Jeff German: Stupak may be down, but he’s far from being counted out

Thursday, July 25, 1996 | 11:59 a.m.

THREE MONTHS ago, Bob Stupak was at the top of the world, or at least the Stratosphere Tower, accepting accolades as the visionary behind the giant tourist attraction.

No one believed the self-proclaimed "Polish Maverick," who survived a near-fatal motorcycle crash a year earlier, could have pulled it off.

Having gained acceptance into the corporate world as chairman of the Stratosphere Corp., Stupak, the showman extraordinaire, was indeed riding high.

He was anticipating making a lot of money off the Stratosphere.

At the 1,149-foot tower's opening April 29, Stratosphere stock had risen to $14 a share, giving Stupak, who held nearly 9 million shares, a healthy portfolio.

The projected windfall had the man, once dubbed "Mr. Las Vegas" by the City Council, talking about putting together even bigger casino deals on the Strip.

But that was three months ago, before Stupak's stunning nosedive in corporate America.

Today, Stupak no longer is chairman of the Stratosphere. He claims to have lost $100 million, as the company's stock plummeted to $3.50 a share this week in the aftermath of the Stratosphere's horrible second-quarter earnings.

Stupak also has split with his business partner, Grand Casinos Chairman Lyle Berman, who has succeeded him as top dog at the Stratosphere.

Today, lacking the extra cash he once thought he would have, Stupak doesn't dream of putting together new projects on the Strip.

Instead, he wonders whether he should spend a few bucks ($25 million) to renovate his other lesser-known property, the tiny Thunderbird hotel-casino, which sits in the shadow of the Stratosphere.

Though friends say he's taking his fall from the tower very hard, Stupak puts on his poker face when asked about his latest troubles.

"I'm happy," he says. "I'll survive."

Those who know the Polish Maverick, who literally has come back from the dead before, believe him.

* Reps. Barbara Vucanovich and John Ensign, both R-Nev., may be facing their biggest tests yet on Capitol Hill.

Will they be able to use their clout with House leaders to thwart a bill naming the Nevada Test Site as the nation's temporary high-level nuclear waste dump?

Sens. Harry Reid and Richard Bryan, both D-Nev., managed to delay an expected yes vote on the measure in the Senate until Wednesday, two days before the lengthy summer recess.

Reid and Bryan are counting on the Republican counterparts in the House to find a way to stall the bill for those two days.

The Nevada Republicans will be asked to call in markers from Speaker Newt Gingrich and Majority Leader Dick Armey, both of whom have come to Las Vegas this year to campaign for Ensign.

Last week, Vucanovich and Ensign received additional pressure from a GOP benefactor, Mirage Resorts Chairman Steve Wynn, ranked No. 2 in a recent SUN survey on the most influential Nevadans.

In a speech at The Mirage, Wynn warned Republicans here that they risk losing Vucanovich and Ensign's seats to the Democrats if the House passes the nuke waste bill.

Nevadans, Wynn correctly surmised, won't take kindly to having the radioactive waste brought into their back yard.

They'll be eager to blame the Republican-controlled Congress.

* State GOP Executive Director Dan Burdish seems to have staved off a campaign to dump him.

Burdish, who has acknowledged that he's gay, a sexual preference not universally accepted with conservative GOP ranks, was getting heat from county Republicans over a mini-scandal involving missing receipts at the local party.

His boss, state GOP Chairman John Mason, was supporting him. But county honchos who once worked with Burdish were determined to force his ouster.

The controversy came up at a recent county Central Committee meeting, but no one seemed interested in testing Mason's resolve to stand by Burdish.

* The Saints & Sinners, in keeping with its irreverent tradition, is gearing up for a blockbuster roast next month.

It's planning to poke fun at Jack Gordon, estranged husband of singer LaToya Jackson.

The couple's split is being played out in the courts here and in the national tabloids.

Leading the Aug. 19 roast will be comedian Pat Cooper.