Posted on 10/22/2011 4:46:17 AM PDT by Kaslin
Earlier this year, casino magnate Steve Wynn ripped Obama in conference call with shareholders and analysts (Wynn CEO Goes On Epic Anti-Obama Rant On Company Conference Call) saying:
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 3 hours giving you examples of all of us in this market place that are frightened to death about all the new regulations, our healthcare costs escalate, regulations coming from left and right. A President that seems, 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 are 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.
It's worth noting that Wynn says he's a Democrat and supported Harry Reid in the last election.
See: You CAN sometimes learn things about companies when you listen to earnings calls. Here is the latest from Steve Wynn's newest conference call ($WYNN).
At 4:05 Wynn says, “Optimism in China and Pessimism in America”. He is referring to his casino business.
But later at 45:06 he reflects on Occupy Wall Street and big government. Among other things, he says (47:07),
I am watching my employees standard of living drop off because of deficits. I think that the American public is beginning to make the connection between deficits and their own loss of the standard…
I say right now that the Democratic agenda of spend and bribe the public has bankrupt this country, and until it stops, the citizens of this country are in for more hard times. And fancy speeches aren’t going to change that. Only a fundamental realization that citizens are going to have to take real, sophisticated responsibility for how we allocate the resources of this country.”
I am watching my employees standard of living drop off because of deficits. I think that the American public is beginning to make the connection between deficits and their own loss of the standard.
People are being paid in dollars on the way to 7 cent dollars, and answer though I have given two cost of living increase toss my employees, I’m upgrading losses in America, plus I’ve been able to get some money from the cap. I have not been able to keep up with the effect of deficits on the living standard of my employees.
The net result of all of this is frustration, anxiety, and anger. You’re seeing that on Occupy Wall Street. You can see it taken to the next level in Greece where people are trying to break into a parliament, primarily controlled by the unions. There comes a moment when the population realizes that it has to stop and sometimes it takes a form of tax the rich people which is, you know, a reflection more of a lack of understanding of how the economy works.
After listening to this call, I don’t think there is any doubt over where Steve Wynn sees growth, and where he will be investing his shareholder money.
The opportunity costs of investing in Nevada-which has a 0% tax rate-are too high. Why? Regulation, big government, and poor fiscal management by government agencies.
Some earnings calls are enlightening
Steven Wynn and most of the other casino big wigs have already moved tons of money offshore. After 300 years, the former Portuguese colony of Macau reverted back to China, and it’s become the Las Vegas of Asia, a boom town on the Chinese coast.
I always thought that Wynn was a Republican......his support of Obama in 2008 left me shaking my head in surprise and disgust. If you lay down with dogs, don’t be surprised when you get fleas.
” Steven Wynn and most of the other casino big wigs have already moved tons of money offshore. After 300 years, the former Portuguese colony of Macao reverted back to China, and it’s become the Las Vegas of Asia, a boom town on the Chinese coast.”
I was living in Asia in 2003, when Wynn was the first American to be granted a gaming lic. in Macao.
His support for Reid I would bet the farm has to do with protection money
Wynn is one of the most savy business people in this country. He built a huge empire from a small downtown casino/news-stand.
He started moving capital out of the country before the obama regime came into play.
Go search for Trumps campaign donations to Reid
Donald Trump’s Donations to Democrats
http://www.freerepublic.com/focus/news/2703298/posts
Senate Majority Leader Harry Reid (D-Nev.) has received the fourth-largest amount of Trump’s contributions, including $4,800 in the successful 2010 campaign against Tea Party favorite Sharron Angle. In total Trump has contributed $10,400 to Reid.
In 2010, Trump also contributed $4,000 to Sen. Chuck Schumer (D-N.Y.), who easily won re-election. Schumer has received $8,900 from Trump since the 1996 election cycle. Trump has also been generous to New York’s other Democratic U.S. senator, Kirsten Gillibrand, who’s received $5,850 in Trump money.
Thanks for the input on Trumps Dem contributions.
I’m a little concerned that Turmp may be the badly needed 3rd party candidate that Obama has lined up. Huntsman may have been on the short list as well but he has presumably been scratched due to his 1% showing in the GOP primaries.
This whole thread highlights the problem with the American political system - Corruption. Follow the money.
IIRC Wynn and Reid have been friends for a long time, probably going back to the days when Prince Harry was not the liberal loon he is today.
Anyway, Wynn was on Cavuto's FBN show last night for most of the program. His main purpose was to convey the "Anybody but Obama" message, but he did mention, in response to a question, that the last time they spoke, Reid hung up on him.
Guess RATS don't take kindly to billionaires criticizing their stupidity.
the last time they spoke, Reid hung up on him.
______________________________________________________________
That shows that he has no class. I taught my sons from a young age that it is rude to ever hang up on anyone. End the call with a little “class” but it is rude to hang up on people.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.