[olecapt]

Originally Posted by sheriff

Well, at least you realize revenue growth will not be in proportion to job growth. For the first time, LV revenue vs. growth is totally out of whack. This being the case, dictates--what? Worker income will DECREASE--------- doesn't matter if you work at a resort. And, yes, new resort openings will ABSOLUTELY result in others being laid-off, and reduced hours. For your information----- a "LV" fact--- the growth of a particular property has ALWAYS provided a decline in employees' income. You see, the increase of revenue is not significant, while the growth of employees is.

Come on Greg...you know my background. I generally pick my words to represent what I mean.

YOur views on the decrease of worker income is the worst source of conjecture. It could happen. Will happen? No way. And of course there will be losers. Happens every time. A new shiny large Casino moves the others down a peg. Been forever thus. But move the entire industry average down? I doubt it but we will have to wait and see.

The other question is when? The impact between now and 2010 is one thing...the impact in the longer term is another.

I still think the fun question is what next? What follows, if anything the present expansion? From 2010 forward is there no more? If there is more - when?

There are great question out there.

[sheriff]

2010-2011 will be an "acid test" for LV. Fact is: funding for new building has not been a problem until late 2007. Much of the current building funding has been guaranteed, and the current working projects will be completed. Many major projects, as ELAD, Crowne, etc have been cancelled. The recent condo/hotel craze, Allure, Trump, Sky, etc have been funded by "cash rich" entities, and, short term success is not important. The ONLY important statistic to the LV economy is, REVENUE. If revenue continues to fall, how many visitors, from wherever, why they visit, DOESN'T matter.

[massagemamma]

Originally Posted by desertsun41

Walking is great. Back in the mid 70s I walked 3 miles to school each way. There was a bus that came to my corner but I would not get on it. I preferred to walk rather then sit on that smoke filled bus. There were no none smoking laws in those days.

But today even if we wanted to walk, it is a more dangerous world out there. Even at night while walking the dog I walk side streets where few if any cars go. Im afraid and I carry, it dont matter because the bad guy will get you first if he wants to.

Good looking females walking? That is crazy in this age of nut cases.

Euro lifestyle cant work here. What are we going to do buy next to our job? In a right to work state like Nevada where they can fire you if your hair develops a curl we would need to be highly mobile....a renter.

Buses? Would you get on one of those things? Ever pull up next to one at a red light? See the shady charactors on that bus especially at night? I would rather walk to work. In my case I have 500 pounds of eqpt with me I need.

Guess I'm fortunate enough not to be a "good looking" female.

[dude66]

Originally Posted by olecapt

Where on earth are you going with this silliness? Of course Vegas is going to have some problems with a down economy. That is written.

You really have to be hopelessly bias to believe the existing scenario is any great threat.

You people absolutely amaze me in your behavior.

I simply post headlines that are relevant to the topic -- "Meltdown in Las Vegas" and you express incredulity at what I'm doing.

I realize now that I'm holding up a mirror and your responses are very revealing in how insecure you truly are about the situation.

I also now see where the old saying "blame the messenger" came from. I'm not making claims. I'm not making anything up. I'm simply posting news relevant to the topic at hand from credible news sources. If you want to discuss how "rosy" things are in Vegas, then go start your own thread.

And yes Olecapt, to answer your point -- I DO happen to think the current situation could be a MAJOR threat to every city's economy in America. The macro economic situation goes far beyond any typical recession the U.S. has faced before, and if you can't see that, then you have to be hopelessly out of touch with reality.

Real quick: name another time in American history when oil has breached $145 barrel? Or the Fed has been forced to bale out a bank on a Sunday (Bear Stearns) lest the entire American financial system explode the next day? (Source: Vanity Fair)

Answer: Never.

That ought to be your first clue.

[AA702]

When ever I watch the news these days, I just ignore it because its really all negative and there is nothing much at a personal level we can do about what the news is reporting. If gas is 5 bucks a gallon, then so be it! I will adjust and so will many more people. All those links you are posting is just in the news anyways, but if that is your forte' then I am not bashing you for it. My point being is that Las Vegas is not alone in this sluggish economy, its a national/global thing and some cities are worse off than others. So what is the difference if Las Vegas is going to get hit harder than Orlando? or Stockton is going to be much worse? If the economy is hitting you personally very hard, then why not go to one of those cities that isn't as hard hit? We all can adjust to the hard times, so easier than others.

Look at all the MI transplants that moved to LV? I'm sure some will leave Las Vegas for better oportunities

[dude66]

Originally Posted by olecapt

I still think the fun question is what next? What follows, if anything the present expansion? From 2010 forward is there no more? If there is more - when?

There are great question out there.

Based on credible sources predicting $200+ oil in the next year or two, it's the most vital question that Las Vegas has ever faced and will fundamentally decide whether this city has a future. Throw in Lake Mead's depletion and things get mighty interesting.

Oh, wait. I'm sorry. I'm being "silly" again. What does the price of oil have to do with anything, right? It's all temporary, right? The days of $2 gas and cheap airline flights are sure to return, right?

Right?

[airics]

actually i think the oil was higher in the 70s with Pres. Carter.. the lines, the shortages... you have to put that into todays dollars..

[guinnessjim]

Originally Posted by airics

actually i think the oil was higher in the 70s with Pres. Carter.. the lines, the shortages... you have to put that into todays dollars..

i'd be interested to see how the two would compare.

[dude66]

Originally Posted by olecapt

So what?

Employment will increase significantly. Visitors will increase significantly.

Uh -- what are you basing that on?

How will visitors increase?
From where?
And when?

Maybe when gas hits $5? Will visitors "increase" then?

[dude66]

Originally Posted by airics

actually i think the oil was higher in the 70s with Pres. Carter.. the lines, the shortages... you have to put that into todays dollars..

Actually you're wrong.

This chart shows it:

Inflation adjusted Oil Price Chart

The RED line is inflation adjusted price of oil. It's now higher than it was in the 1970s.

Keep in mind that chart is only a month old and is already out of date. It ends at $117/barrel. Well, we hit $145 last week, so it's even worse. The graph would now extend an entire line up.