Vegas Mogul Slams Corporate Spending Backlash

Reuters:

Las Vegas casino legend Sheldon Adelson launched a quest for America's most boring city on Tuesday in a comeback to President Barack Obama's criticism of bankers who hold meetings in the famous gaming capital.

Obama last month warned companies that get bailout cash against spending it on activities potentially seen as perks -- sparking a row with hotel and resort operators who say they are already struggling to fill rooms and may have to cut jobs.

Read the whole story: Reuters

Comments

[metalpipe]

Why do mob bosses always have to look like mob bosses?

[JScott]

Really I thought it was Joe Franklin (google it) not Sheldon.

[blood1]

The downstream recipients of the banking largesse are complainin­g...and no one cares!

As the public has recently been told that fiscal responsibility is the rule of the road...but the investment banks that are a major player in the economic downturn should be allowed to have "perk parties" paid for by ME?

Sure, we understand that all those downstream are being hurt, ask all the businesses that can't get loans. As a new reality has been recognized by the American public, this guy is attempting to tell us that he should be exempt from this downturn..­..what the heck makes him so special! Nothing! The more he complains / whines...t­he more he just looks disconnected from the reality of what the American public has been seeing for the past 6 months.

[FessorFrink]

I spent $500 For three nights at a 4 star hotel with airfare this January in Las Vegas. Travel now to Vegas is not that expensive. The $440,000 is due to all the extras (or comps) the big companies want for their junkets that is the problem.

Like I posted yesterday about golf tournament sponsorships. Companies can still sponsor events, but they need to cut back on sending dozens of executives to stay at 5 star hotels. They have to cut the lavish parties. They can have an information tent for prospective clients, and one executive to hand out the trophy. It's not too hard if you use common sense. Common sense has been short on Wall Street these days.

[Tim303]

Keep it up, millionaires! You're making yourself real popular!

[Tommygun264]

For the first time in years I'm starting to see "Eat the Rich!" bumper stickers.

[Petey131]

As a resident of Las Vegas I agree with President Obama. These companies should not use tax payer money to drink, sleep around, or have call-girls entertain them. I do not feel sorry for the casinos. For years these casinos have taken advantage of people. What has devastated Las Vegas are the number of foreclosures while the casinos stepped back and laughed at the residents and visitors.

[hapiday]

The point was, the money being spent in Vegas and it is taxpayers money. The CEO's should spend their personal money for these events. Once the company is stable and they have paid back the billions of taxpayers money they can recoup what personal money was spent for these lavish trips. These companies just don't get it. Sheldon Adelson should go back to Israel and throw a Casino up next to a Synagogue.

[JFaye]

Bottom line ... corporate America can spend lavishly on whatever they desire ... just not at the taxpayers expense. If you except welfare, you play by the government rules.

[rockyersocksoff]

Parastic fossil sezwhat?

[MovingtoNorway]

LMAO

[TomTheAlmostUgly]

Here's an answer: Advertise for couples and families to come to Vegas. Of course, you might have to cut your prices, and make your shows more family friendly, but why should everyone _but you_ have to sacrifice?

[petphotos]

Good idea but I would rather go to Branson.

[jeanrenoir]

This has not been a good year for Adelson. First, he did all in his power to defeat Obama to help his pals in Israel bomb Iran with the blessings and aid of a Republican president, and that failed completely. Now his gambling empire is crumbling out from under his feet in Vegas. Too sad. Couldn't happen to a nicer guy. No need to boycott Vegas, just Adelson's casino there.

[MovingtoNorway]

Maybe he should downsize and move to Gaza

[hmmmmmer]

I am guessing there are other gambling destinations that cost a hellofva lot less. I am sure in these dire times one needs to prioritize what they are doing and how it looks. I hope we don't adopt the "Let them eat cake." attitude, but that looks like the path most Republicans are taking.

[Mikecoatl]

Try Bossier City, LA. With apologies to Jed Lewison, Vegas can suck it until they change their attitude.

[mphalen]

"Look, Chicago has got nine casinos. Now God forbid if they hold a convention there someone should go to one of those casinos and enjoy themselves. God forbid. And then they'd say 'oh I can't go there'," he said."

Maybe the orange hair dye has gone to his head, but there aren't any casinos in Chicago.

[Bettysdad]

Old man yelling at cloud.

Obama was simply using one America's most popular junket destinations as an example, because to most people it has a whiff of extravagance. It wouldn't have made sense to criticize trips to Helena, MT.

He didn't say cancel Vegas and go to Miami.

[Jenlv]

Well, unfortunatley that's what they heard. Wells Fargo cancelled Vegas and went to San Fransico, which I'm sure costs more. It took valuable money directly out of our economy.

[satyriasis]

Wells Fargo is headquartered in San Francisco.­..........­......

[jcollell]

Well he certainly doesn't look mobbed up.

http://www.youspar.com/

[memphisdem]

Let em come to Memphis we could use the business..­.nice hotels, good food, and alot of people living under the bridges.