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CNBC: Obama Administration 'Greatest Wet Blanket' to Business: Wynn


NavyDave

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And he's is a Democrat who lines the pockets of team donkey with lots of greenbacks.

http://www.cnbc.com/id/43808793

Obama Administration 'Greatest Wet Blanket' to Business: Wynn

Published: Tuesday, 19 Jul 2011 | 10:48 AM ET

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By: Margo D. Beller

Special to CNBC.com

Wynn Resorts CEO Stephen Wynn used his company's conference call to lay into the Obama administration, calling it the "greatest wet blanket to business and progress and job creation in my lifetime."

Late Monday Wynn Resorts

That was a day after Wynn's conference call, a transcript of which was made available Tuesday.

"Everybody is so political, so focused on holding their job for the next year, that the discussion in Washington is nauseating."

Stephen Wynn, CEO, Wynn Resorts Ltd.

After taking questions about the company's earnings and expansion plans Wynn was asked by Deutsche Bank Securities analyst William Lerner about Las Vegas.

"I believe in Las Vegas," Wynn replied. "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."

He criticized the "total lack of leadership from the President, and nothing's going to 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."

The Wynn CEO said he and others are "frightened to death about all the new regulations," particularly the prospect of escalating health-care costs.

"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," he said, "and it makes you slow down and not invest your money."

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And he's is a Democrat who lines the pockets of team donkey with lots of greenbacks.

http://www.cnbc.com/id/43808793

Obama Administration 'Greatest Wet Blanket' to Business: Wynn

(1) According to the WSJ, Wynn Resorts' profits have increased by a good margin this year:

http://online.wsj.com/article/SB10001424052702303661904576454391556648986.html

I can only guess that this guy believes everyone can't research this stuff.

(2) He certainly sounds like no Democrat, which is why I called him a right-winger in another post.

Me thinks this guy is fully of malarkey,. Look at his rant: corporate profits are soaring right now, including those for his company, and he claims the president is a wet blanket? How much more do they want, and why do people line up behind this guy's opinion?

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I don't necessarily agree with his overall assessment, but I know a number of businessmen who are indeed terrified of Obamacare. When I was interviewing for my current job, I asked one of the officers, "What are the biggest challenges facing the company in the near term?" Without pausing for a nanosecond, he replied, "Obamacare. It's going to cause our labor costs to skyrocket." Maybe Obamacare is a good idea and worth the price we're going to pay, but my employer thinks it's going to pay a hefty price.

EDIT: And that officer is a Dem through and through.

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Listening to the schitzophenia is very interesting.

Week one: There is no difference between Obama and Bush.

Week two: Obama is the worst President in the history of existance.

Week three: Meet the new boss same as the old boss.

Week four: Biggest wet blanket ever!

Week five: The government needs to stay out of our lives.

Week six: Save us government! Give us direction!

Week seven: Government regulation is strangling the economy if we would just shrink government and they'd let the free market take over all would be peaches and cream.

Week eight: Why the Hell isn't Obama doing more.

Week nine: The Republicans and the Democrats are the same.

Week ten: Thank god the Republicans are saving us from the Democrats by preventing them from raising taxes by 35%.

etc.

---------- Post added July-20th-2011 at 02:21 PM ----------

Full Disclosure: I own shares of WYNN and they've performed really nicely since I've bought them although they're a little off their highs currently, but plus 400% since the Obama Administration doesn't give thisguy a lot of room to complain..

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Well, he's not gambler and chief :silly:

Yeah, it wasn't Obama's best moment. Still, if I remember correctlly wasn't that during wone of those we all need to tighten our belts, be more responisble, and stop spending beyond our means speeches. (Yeah, I know. Do what I say and not what I do, right?)

