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February 28, 2008

The recession which isnt has reached gaming industry

Pinnacle Entertainment , operating casinos in regional U.S. markets, posted a wider fourth-quarter loss, due mainly to costs related to opening a new casino, while Harrah's, which operates Las Vegas Strip resorts like Caesars Palace and the Flamingo, posted a fourth-quarter loss, burdened by impairment charges and losses at its properties in Illinois and Indiana.

Gary Loveman, Harrah's chief executive, said on a conference call that results at regional casinos were "mixed," while in Las Vegas "the gaming business has held up well, but room rates are off a bit."

Boyd Gaming Corp , which owns and operates 17 casinos in seven states, posted a 45 percent drop in fourth-quarter profit.

Boyd, which is building Echelon on the Las Vegas Strip, said net income fell to $31.2 million, or 35 cents per share, from $56.3 million, or 64 cents per share, a year earlier.
From All Bets Are Off: Casinos Feel Economic Pain

Hillary Clinton promises to stay in the Senate

Excerpt of Democratic debate held in Cleveland:

Tim Russert: You said it was good on balance for New York and America in 2004, and now you're in Ohio and your words are much different, Senator. The record is very clear.
Mrs. Clinton: Well, I--I--you don't have all the record because you can go back and look at what I've said consistently. And I haven't just said things; I have actually voted to toughen trade agreements, to try to put more teeth into our enforcement mechanisms. And I will continue to do so.

Noted on a Wall Street Journal
page Wednesday is that the only way she can continue to vote is by remaining in the Senate.

Hey, where can a guy get a cup of coffee?

Apparently, not at a Starbucks this past Tuesday evening.

Nearly 7,100 company-operated Starbucks stores across the U.S. -- all except the licensed shops in supermarkets, airports, malls, hotels and the like -- closed at 5:30 p.m. local time so some 135,000 employees could go through about three hours of training.

Part back-to-basics tutorial, part pep rally, the teach-in aimed to reacquaint baristas with the art of pulling the perfect shot of espresso and steaming milk to add a subtle hint of sweetness to a latte and give the velvety foam on top just the right thickness. (Rivals Cash in on Starbucks' Teach-In)

Starbucks said that when its shops open Wednesday, customers will be greeted with a promise posted in each store: "Your drink should be perfect, every time. If not, let us know and we'll make it right."

Being open would be a good start at being perfect. If they closed early for training--and if I actually cared about designer coffee--and I wanted a cup of coffee, I would never go back. All my friends know that no one better get between me and my coffee. Must have been an "efficiency" expert who planned the shutdown during normal business hours to improve quality and image.

February 27, 2008

Congress considers $15 billion bailout of home mortgage fiasco--more money down the drain

House discusses $15 billion mortgage bailout

House members are discussing a tentative plan would allow the government to purchase up to 1 million mortgages over five years in an effort to help struggling borrowers avoid foreclosure and financial markets avoid more credit-related losses. The loans would be bought by the Federal Housing Administration, a Depression-era agency that insures loans made to borrowers with poor credit.

The effort shows that the housing crisis has evolved to the point where government officials are considering bailing out large groups of borrowers and Wall Street investors.

Now there is an operative phrase: Wall Street investors. I am too sure that Congress wants to bail out ordinary people, except that some of these people vote; however, the Federal Reserve was created to protect the big financial institutions and after already plunging hundreds of billions of dollars of imaginary money into the system to protect Citigroup, Bear Stearns and the like. Congress now wants to do its part. Will the quid pro quo show up as campaign contributions, money in offshore accounts, hmm? Just how in the hell long can a government, which is now spending $3 TRILLION a year, keep inventing new money? (which makes the old less valuable) And where is the money coming from for the economic stimulus plan? Water on the moon? "Money from nothing" seems to be this government's mantra--Democrat and Republican alike.

I did not get an adjustable rate mortgage or any other such nonsense, did not use a credit card as if it was a gift card, did not trade up to a new vehicle every year--I still drive my '92 Ford, and I am sick and tired of all the whining people who now can't make ends meet and the politicians who want to make it all better with free money. That's my life that all these foolish losers on Wall Street are also affecting and they get a bailout for being stupid and greedy. I think we need a national anthem. Throw all the bums out and start again.

