I'm a fan of Las Vegas. I'm not a gambler (with the exception of a few bucks thrown at the slots every now and then), but I enjoy the town because of there's just so much to see and the people watching can be fascinating. One of the main reasons there are so many different and distinct properties is Steve Wynn. Over the years, taking a relatively small amount of money to start with, he completely redid the Golden Nugget downtown, and then transformed the Strip building The Mirage, Treasure Island, Bellagio, The Wynn Resort, and the soon-to-open Encore. Along the way he took a lot of chances, sold most of his properties to finance the next big thing, borrowed huge sums of money, and completely changed the Las Vegas Strip. I don't think gambling is good for a society, but it's hard to fault Wynn's business acumen and entrepreneurial vision.
Wynn was interviewed about the current mortgage crisis, why he thinks it happened, and what he thinks should be done. It's an interesting interview and he's not a fan of the bailout package at all. He thinks government will just find new ways to screw it up because they are not prepared to handle these mortgage problems.
He's probably right.
You can read it all here.
Thursday, October 02, 2008
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