Reno, but I passed through Gary, In. Sheesh. I was in Erie, Pa. and the people who lived there called it the "mistake by the lake"; everyone was depressed. I was there to pick up a classic American Schooner Yacht, 54'. I thought, wow what a place to live; and then there was Detroit; even then! 35 years ago. This is not the heartbeat of a triumpant nation; it might be the heartbeat of America, but it's not that of a triumphant nation. I especially liked the snow, which came down grey; pre polluted. Absolutely terrific place to hang out.

Mon, 07/18/2011 - 21:00 | 1468645 SAME AS IT EVER WAS
SAME AS IT EVER WAS's picture

Look at the stock! All (accounting) I mean earnings driven Im sure, but the price speaks for its self. What do you really have to bitch about, is the economy really that bad Steve-o?

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