Comments by user: matts7052
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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.
So...if these people are so outraged over government spending, where were they when George W. Bush increased the federal budget from $1.9T when Bill Clinton left office (with a surplus) to $3.1T with a defecit (thanks to a pointless, ill-advised war)? So, it's just selective outrage or what?
Their 6% drop in revenue isn't bad compared to Harrah's results - plus, they actually money unlike most of their peers!
Please take Harrah's to hell with you. Thanks.
"He told me it was to soon to make Michael Jackson jokes," Griffin said. (She didn't.) It was that kind of night.
Mr. Brown, that should be "too" instead of "to." Same to you, utnstudio...
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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...