Hats off to Gaughan. Finally a business man who gets it. Keeping your people working during a down time instead of maximizing your bottom line according to the ebb and flow of the economy is tremendously commendable. I've often thought there could be enough to go around during down times if the guys at the top would take the short-term hit, and I'm heartened to see someone apply this. I'm sure his profits are down because of this decision, but I'm equally sure they'll be returned 2-fold down the road.

I will definitely give South Point some business the next time I'm in town just out of principle.

I'll give you this neiman1... when you latch on to something you don't let it go.

The high price of gas is a small part of the problem. The bigger part of the problem is that it has been pointed out to people recently that they've been living way beyond their means for a while, and things will have to tighten up for a while. Gas could go down to a buck a gallon and the geniuses on the strip would have a hard time filling all those hotel rooms. As long as publicly traded companies are in control, and the only thing the suits care about is the bottom line, people will continue to go elsewhere that's closer, cheaper, and lasts longer. Vegas isn't Vegas anymore, and joe-six pack has wisened up to that. It's not like Porter and McCain will help the problem either.

Well, you have to pay for infrastructure somehow! And trust me... the fees in Vegas and Nevada aren't nearly what they are on the east coast. And when the casino revenue is down, which totally drives the state budget, where else are they going to get the money needed to pay for things?

I am curious... just what are you seeing that so clearly indicates continued growth?

I agree that the economic downturn is nationwide, and now even global. But with Las Vegas being primarily a recreation and service oriented local economy, it will feel the downturns first and worst. That's just fundamental. Just because you sink $13 billion into additional hotels doesn't mean it's just a matter of time. I sincerely hope I'm wrong about the pain Vegas will feel... I just think it's irresponsible and silly to continue saying things will always turn around when it's based on nothing more than what appears to be wishful thinking. Please! Someone give me something concrete regarding just why it HAS to turn around?

Like I said, I truly hope it turns around. Vegas is my favorite place, and I'll continue to visit 2 or 3 times a year. And if and when it does turn around, and things are up, up, and away again... and Vegas is thriving, I will be the first to say I was wrong, and raise a toast to you for sticking it out and weathering the storm.

Just my opinion, but it sounds like another state official is drinking the kool-aid. While Nevada's population may ultimately increase from where it stands now, it will almost certainly go through some near-term (2-5 year) contraction. And given the lack of natural resources, it will become harder and harder to economically support infrastructure increases. It seems to me that the southern Nevada infrastructure is stressed to the breaking point now, so it would take a major financial outlay to successfully support the rising population that this report indicates. I don't see that happening any time soon (20 years), so any significant increase in population will only exacerbate current issues.

I for one just moved back to the east coast. Was in Vegas for a year. I held my own doing my sports-betting, but my girlfriend couldn't find work in the Vegas valley. Even though costs are a little higher in the northern Virginia area, our combined $160k goes alot further here than our $80k there did. That will continue to be a problem for Las Vegas, and I don't see that changing either. Too bad. We really enjoyed the Vegas environment... except for the drivers. Worst drivers in the world. My last suggestion to the powers that be in the valley there would be to give every new citizen a drivers test. Should help cut the number of idiots on the roads as well as add a new source of state funding.

Yeah, and good luck trying to buy a house for a while. Your FICO score better be pretty good. And funny thing about that... most people with a good credit score and sound money management already have a house and don't want another.

Best of luck trying to get rid of cookie-cutter inventory. Next month or next year.