As Clinton campaign falls, Hillary's temperature rises

Democrats Barack Obama and Hillary Clinton clashed sharply in a high-stakes one-on-one debate on Tuesday, accusing each other of falsely portraying their stances on health care, trade and other issues. (Obama and Clinton clash in testy debate)

In a desperate move to salvage her campaign, Hillary--our very own Lady Macbeth--has unleashed what one campaign official called a "'kitchen sink" approach, hoping that something will stop the slide which now shows Obama ahead in Ohio and Texas in several polls.

As Dick Morris, former Bill Clinton campaign manager, puts it in discussing Hillary's pressure on Democrat Superdelegates and her wish to seat Florida delegates:

The Clintons' approach is driving voters into Obama's arms in droves. What better example of what he calls "old-style Washington politics" than the use of superdelegates to nullify the will of the voters?

National tracking polls show Obama gaining almost daily - and all now put him in the lead. That reflects popular anger at the Clintons' tactics. (Hillary on the Rocks)

Is Obama ready to lead a nation? I have doubts that any sane person could or would but his experience in surmounting the "Clinton Machine" gives him better credentials than Bill Clinton ever had or Hillary ever will.

EU fines Microsoft record $1.35 billion

From Yahoo News:
Microsoft was fined a record 899 million euros ($1.35 billion) by the European Commission on Wednesday for using high prices to discourage software competition in the latest sanction in their long-running battle

The executive arm of the European Union said the U.S. software group defied a 2004 order from Brussels to provide the information on reasonable terms.

Microsoft has now been fined a total of 1.68 billion euros by the EU for abusing its 95 percent dominance of PC operating systems through Windows.

Oh, well...what's a billion and a half among enemies?

February 25, 2008

US Attorneys side with bank against beating victim

Excerpt from INSIDE VEGAS by Steve Miller, February 25, 2007:

"Not since Tony Spilotro has there been as notorious a hoodlum
as Rick Rizzolo. For the bank to say they didn't know is farcical."
- Stan Hunterton, attorney for Kirk Henry, 2/22/08

In a shocking turn of events, US Attorneys for Nevada, Gregory Brower and Daniel Hollingsworth, have taken the side of a California bank asking US Federal Judge Philip Pro to remove beating victim Kirk Henry from being first in line to receive his $9 million dollar court ordered settlement to be taken from the sale of the forfeited Crazy Horse Too topless bar

...

In addition to trying to take Kirk Henry's settlement and give it to a bank, Brower and Hollingsworth asked Judge Pro to conduct a hearing behind closed doors with the bank's attorneys allowed to argue via telephone; deny Henry's request for discovery including an investigation into where Rizzolo hid his personal assets; and deny Henry's request for a trial in open court.

The government said they were doing this to save taxpayer money because they believed Henry would not prevail at trial, and by cutting short his attorney's requests, taxpayers would save the cost of fighting the bank in open court, then losing.

This wasn't the first time Nevada US Attorneys have raised eyebrows in this case. They have a history of trying to keep the public in the dark regarding the Crazy Horse Too. On August 13, 2007, they told Judge Pro, "The general public should not be allowed to know the proposed offers, the proprietary information, etc." regarding the sale of the topless bar.

Politicians, state officials, judges, and attorneys working for mob figures. Sounds just like the days when "Mr. Cleanface" Harry Reid was Gaming Commissioner and the mob claimed he was in their pocket. Maybe the city motto should be "What happens in Vegas has always happened in Vegas."
For the full article go to
AmericanMafia.com.

February 24, 2008

Even as the media writes off Hillary Clinton, they can't stop talking about her

In the last Democratic debate Clinton gave us the "sincere" moment in her closing reminiscent of her "tearful" moment in New Hampshire which raised her to a primary win in NH. For anyone who believes that any of those moments are real, those people haven't really known an attorney. Sincerity is where ever the money is coming from.

And yet, just when the pundits declared her closing statement as her valedictorian moment and applauded the high tone she took, Clinton has finally let her anger loose. Holy entitled place in history, Batman, Hillary just can't believe that people could like another Democrat better than her; for that matter neither can Bill who decided to tell Texans that if Hillary doesn't win Texas, it is their fault, not the Clintons. With another campaign policy shift hoping to revive her position, Hillary is "merely strutting her hour upon the stage, full of sound and fury, signifying nothing" to paraphrase Shakespeare.

