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Old 02-16-2009, 09:37 PM
jpk
 
Location: Redmond, WA / Henderson, NV
531 posts, read 1,192,819 times
Reputation: 153
Obama's comments were a disaster for Las Vegas. Every company in America is now rethinking their plans to have a convention, a business meeting, a conference, an annual meeting, anything at all, in Las Vegas. By singling out Las Vegas as a specific location in the country that companies should not be going, millions of dollars have just been sucked out of the local economy.

I know it wasn't Obama's intention, but its the effect. He could have simply said that companies that have received government funds must all immediately cease non-operational expenses and that includes travel, entertainment, executive pay and bonuses. He had no reason to single out a city. In fact, he's really missing the mark with his comments. He should be freezing exec pay and bonuses and even going after the board of directors. He just gave a silly wristslap to CEOs and threatened that some who seek government bailouts in the future will have their basepay capped. No cap on bonuses, no application to the banks that already received funds (which is all of them already, so it's a non-threat), and no criteria for who would even get the pay cap if there was another bank to come along.

The people I've talked to in Las Vegas are irate because overnight literally millions of dollars in tourist money vanished after Obama spoke.
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Old 02-16-2009, 09:45 PM
 
Location: Edina, MN
5,309 posts, read 3,806,157 times
Reputation: 11759
While it's too bad LV was singled out, I believe it was merely used as an example. I'm glad to hear these corps are paying attention - I do not want my tax dollars used that way. This isn't an outrageous request.
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Old 02-16-2009, 10:10 PM
 
Location: Las Vegas, Centennial Hills
2,013 posts, read 4,577,123 times
Reputation: 836
Quote:
Originally Posted by MN2CO View Post
While it's too bad LV was singled out, I believe it was merely used as an example. I'm glad to hear these corps are paying attention - I do not want my tax dollars used that way. This isn't an outrageous request.
What you don't seem to understand is that every major city has bars and strip clubs. It is the perception that Vegas is a party town, but I guarantee you that SF is just as expensive and one can find all the naughty stuff there that one can find here. Your tax dollars are still being used in the same exact way, just somewhere else.
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Old 02-16-2009, 10:19 PM
 
Location: Edina, MN
5,309 posts, read 3,806,157 times
Reputation: 11759
Quote:
Originally Posted by Daddys///M3 View Post
What you don't seem to understand is that every major city has bars and strip clubs. It is the perception that Vegas is a party town, but I guarantee you that SF is just as expensive and one can find all the naughty stuff there that one can find here. Your tax dollars are still being used in the same exact way, just somewhere else.

I understand your sensitivity to this. I don't want my tax dollars used for "fun & games" anywhere. A majority of the population is struggling to get by - fun & games are at the bottom of the long list.
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Old 02-16-2009, 10:19 PM
jpk
 
Location: Redmond, WA / Henderson, NV
531 posts, read 1,192,819 times
Reputation: 153
Quote:
Originally Posted by MN2CO View Post
While it's too bad LV was singled out, I believe it was merely used as an example. I'm glad to hear these corps are paying attention - I do not want my tax dollars used that way. This isn't an outrageous request.
Imagine if he said "Corporations shouldn't be buying Minnesota products, visiting Minnestoa, or even running ads in Minnesota." I'm sure you'd feel the same way, it's the thought that counts, right?

Obama would never chastise corporations that did something like...buy a new fleet of Cadillac limos and Chevy corporate lease vehicles. Gee, wonder why he wouldn't call out Cadillacs or Chevys by name in a speech like this? Maybe because union labor builds those cars and he doesn't want to give GM a kick in the nuts by scaring folks from buying American when Detroit is already on its knees? I'm sure they don't need new limos, but he would never say that. So why would he kick the service industry union and the Las Vegas tourism industry in the nuts when it's on its knees? Think about it.
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Old 02-16-2009, 10:30 PM
 
Location: Edina, MN
5,309 posts, read 3,806,157 times
Reputation: 11759
Any company that receives a nickel from this bail-out will be heavily scrutinized - as they should be. Companies that are laying off empoyees will likewise be scrutinized - as they should be.

I'm truly sorry for any industry that is suffering (and yet there are still those that defend Bush.) Let's hope this gets corrected soon.

