Comments by user: matts7052
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One would think that Harrah's would attempt to recall some of the thousands they laid off earlier. Ah, but it's Harrah's...ethics don't apply here.
I read the complaint, and this guy is out of control. He can't even spell correctly! Furthermore, he admits he was counting and then goes on to tell the CEO that he will tell his customers (which are allegedly Arab billionaires) that they should not stay at any Harrah's property. Seriously?! Where does this yutz get off?!
While the resort fees are ridiculous, I'm a little surprised that it has taken Harrah's this long to use this as a marketing tactic. Aren't they filled with Harvard MBAs or something?!!?
Actually, Belair and mred, the Fontainebleau Miami has become one of the hottest celeb spots in the country. The new owners took a tired Hilton property and really jazzed it up - in fact, you can barely get a room there under $300. Fontainebleau definitely has some cache. I would suggest you both check it out...
What really irks me is that Harrah's has whined for months that the recession has hurt them so badly that they have had to eliminate the 401(k) match, fire over 9,000 employees, and cut management salaries, but yet they somehow have enough cash to pick up an $880M property next door. Meanwhile, they keep offering smaller bondholders pennies on the dollar to try to lower their heinous debt load. Unbelievable arrogance from a poorly managed company.
"Starbeams" - you honestly think that K-Mart only stocks products made in the USA?!?!?! You are off your rocker!
Furthermore, the simple law of capitalism is supply and demand. Consumers demanded lower prices, better variety, and more convenience. They got it.
Oh, Denver...let's correct a few things, OK?
Q3 Net Income:
Harrah's: -$1.624 Billion
Wynn: $34.2 Million
Boyd: $6.3 Million
LVS: Announcing later this week
You see, dear Denver, all the others posted a PROFIT, albeit lower than the same quarter a year ago. Harrah's, however, lost $1.6 Billion. Who do you blame? Gary boy that jockeyed as hard as he could for the LBO that made him $90 Million richer or Steve Wynn that is still turning a profit?
Before you claim 'record quarterly losses,' do a little research. It will make you appear considerably less foolish.
Sporty, give me a break. The problem is that Harrah's is incredibly management heavy. Plus, they are so heavily levered, they can barely pay the bills. They are robbing Peter to pay Paul - at twice the interest rate. 9,000 employees get laid off and the rest lose their 401(k)s...and they hire this schmuck...
I'm not a pro-union kind of guy, but I'll get behind any reason to protest the morons at Harrah's.
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What Unwin failed to mention is that he hired a bunch of hacks from Harrah's to run the place. Since Harrah's is doing so great, that totally seems like a great move...