From the Los Angeles Times:

In a move to salvage her bid for the Democratic presidential nomination, Hillary Rodham Clinton adopted a newly bellicose tone toward rival Barack Obama on Saturday, saying he was making false and shameful attacks on her record.

The New York senator mocked Obama's speaking skills and his power to draw tens of thousands of supporters to rallies that have dwarfed her more modest events.

Yes, Clinton just can't believe that Obama would dare to have bigger rallies than her, but the sudden passionate anger is too little, too petty, and most likely too late.

February 22, 2008

Governor Gibbons opposes Southern Nevada Water Authority pipeline

On Tuesday, Gibbons told the Fallon Rotary Club that the Southern Nevada Water Authority, which has proposed a multibillion-dollar pipeline to eastern Nevada to supply Las Vegas with a backup source of drinking water, should instead build a desalination plant in California and trade that plant's water for some of California's allocation of the Colorado River, according to the Lahontan Valley News.

The world has just turned upside down...although the SNWA pipeline plan reeks of ecological disaster by sucking water from eastern Nevada auquifers, little did I suspect that a politician might actually propose a plan that seems to have merit.

February 14, 2008

NY Attorney General plans to sue United Health Group

Health insurers probed over reimbursement

New York Attorney General Andrew Cuomo said on Wednesday he is conducting an industry-wide probe of health insurers into an alleged scheme to defraud consumers by manipulating reimbursement rates.

Cuomo said he intends to sue UnitedHealth Group Inc (UNH.N) and four of its subsidiaries, including Ingenix Inc, the nation's largest provider of health care billing information.

The attorney general also issued 16 subpoenas to the largest U.S. health insurance companies, including Aetna Inc (AET.N), Cigna Corp (CI.N) and Empire Blue Cross Blue Shield, a unit of WellPoint Inc (WLP.N).

If I recall correctly United Health Group signed an agreement to acquire Sierra Health Services Inc.which provided health benefits and services to Nevadans and amazingly the Nevada Insurance Commission approved the purchase leaving Nevadans with only a few health care providers and giving United Health Group as much as 80 percent of the Nevada market.

At the time Forrest Burke, of United Health, said there would be no increase in rates and that reimbursement and other factors would be unaffected. (Nevada Appeal)

However, it is reimbursement that United Health is now being investigated for. Kind of makes it easy to set rates when there is no competition thanks to our ever watchful Nevada politicians.

For those who hate Governor Gibbons almost as much as Bush, there is one thing he may be getting right:

On November 9, 2007, Governor Gibbons sent a letter to the U.S. Department of Justice requesting that they seek a final and accurate determination, within their jurisdiction, of what this merger would mean to healthcare access and availability in Nevada.

"A merger of this magnitude could prove to be less than advantageous to Nevada consumers due to the overwhelming HMO and Medicare market share the UnitedHealth Group will control in our state," Governor Gibbons concluded.

He got one right. Read the Governor's office complete press release here.

February 13, 2008

Does Mexico want U.S. to build a border fence?...between Mexico and Guatemala?

President Calderon of Mexico yesterday decried anti-immigrant perceptions in America and argued that Mexican immigrants complement American workers.

On his first trip to America as Mexico's president, Mr. Calderon said he is working to combat anti-Americanism in Mexico and to improve job prospects there to reduce migration. He said he hopes that Americans resist anti-Mexican sentiments.

"The worst thing that happened in this country is this anti-Mexican or anti-immigrant perception of people. We need to contain this," Mr. Calderon said after a speech at Harvard's John F. Kennedy School of Government.

"I need to change in Mexico the perception that the Americans are the enemy, and it is important to change the perception that the Mexicans are the enemy," he said. "We are neighbors, we are friends and we must be allies." (Leader Decries U.S. Anti-Immigrant Views)

Calderon should have said, "We need your money!" He might also be negotiating for more help to protect Mexico from those pesky illegals passing through Mexico's southern border with Guatemala. And if you weren't aware, Mexico's policy for illegals is jail time, unlike in the U.S. where illegals enjoy the benefits of gang membership, sexual predation, drug dealing, drunk driving, car theft, and a host of pursuits by a northwardly mobile population, while Wal Mart now sells its products with Spanish labels to make them better consumers, and the U.S. government prints everything in Spanish--so they know their "rights." However, I don't believe that the Mexican government will provide documents in English; Spanish is an official language; English is not.

