Letter sent to MGM Mirage employees from CEO James Murren

Discussion: 12 comments so far…

1. By phil721

   3/27/09 at 1:09 p.m.

   Suggest removal

   MGM "has" not filed for bankruptcy yet. But "will" they?????

2. By neiman1

   3/27/09 at 1:53 p.m.

   Suggest removal

   The subtle request from the senator must have made the banks make another bad loan???

3. By bbrummel

   3/27/09 at 9:47 p.m.

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   Dear Employees,

   We made our March payment on March 27 which allows us to scramble around for another month to figure out how we're going to continue as a "going concern". Don't worry about that accounting "lingo", it doesn't mean a thing. In the meantime we want to assure you that everything is great and that we are now running our company the way you're running your household: paycheck to paycheck. Rest assured that the executives will continue to indulge in expensive dinners, after work drinks, and private jet excursions at the company's expense. After all, the more you see us living it up the more you'll believe that everything is great. And besides, we can't go to Federal Prison on an empty stomach.

   Thank you,
   The Mgmnt.

   P.S. Those silly Middle Eastern types are just being sore losers. Don't worry about that lawsuit stuff. They just want attention.

4. By nhung

   3/28/09 at 12:42 a.m.

   Suggest removal

   Right on!!! Especially:"Rest assured that the executives(MGM)will continue to indulge in expensive dinners, after work drinks, and private jet excursions at the company's expense"

   Well written

5. By beanthere

   3/28/09 at 8:04 a.m.

   Suggest removal

   Dear (Poor) Employees,

   Let me first announce that we are renaming CityCenter to 'Murrenville' because it is I, Jim Murren, former Wall Street Wiz Analyst who was instrumental in convincing my buddies back home to run down Mr. Wynn's stock so MGM could take over Mirage Resorts back in 2000. Not only that, but I am also the one who is always first to recommend laying you off, mainly because I don't understand that you are the primary assets of a great company. Plus I have to make sure the numbers are looking good for the Quarterly Reports and the big AIG derivative and hedge fund traders!

   I want to be clear about this, NO ONE is going to lose their job because we made this payment. However, in order to keep the stock analysts happy so they'll run the stock up a little higher and I can sell my options before this baby blows we are having a voluntary 'cut back'. Please note: those of you who are being voluntarily 'cut back' are contributing to a greater cause - that of helping me build my portfolio back up after the enormous drop in the stock market.

   Your leader,

   Jimmy

6. By rumrunner

   3/28/09 at 10:34 a.m.

   Suggest removal

   Hey Jimmy, go back to the blueprints the mob laid out to take peoples money,and maybe things may turn around? You ve been bending over your visitors for years,and now there talking,so it may be time for you to take it up the shorts? maybe,lower room rates,cheaper food prices, LOOSEN UP THE GAMEING????? DUH..............

7. By emenot

   3/28/09 at 1:34 p.m.

   Suggest removal

   I am wondering even if the project finish, how long can the MGM survive if the economy stay in this dire state?

8. By stevem

   3/28/09 at 3:33 p.m.

   Suggest removal

   let this be a lesson to all you business school students out there.

   don't give golden parachutes to your executives.

   make them EARN their pay by paying them based on the performance of the company.

9. By Northsider

   3/29/09 at 9:39 a.m.

   Suggest removal

   Corporate greed .

10. By BeaverBrook

    3/31/09 at 10:29 a.m.

    Suggest removal

    ya know... I'd love to sit and have some dinner with these FAT CATS at the MGM. So out of touch are they with the bread and butter - that made them tick..

    The Glitz and SIZE of these companies only go so far..

    Years ago - as a 20 something year old man.. I went to Vegas (thrilled every time!) to play it all Craps, Slots, and poker. My money went to the house (and I won too!)

    Then.. the slot payouts all went to the TOP PRIZE - but (the greed took a good slice off the "new payouts" A really big CUT) THEY borrowed against this NEW PAYOUT plan.. and gave players LESS.. The people CAME to see the NEXT big building - amazed by a building with 5,000 + flushing toilets..

    FOR a WHILE anyways..

    Then they seen that the Cherry's did not pay as much.

    Double and Triple Bars did not pay as much..

    NOTHING PAYED as MUCH..

    and everything else started to cost more.. (shows,dinner, etc)

    Oh yeah..

    I went from 50+ trips to Vegas over 10-15 years to "0"

    Lokks like others are starting to "get the picture too"

    FANTASTIC!

    I'll be BACK.. As soon as the GREED is gone.

    Take my money - sure. But - and I speak for all PLAYERS here.. (yes - I'm bold enough to speak for ALL players)

    WE HAVE TO HAVE A CHANCE... WE HAVE TO HAVE "FUN"..

    Greed - (and the building of these silly - non-personal mega casinos..) KILLED the fun and stopped the never ending GRAVY TRAIN for the casino industry.

    Players will return when the industry gets its head out of .....

    Well.. you know.

    lol

    I'm laughing while I type this.. PEOPLE have had it up to here with the HAVES - "having it all.."

11. By stevem

    3/31/09 at 10:57 a.m.

    Suggest removal

    i agree with beaver.

    if i throw $5.00 into a nickel slot machine and play 5 lines at a time and i go through that entire $5.00 bill and don't get ONE winning spin, that's just stealing my money. i'm not having any fun at that point.

    and then i go to the bar and i get charged $8.00 for a corona!

    vegas is not "recession proof" and you bean counters out there need to suck it up and eat sushi twice a week instead of two times per week and free up some money so people can have a good time or they won't come back.

12. By LFL16

    4/20/09 at 9:07 p.m.

    Suggest removal

    I was in Vegas recently for business and had stayed at the Encore during the week. I decided to extend my stay into the weekend after I received a marketing offer from MGM Grand. I am disappointed to say that it was a mistake. The rooms were horribly dated:

    http://www.flickr.com/photos/lfl/3224634...

    If they keep pushing rooms like this to their guests, they will surely go bankrupt. I got more value for my money at the Encore.

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