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
Why attack Obama? Your stupid US Senator is bringing forth his agenda you dumb A$$. I like what he’s saying but he supports Reid.
Who is this “Reid Ally Wynn”?? And why do we care what he or she says?
Exactly right.
If this turkey is an ally of Harry Reid he is barking up the wrong tree.
He needs to straighten out his Senator .
Fancy? Really? I bet his speeches never exceed the 6th grade level.
Ah, I see, it’s Steve Wynn!
Wait, now who the hell is Steve Wynn?
Apparently some casino whore who has knee pads on for Harry Reid.
Again, why do we care?
Now, Fred Gwynn! I might care what he says!
Did anyone read past this line?
Supporting Harry Reid in 2010 is all I have too know about the judgement of Donald Trump.
>>Wait, now who the hell is Steve Wynn?<<
He can’t SEE that his support of Reid is a big part of the problem.
Exactly. This guy is stupid enough to pet scorpions then complain that he gets stung.
Sounds like his “casino magnatism” is something he didn’t come about by brains.
Yep. A lot of money people are waiting to see the outcome of the 2012 elections. If Obama & Co,. wins, much of that money & the associated jobs will reluctantly move offshore to more profitable economies. Expatriation of the rich may begin in earnest, as it has in Europe.
Obama & Co. are either the dumbest capitalists on the planet, or the cleverest Marxists, surpassing Lenin & Mao. I lean toward the latter.
It’s worth noting that Wynn says he’s a Democrat and supported Harry Reid in the last election.
It’s worth noting that Wynn is a friggin’ idiot... cry me a river you socialist-supporting nimrod.
I think everyone (including Wynn) who operates casinos in Nevada MUST say “I support Harry Reid,” OR ELSE they start having problems with their casinos and unions in Vegas.
Imagine operating a casino there, and coming out in public criticizing Harry Reid.
He’d shut you down, or make life so difficult you’d sell your casino.
Harry Reid is basically the “Democrat mafia,” plus he’s got the powers of the state’s Attorney General, the unions, the Gaming board, and the police.
Wow. Where did you hear that?
Certainly his business nose drifts to the right and his “business survival” tactics offer some cause to make you think why anybody would support a democrat. This election cycle may provide a way for business to transition from tax and bribe to a fairer more flat tax with less loopholes where business will have more fiscal certainty, less burdensome regulation, and a growth index which will encourage them bring their money in from the sidelines.
This is still the United States, not the “utopian” dictatorial tyranny so desired by the Demonrat politicians... Wynn bemoans the treatment he receives from the very people he supports! What he and others like him are doing is simply feeding the beast in the hopes that they will be eaten last; Wynn is like most business executives in the U.S. today - too gutless and scared to fight against the very governmental elitists that they themselves fund.
PING
In listening to Steve Wynn on Fox and Friends this morning, he seems to be very much a level-headed capitalist. His support for Reid I would bet the farm has to do with protection money, that is, donating in the hopes Reid would protect his Las Vegas interests from the normal plunder Reid advocates.
Well, then he sounds like a real dumb ass. You’re trying to put lipstick on a pig and it’s not working.
Steve Wynnwood should shut up and sing.
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