[Mexico] has traditionally been just a transit point on the immigration route, and has long been under pressure by the US to step up its security. Shortly after taking office in December, President Felipe Calderón responded to the call by setting up a new border police force with 645 officers.

But his administration is under equal pressure by critics who say Mexico demands of the US what it doesn't give to its own migrants: fair treatment. (Mexico's other migrant problem)

Of course it is no surprise Mexicans (and Hondurans and Gruatemallans, and Chinese?...want to come here with the way the Mexican workers--and others--are treated by the government and corporations and land owners.

Deputy Foreign Minister Gerónimo Gutiérrez recently (2006) acknowledged that Mexico's immigration laws were "tougher than those being contemplated by the United States," where the authorities caught 1.5 million people illegally crossing the Mexican border last year....A trip to Chiapas raises questions about whether Mexico practices at home what it preaches abroad.

If the major characters in the migration drama unfolding in Chiapas could be captured in a collage, it would include a burly, white-haired farmer named Eusebio Ortega Contreras, who did not hide that most of the workers who picked mangos in his fields for $6 a day were underage, undocumented Guatemalans. Indians from Chiapas used to do these jobs, Mr. Ortega said. But in the past five years, they have been migrating to the United States. And lately, he said, he has begun to worry that he is going to lose the Guatemalans, too.

"We know that the conditions we provide our workers are not adequate," said Mr. Ortega, president of the local fruit growers' association, who showed a reporter the meager shelter he can offer: an awning off a hay shed for a roof and lined-up milk crates for beds. (Mexico Worries About Its Own Southern Border)

I guess we should have invaded Mexico instead of Iraq when we wanted to depose corrupt leaders.

The further adventures of the incredible, vanishing Lake Mead

Lake Mead, the prime source of water for Clark County may run dry in 13 years according to a new study.

The study by two researchers at the Scripps Institution of Oceanography at the University of California San Diego, predicts a 50 per cent probability it will be gone by 2021 in the absence of other changes.

"We were stunned at the magnitude of the problem and how fast it was coming at us," said study co-author Tim Barnett, a marine research physicist.

It's been a bit of a surprise to boat owners whose marinas keep moving to follow the vanishing shoreline, also, but it should make a great off-roading park when it becomes a dry lake bed. Besides no water to drink, what happens if there isn't water running through the electrical turbines of Hoover Dam?

February 12, 2008

An excerpt from the New York Times: The credit crisis is no longer just a subprime mortgage problem.

An excerpt from the New York Times:

The credit crisis is no longer just a subprime mortgage problem.

As home prices fall and banks tighten lending standards, people with good, or prime, credit histories are falling behind on their payments for home loans, auto loans and credit cards at a quickening pace, according to industry data and economists.

The rise in prime delinquencies, while less severe than the one in the subprime market, nonetheless poses a threat to the battered housing market and weakening economy, which some specialists say is in a recession or headed for one.

Until recently, people with good credit, who tend to pay their bills on time and manage their finances well, were viewed as a bulwark against the economic strains posed by rising defaults among borrowers with blemished, or subprime, credit.

"This collapse in housing value is sucking in all borrowers," said Mark Zandi, chief economist at Moody's Economy.com.

And how are banks handling the crisis in debt? They are raising credit card rates to cover the losses from the mortgage debacle, which they created--even punishing those who have not missed a payment or made a late payment. Nice that the banking industry can screw up and even responsible customers will get screwed, while the Fed lowers interest rates to help out the banks.

Click here for more of the bad news.

Complaint filed against Clark County Family Court Judge Del Vecchio

Judge Del Vecchio is the subject of a complaint filed before the Nevada Commission on Judicial Discipline. The complaint alleges that Del Vecchio forced the daughter of his former wife to have sexual relations with him in order to keep her job.

It also accuses Del Vecchio of having made her perform fellatio on him when she was 14-years-old, while her mother, who was Del Vecchio's girlfriend at the time, worked for him in his own law firm.

