Wynn probably knows what he’s doing
To the editor:
In her Thursday letter, Phyllis Collins opines that “profits surge for Wynn Resorts” and, consequently, Mr. Wynn has had a “host of opportunities and could have created 10,000 more jobs at his Las Vegas properties.”
I presume she’s taking her material from the July 16 Review-Journal article “Wynn Resorts leads others in second-quarter earnings.” I hope she noted that the article was based upon a forecast by David Katz, an equity analyst. This doesn’t mean that the money is in the bank and Mr. Wynn is just sitting there, like Scrooge McDuck, counting it. Even Mr. Katz concluded he expects Wynn Resorts to show “modestly improving trends” in Las Vegas.
If you’re a good businessman, that doesn’t mean it’s the right time for your company to hire 10,000 new people for whom there is no particular need.
Please note that Wynn Resorts is not a charity. It is a business. Businesses survive on a bottom-line profitability. If Mr. Wynn hires 10,000 new people to add to his payroll, his operation becomes a losing proposition and has to fold.
These are Mr. Wynn’s cards. Let him play them. So far, he seems to have done very well without our help.
Ronnie Garner
Henderson
Wynn-Wynn
To the editor:
Phyllis Collins (Thursday letter) seems to imply that Steve Wynn (and presumably other business owners) should be expected to hire people not based on sound business judgment, not as a good steward of a publicly traded company looking out for the interests of his stock holders, but rather as charity.
She berates Mr. Wynn, saying although he has a host of opportunities and could create 10,000 more jobs at his Las Vegas properties, he’s afraid to do anything “in the current political climate.” She goes on to say, “Does Mr. Wynn need more profits, even higher casino revenues and greater dividends?”
The answer is “yes.” Increased profits and dividends are exactly what he is supposed to shoot for. It is precisely increased profits that make it possible for a business to expand and increase its hiring.
If, in Mr. Wynn’s best judgment, expanding now is a losing proposition (for whatever reasons), then he would be putting his entire company (and, by extension, all the jobs of its employees) at risk.
This is a perfect example of the liberal mentality at work: Go on what feels good in the moment (especially when it involves spending other people’s money) and totally ignore the real-world consequences.
Peter Horowitz
Las Vegas
Oil use
To the editor:
I agree with Michael Pravica (Thursday letter) that we cannot afford to continue importing most of our oil. But alternatives for fueling our transportation needs are not yet affordable. Government subsidies for ethanol producers and expensive rebates for hybrid vehicles make no sense when we have plentiful domestic oil resources.
Set the oil companies loose to develop our domestic supplies. Not only could we wean ourselves off our foreign dependency, but spending the $400 billion a year we now send overseas on domestic oil, instead, would go a long way toward revitalizing our economy.
When the costs of alternatives make them economical, they will displace the oil with no need for subsidies.
Tom Keller
Henderson
Police shooting
To the editor:
The Wednesday front-page headline about the mom who regretted dialing 911 caught my attention — and my heart goes out to all of the family members who have suffered losses recently from police shootings (“Mom regrets dialing 911,” Review-Journal). It is tragic, and these officers are doing what is necessary to protect the public.
I can’t help but believe, however, that there must be a more humane way to deal with unbalanced, intoxicated or drug-overdosed individuals.
I keep thinking of a powerful fire hose that would knock a man off of his feet — perhaps two or three hoses for a heavier person.
This sounds too simple and it may have already been tried, but if it worked, wouldn’t it be much more humane than pumping bullets into a deranged individual?
A.J. Marinelli
Las Vegas
Spaced out
To the editor:
The end of the space shuttle is one more giant step toward Third World status for this once-proud country.
Not only is our infrastructure crumbling, we no longer seem to have the desire to be the best at anything. And with the attitude of “if you can’t make a profit, it’s not worth doing” it seems our greatest days are behind us.
Maybe our national slogan should be: “America, backward to the future.”
Michael Fox
Las Vegas
Tax rates
To the editor:
In his Tuesday letter, small businessman William Bacon said he would willingly pay more taxes. He decries the fact that “Republicans in Washington are willing to default on this country’s debt in order to protect my interests.”
I assume he must have overpaid his taxes for years. I’m sure the taxes weren’t passed on to his customers. His product must be something great.
When I have to pay more taxes, I spend less. The toy I wanted, I won’t get.
That’s less money spent at the local store. Taxes that aren’t collected at the local and state level.
I think that if you have more jobs and less government intervention, you have job growth. If people are bullish on the future, you have more spending. Knowing what my taxes will be 10 years from now or how much my insurance will be – this tends to make me more secure, and I’ll spend that money.
It comes down to the fact that if the federal government or any government overspends, taxes will go up. My spending will go down.
Somewhere, somehow, everybody pays taxes.
Forrest A. Henry
North Las Vegas