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how much from Vegas vs Macau?....Macau did well

any other factors such as selloffs,layoffs?

profits are a funny thing

added

where do you think the investment will flow?

http://www.businessweek.com/news/2011-04-20/wynn-macau-advances-after-first-quarter-profit-surges-66-.html

the rich have choices where to invest,it ain't a charity

According to the article, 23% of this came from Las Vegas, which is a pretty good rise in profitability, if you ask me. I will repost the link to see if you can read it without subscribing to it. (I found it through Googling.)

http://online.wsj.com/article/SB10001424052702303661904576454391556648986.html

This has nothing to do with charity. It has to do with the language used by Wynn, and the fact that his company is doing well, contrary to his words. Or do you simply support Wynn, just because?

---------- Post added July-20th-2011 at 06:39 PM ----------

I love Wynn for voicing what many business owners are currently feeling (I just wished he hadn't toned it down so much) ;)

Even though his business is doing well, and even though corporate profits have risen greatly, while the average worker has suffered? I guess anything goes, no matter the hypocrisy, as long as it's anti-Obama, right?

Yeah, three cheers for the oligarchs. Sorry, average man, but you are out of luck.

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Bac...it has been dropping in Vegas, + 23% when you have been losing money is not too great.

again ya need to look deeper to get a real feel or whether his profit is viable

I can fire half my employees and sell part of the business and increase profit short term

I certainly agree with Wynn that Obama's choices and speeches have created GREAT uncertainty in the business sector and restricts investments....I've been saying that for awhile.

He talks like a socialist,not a friend of business

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Still, if I remember correctlly wasn't that during wone of those we all need to tighten our belts, be more responisble, and stop spending beyond our means speeches.

Yeah, of all people to make that recommendation well, calling it hypocritical would be an major understatement.

---------- Post added July-20th-2011 at 12:49 PM ----------

President Obama is playing the roll of Manager in Chief at the worst possible time. But it doesn't look like the Republicans want to give us a leader either so I think we're just going to wallow in it for another 4 years.
.

God help us if it's the current chump.

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Obama's biggest problem in my humble opinion is that he's a reasonable, intelligent, flexible, nice guy at heart... well, as much as a politician can be. When surrounded by spoiled brat ego maniacs, whether they be Pelosi and Reid or the other side, you need to be a hard ass general or a ****. You got to scare the troops and make them pay attention. He's just not that guy. I'm not saying he's a wimp. He isn't, but he's a nice guy in a room full of loud mouthed, close minded jerks. That's a problem.

Now, Bush wasn't a **** either, though I think Bush might have been tougher, but Cheney was exceptionally good at being a ****. Cheney scared the Hell out of the Republicans and the Democrats. Biden can't fulfill the Cheney role. He's a nice guy/deal maker too. Rahm was supposed to be Obama's ****, but he failed and then left. I think Obama and Rahm underestimated the vindictive, selfish, spoiled nature of Congress' Dems esp. in the House. The new crop in the house are even worse and their agenda is to try to make sure America suffers so that they can win the Senate and Presidency. It's practically their stated goal.

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I don't agree w/that assessment at all Burgold. I equate Obama to a petulant child: he's been handed everything thus far in life and doesn't understand it when he doesn't get his way. I think the debt ceiling negotiations show how far he falls short in a leadership capacity. While I do agree with you he can get walked on from within his own party that just shows me again that he isn't the man for the job and never has been. Boy did Hillary ever get the shaft back in '08, she really should be President right now.

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He talks like a socialist,not a friend of business

The the US was any more big-business friendly the privilege of writing a new bill would be auctioned off on eBay. The fact that Obama is confused with a socialist is a testament to just how incredibly far in the other direction this country is.

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As a fellow millionaire resort owner, I feel this man's pain. We fellow millionaires have to stick together to fight back against the tyranical Stalin-like leadership in Washington.

Millionaire? Psssh.

Steve Wynn in a billionaire. Since 2003, he has quadrupled his worth. Yeah, he has it rough.

So rough that he can laugh at accidentally putting his elbow through a painting he had just sold for $139 million.

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