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Published Friday, March 13, 2009 | 1:47 p.m.
Updated Friday, March 13, 2009 | 1:48 p.m.
Heartbeats may have risen momentarily for executives at Wynn Resorts on March 10, when this headline popped up on the Forbes.com Web site: "Wynn Resorts Shake-up"
A click on the headline revealed a video report and transcript by Forbes.com Video Network commentator Kym McNicholas saying: "An executive shake-up gave shares of Wynn Resorts a nearly 4 percent boost in extended trading, adding to a 25 percent gain in the regular session. A regulatory filing said COO William Weidner was no longer with the organization or a member of its board of directors. Michael Levin, who has served on the board, will be the new president and COO as of April 1.''
There was no shake-up, of course, at Wynn Resorts. The Forbes.com Video Network had confused Wynn Resorts for its rival across Sands Avenue, Las Vegas Sands Corp., owner of the Venetian and Palazzo resorts. Weidner, in fact, was ousted from Las Vegas Sands last week.
Las Vegas Sands, in the meantime, denied a Hong Kong newspaper report that it may sell its gambling license in the Chinese region of Macau -- the world's largest gambling market.
"We worked very hard to earn the concession and we have no intention of selling the license," Las Vegas Sands spokesman Ron Reese told Bloomberg News.
Wait until next week. Then you'll see the shakeup at Wynn Resorts. Tense over there.....
Was this another scam by Jim Cramer of CNBC to 'manipulate' the markets for his own profits at the expense of the honest Joe just trying to save for his retirement?
WHAT ABOUT STEVE WYNN AND HIS PROMISE ON LARRY KING LIVE OF NO LAY OFFS? YESTERDAY 4/13 AT WYNN RESORTS THERE WAS ALOT OF TERMINATIONS GOING ON.I GUESS STEVE WYNN IS NOT A MAN OF HIS WORD.AND BELIEVE ME THEY DO NOT TREAT THEIR EMPLOYEES LIKE FAMILY LIKE THEY SAY THEY DO.
Mr_D - Wynn does treat their employees really good, definitely nothing to complain about there... A few managers (like any job) get on your nerves but for the most part its great over there... I know first hand