Other allegations state that Del Vecchio took her, as a minor, shopping for clothes on the condition she model them for him and says that, after he divorced her mother, he promised to continue assisting her mother financially if she'd perform nude.

Further allegations state inappropriate sexual remarks directed at other employees, attorneys, and parties appearing before the judge.

The whole 31 page complaint can be found here.

Just for fun...can we think of a few other Clark County Judges who have apparently embarassed themselves or abused their position?... Steve Jones, Nancy Saitta, Elizabeth Halverson to name a few.

February 11, 2008

Zound Bite: Fish going for a space ride

Scientists plan to launch 60 tiny fish on a zero gravity rocket ride from above the Arctic Circle today to try to plumb the secrets of motion sickness.

What are the fish going to do?...tell the scientists how they felt? With all the research still needed for cancer, diabetes, ALS, etc.--not to mention alternative energy and world peace--it's soooo reasuring to know there is still funding available to let fish fly.

February 9, 2008

Hundreds attend coal plant hearing

From the Salt Lake Tribune: Protesters and proponents from two states filled a city hall auditorium in the Nevada border city of Mesquite to air concerns about a company's proposal to build a coal-fired power plant nearby.
...
The state is considering whether to issue an air quality permit for Sithe Global Power, a subsidiary of private equity giant Blackstone Group of New York, to build the 750-megawatt, coal-fired Toquop Energy Project.
...
The company, which plans to burn coal from the Powder River Basin of Wyoming, also needs environmental approval from the Bureau of Land Management. It hopes to begin construction by March 2009 and power generation by 2013.
...
Assemblyman Joe Hardy, a Republican doctor who represents the area, Clark County commissioners Bruce Woodbury and Tom Collins, and Mesquite Mayor Susan Holecheck were applauded when they took turns criticizing the project.

As China and southern Nevada suffer the coldest weather in years, every politician and easily confused citizen still clings to global warming as the apocalypse that evangelicals have embraced for centuries. Granted that environmental issues always need to be addressed but is it reasonable to oppose every project to provide energy to the valley while approving every casino and development, especially in the face of no water. It is easy for politicians to support NIMBYprotests (Not In My Back Yard) but I am waiting to hear what the alternative proposals are. Perhaps no more building? No, they haven't paved the whole valley--yet--so I doubt that is an alternative. The other question I have is how many of the politicians we have today will be living here tomorrow when southern Nevada is living with the consequences.

Zound Bite: Plans for Moulin Rouge announced

From Market Watch:
A group of African-American investors has teamed up with a firm that specializes in urban redevelopment to place a big bet that together they can resurrect a fabled piece of Las Vegas history: the Moulin Rouge.

February 7, 2008

Las Vegas company indicted in pet food deaths

Xuzhou Anying Biologic Technology Development Co., Suzhou Textiles, Silk, Light Industrial Products, Arts and Crafts I/E Co., and Las Vegas-based ChemNutra Inc. were charged in two separate but related indictments. The U.S. attorney's office in Kansas City said the tainted food led to the death and serious illness of pets in the U.S. last year.

For more see 3 Companies Indicted.

February 6, 2008

Las Vegas City Council gives thumbs down for Veteran's park

Here's an excerpt from a Steve Miller report in Rick Porrello's American Mafia:

"last week the LV City Council silently turned down a request to fund $800,000 for a city park devoted to honoring our fallen war heroes. A discussion about the proposed "Veterans Memorial Park" was quietly removed from this Wednesday's council agenda after Mayor Pro Tem Gary Reese told representatives of local and state veteran's organizations, "We don't have the money." Meanwhile, [Las Vegas Mayor] Goodman is forging ahead with raising over $45 million to honor the scum of the earth, and give himself a permanent place in LV history.
...
And when our soldiers return home to Las Vegas, they'll be greeted by an expensive tribute to murderers, cowards, and crooks, instead of a simple park with monuments to honor our fallen soldiers who gave their lives so people like Oscar Goodman could have their way.

What has our town become?"

Actually, I think Las Vegas is simply still the same as it always was since Bugsy Siegel saw money in the desert sun.

