[Merrily Gather]

Originally Posted by Cold Warrior

Here is a clue for those concerned about 'corporate greed': businesses exist to make a profit.

At the expense of what they built their business on, hospitality.

[JonathanLB]

Originally Posted by luckydogg

Unfortunately this isn't just a Vegas problem this is a problem with the Corporate oligarchy the USA has morphed into over the last 30-40 years. Corporations have a fiduciary duty to maximize profits, so they have an obligation to pay employees as low a wage as they can get away with, while extracting as much money from their customers as they possibly can without driving them away. And since corporations aren't people (contrary to what congress would have us believe), they have no emotional tie or obligation to any community, person, or entity that they employ or do business with. So they must carry on in total indifference as to whether they help or hurt anything external to them in the process.

Doesn't surprise me at all that people vote they way they do now, there's more broke people than ever and I don't think it's because they are all lazy and stupid...

There are in fact fewer broke people than ever, poverty rates are at historic lows, and unemployment rates are, too. As long as there are 5 million unskilled, and yes, stupid people to fill 2 million jobs, the wage pressure will always be downward. The market works exactly as it should work. If I have a piece of furniture that nobody wants, I have to keep dropping my price until someone decides it's worthwhile for them to buy it. If I have a piece of furniture everyone wants, I can increase my price until I have just one person willing to pay. Likewise, if there is a need for 5 million software engineer jobs and only 2 million skilled people to fill those jobs, companies will keep offering more and more money to secure the best and brightest.

I don't know why it surprises anyone that if they have ZERO skills and can't really do anything well, nobody is going to pay them a lot of money to just putz around. If you want money, you need skills first.

[EA]

They're broke because they don't understand economics, budgeting, or capitalism.

Want to make a lot of money? Learn how to do something people value and need.

It's really pretty simple.

Want to not be broke? Pay attention to what you spend and live within your means.
If you make 8 bucks an hour maybe don't buy a 7 dollar coffee every day along with $300 outfits.

[luckydogg]

Originally Posted by 08grad

Elections are nothing more than a demographic head count these days.

True. Which is probably why I don't bother. Sorry to say.

[Nik4me]

Originally Posted by Katie the heartbreaker

This new video came up in my youtube feed, so I thought I would post it. It applies more to tourists than locals. It does not apply to me at all. He makes some great points that I also have heard from others.

Why not just name 5 things destroying LV in order to start a discussion instead of posting a link to a long video - could not bear wasting 13!!! min listening to someone blubbering and promoting himself?
Are you the guy in the video? Or related to him?

[Cold Warrior]

Those at the top don't want just profit, they want maximum profit.

Of course. They are paid to maximize profit.

At the expense of what they built their business on, hospitality.

No business exists for the purpose of being hospitable.

[BBMW]

They're very hospitable if you have the money to pay for the hospitality.

Originally Posted by Merry Lee Gather

At the expense of what they built their business on, hospitality.

[Merrily Gather]

Originally Posted by Cold Warrior

Of course. They are paid to maximize profit.

No business exists for the purpose of being hospitable.

You just said the same thing as I did. Their business is hospitality. The video is about the perceived decrease in hospitality and it sites those things that a consumer once got but no longer can get. Thus their entertainment has decreased in value. We've discussed on here in the past that beyond the professional gambler Las Vegas sold the illusion of being somebody when you're there. Now it feels like a loss.

In this case it's shifted to if you've got the money to play we're happy to serve you. If not go elsewhere. Even in Las Vegas there is an elsewhere to go. They have levels of hospitality for all demographics at each property. I don't think they're turning away anyone persay.

They're still happy to take your money even if you don't have as much as the top 20% of account holders that do, which some properties cater more to. There's still a market for the other 80% of smaller accounts holder who are in the middle and working class. It up to the consumer to adjust and find that value for their dollar and decide if that's worth it to them. As some have suggested in prior posts it's not worth it to them.

Originally Posted by BBMW

They're very hospitable if you have the money to pay for the hospitality.

Exactly.

[Commander666]

Originally Posted by Merry Lee Gather

At the expense of what they built their business on, hospitality.

LV casinos were built on a license to steal from gambling fools, sure, sometimes they'd give you a kiss on the cheek.

[lvmensch]

Originally Posted by Commander666

LV casinos were built on a license to steal from gambling fools, sure, sometimes they'd give you a kiss on the cheek.

The Las Vegas casinos gave up on reliance solely on gaming decades ago. Those things which were comped to attract gamblers are now profit centers themselves.

And it is likely the dependence on gaming income will continue to decrease over the coming years.

So they are no longer reliant on gaming as their primary source of revenue. Still important but much less so then decades ago.

And the collection of properties known as the Strip and Downtown are important as they provide a combination of resources that no where else can duplicate.