Nanu Nanu - go ahead and pick on MN - "sticks & stones".. HOWEVER, if all MN had going was fun & games, I expect it to be hit.
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Old 02-17-2009, 11:10 AM
 
34 posts, read 153,809 times
Reputation: 34
"While it's too bad LV was singled out, I believe it was merely used as an example. I'm glad to hear these corps are paying attention - I do not want my tax dollars used that way. This isn't an outrageous request."

If you dont want your tax dollars used in that way, maybe you should be questioning why your tax dollars went to save companies that were run into the ground by their currently employeed (and highly paid) executives without anything being changed as to how they do business.

The car companies that were just bailed out lose money on every vehicle sold. For GM, their average loss is $1,271 per vehicle, with Ford behind $451 per unit and Chrysler "only" losing $144 on average. For comparison, Nissan leads the profitability pack at $2,135 per vehicle, with Toyota and Honda coming in at $1,715 and $1,259 respectively. Do you think anything has changed?

We should have let these companies, and the ones on Wall Street, go out of business. They werent hit by a bad economy, they caused it. And the only thing the new stimulus plan stimulates is a bigger deficit (and guess who pays that back?). Vegas conventions should be the least of your worries.
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Old 02-17-2009, 11:17 AM
 
899 posts, read 654,362 times
Reputation: 1007
Hell no he shouldn't apologize. Las Vegas has recently become one of the most expensive cities to live in in the country and, no matter how you look at it, it is still an unnecessary expense to have meetings out of town or in places like Las Vegas. Besides, part of the problem that was seen was that the execs were using other luxuries like private jets and cars when they were asking for bail outs.
Any company that is in the black and can still afford such extravaganses will spend their money on them no matter what is publicly stated by the president or anyone else.
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Old 02-17-2009, 11:17 AM
 
Location: Beautiful Upstate NY!
12,252 posts, read 16,885,348 times
Reputation: 5661
Quote:
Originally Posted by jpk View Post
Obama's comments were a disaster for Las Vegas. Every company in America is now rethinking their plans to have a convention, a business meeting, a conference, an annual meeting, anything at all, in Las Vegas. By singling out Las Vegas as a specific location in the country that companies should not be going, millions of dollars have just been sucked out of the local economy.
And, on top of that, I guess the SuperBowl will be played in an empty stadium because Obama mentioned the SuperBowl, too!

Silly.
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Old 02-17-2009, 11:30 AM
 
Location: Edina, MN
5,309 posts, read 3,806,157 times
Reputation: 11759
Quote:
Originally Posted by metaldome View Post
"While it's too bad LV was singled out, I believe it was merely used as an example. I'm glad to hear these corps are paying attention - I do not want my tax dollars used that way. This isn't an outrageous request."

If you dont want your tax dollars used in that way, maybe you should be questioning why your tax dollars went to save companies that were run into the ground by their currently employeed (and highly paid) executives without anything being changed as to how they do business.

The car companies that were just bailed out lose money on every vehicle sold. For GM, their average loss is $1,271 per vehicle, with Ford behind $451 per unit and Chrysler "only" losing $144 on average. For comparison, Nissan leads the profitability pack at $2,135 per vehicle, with Toyota and Honda coming in at $1,715 and $1,259 respectively. Do you think anything has changed? We should have let these companies, and the ones on Wall Street, go out of business. They werent hit by a bad economy, they caused it. And the only thing the new stimulus plan stimulates is a bigger deficit (and guess who pays that back?). Vegas conventions should be the least of your worries.
I have questioned why the auto companies have been bailed out. The only reason I can see if that it is a major industry that we can't just give away to other countries. People (employees) need to think about why Honda, Toyota and others have done so well. Could it be quality? I worked for a major corporation with a strong union and I saw the crap behavior on a daily basis. Mad at your boss - do a poor job. Mad at your spouse, kids, in-laws - do a bad job. Unfortunately - this bad job was all too often witnessed by the customer. In my younger days I sat on the side of the road too many times in American made cars. I haven't bought one since. It's very simple, really, but they just don't get how a poor job will eventually come back and bite them in the fanny - as it did. So for that particular mess I blame the union culture.

I also don't worry about Vegas conventions - it's called prioritize.

I've given my opinion and don't intend to argue any of it with anyone. Have a nice day.
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