February 4, 2008

Put these "Three Stooges" in the U.S. Congress next

While our federal legislative branch ponders the evils of steroids in baseball, which seems somewhere in left field even for our Congressional clowns, it appears that three Mississippi legislators are vying for recognition for most government interference in people's lives, probably hoping to move up to the big leagues in Washington D,C.

Mississippi House of Representatives legislators, Republicans W. T. Mayhall, Jr. and John Read, and Democrat Bobby Shows, this week introduced Bill No. 282 that would make it illegal for state-licensed restaurants to serve obese patrons. A copy can be found at thesmokinggun.com

Likely to be served already dead, a bill like this, if passed, would mean the end of "All You Can Eat Buffets" although if we had such a law here, I might actually be able to find a buffet in town without a 300 foot line.

Tony Blair wants to be President of Europe

Tony Blair has been holding discussions with some of his oldest allies on how he could become full-time president of the EU council, the prestigious new job characterised as "president of Europe". For more go to: I'll be president of Europe if you give me the power - Blair

And I imagine that fellow Bilderberg Group invitee, Bill Clinton, after taking care of Bosnia, Kosovo, and Slobodan Milosevich for the Europeans, expects someday to be "President of the World." I wonder if his wife, "Big Sister" Clinton will be or has been invited to participate in Bilderberg "open and frank" secret meetings.

Zound Bite: As if "Big Brother" isn't enough, beware of "Big Sister"

Democrat Hillary Rodham Clinton spoke Sunday on ABC's "This Week" on how to achieve health insurance coverage for all Americans.

"I think there are a number of mechanisms" that are possible, including "going after people's wages, automatic enrollment."

Ah, Big Sister...Don't Do Me Like That!

February 2, 2008

Sleeping judge plans to run for office if dumped

District Judge Elizabeth Halverson, who has been suspended with pay for eight months, has announced she will run for office again if forced from her post by the Nevada Commission on Judicial Discipline, which finally filed formal charges against her. Halverson, as a judge, has been accused of falling asleep in court, abusing employees, mishandling jury trials and general incompetence, and as a citizen, keeping a filthy yard.

At the same time, the Nevada Supreme Court has ordered the commission to justify why it took so long to bring formal charges against Halverson.

Is it any surprise? Another judge in Clark County who has been accused of behaving like a pig wants to continue to wallow at the government trough. And why do bad judges and lawyers continue to practice--or in this case paid--for so long after problems begin to appear leaving the public exposed and vulneralble to a legal system voted one of the worst in the country? Perhaps the oversight committees are part of the problem?... Or the fact the legal system basically polices itself?...Do you think?

Or another question to ask the public...do you care?

February 1, 2008

Zound Bites: Econonmy tanking; inflation rising, Exxon Mobile sets record profits

First an excerpt from U.S. Economy Unexpectedly Sheds 17,000 Jobs:

The economy lost 17,000 jobs in January, the Labor Department reported on Friday, the first monthly decline in four years and the most striking evidence yet that the United States may be slipping into a recession.

Until now, the labor market had been growing at a steady if softening pace. Many economists pointed to expanding payrolls as the final holdout in a sluggish economy weighed down by trouble on Wall Street, the collapse of the housing bubble, and a cascade of credit problems linked to soured subprime mortgages.

But the January employment report cast the job market in a startlingly darker light. Jobs disappeared across a broad spectrum of professions, with the steepest losses coming in the manufacturing, construction and goods-producing industries.

While jobs are now disappearing, it looks as if prices will continue to rise as China's inflation rises.

Soaring energy and raw material costs, a falling dollar and new business rules here are forcing Chinese factories to increase the prices of their exports, according to analysts and Western companies doing business here.

Because of new cost pressures here, American consumers could see prices increase by as much as 10 percent this year on specific products -- including toys, clothing, footwear and other consumer goods.

But my favorite corporate glutton--aside from telecommunications, pharmaceuticals, insurance, the Federal government, and doctors and lawyers as a whole--the oil industry has once again managed record profits even as everything else crumbles, partially due to increased transportation and material cost.

Exxon Mobil delivered its strongest performance ever last year, earning a record $40.6 billion in net income because of surging oil prices, the company said Friday.

That is surging oil prices that they bid up even as they pump the oil and at the same time refuse to invest in refineries or infrastructure. Oh, well, no recession for the wicked.