Vacuum Cleaners Discussions |
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ainstalshia
Joined: Dec 23, 2008
Points: 1
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Original Message Dec 23, 2008 12:44 pm |
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This message was modified Aug 18, 2011 by ainstalshia
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CarmineD
Joined: Dec 31, 2007
Points: 5894
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Re: I need help choosing a new vacuum
Reply #38 Dec 26, 2008 7:41 am |
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Hi MOLE: Good questions and I'm not prepared to answer all now but I'll take a shot: Q... in your opinion are they part of the problem or part of the solution, Will they be going to uncle sam for a no questions asked like wall street for a BAILOUT. A: There are 6-9 casinos in question. These usually have at least 200 hotel rooms too. Required by Nevada law. All are franchised but individually owned. The newest is literally in our backyard. Beautiful property. All will seek reorganization under the bankruptcy laws, IMHO. Q. How many jobs are at stake? A. Not sure. Probably 10's of thousands. Many employees, like the dealers, cocktail waitresses, security, food servers, maintenance and cleanup staffs, sports books, cooks etc, will frequently work at more than one property. Q. Will they take the corporate jets to D.C. or go by greyhound? A. You've heard the expression: "What happens in Vegas, stays in Vegas." The government and private sector big wigs will fly/drive to LV. Naturally, first class/limosine with their staffs and entourages. Q. Should they just go belly up or be sold off for 10 cents on the dollar. A. The casinos will not go belly up. The bankruptcy filings will protect casino owners and management from their debtors and give the casinos much needed time and opportunities to survive. Some of the gaming stocks, many of which did very well in the good times, will actually become good buys at their low prices. And probably emerge in better financial condition after bankruptcy. Q. Does vegas have unemployment benefits. A. Yes, Nevada does. And should the state run out, and the unemployment rates stay high, the Federal government will pay out the unemployment benefits to the unemployed. Q. Is paulson a shareholder?????????? A. Might be! You may have heard that one of the Executive VP's of Fry's Electronics living in California embezzled money from the company to fund his heavy gambling and lifestyle here in Las Vegas. It's been known to happen even among men of the cloth.
Hope that answers, MOLE. On a postive note, the rank and file employees [for the most part Hispanic, Asian, Hawaiian, Guamanian, and Phillipine] that we know personally and professionally are weathering the storm well. They've had hours cut months ago, or even worse lost jobs, had to forego pay increases and more. But usually within a reasonable amount of time, they find employment and/or other sources to supplement income. For most, its the first time they've encountered bad times. They keep a healthy attitude and optimistic sprit. WRT the construction workers [the two big industries in Nevada are construction and gaming/entertainment] , it's much different. Also comprised of the same ethnic backrounds, they have taken it very hard. Many being forced to leave Nevada and head back to their countries of origin. BTW, you may have heard or read that several GM dealerships here in LV with network dealerships nationwide went belly up in the summer, before the small 3 of the big 3 went to Congress with tin cups. Carmine D.
This message was modified Dec 26, 2008 by CarmineD
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CarmineD
Joined: Dec 31, 2007
Points: 5894
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Re: I need help choosing a new vacuum
Reply #39 Dec 26, 2008 7:47 am |
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Hi Venson:
Good articles. Nevada has always been on the leading edge of all the good economic indicators in the Country. So, not surprising, in a turn around, it is hardest hit. I'm licensed to bartend by the Nevada state authorities. But have not used the skills yet. Fortunately, my dear Wife and I also sold everything we had in the markets by August 2006, when I retired. Even tho the markets were still heading higher, we thought it was time to go. Bears make money. Bulls make money. Pigs get slaughtered. Whenever you're taking profits, it's a good thing and it was a good decision. Also on a positive note, monthly social security payouts increase 5.8 percent starting Jan 1. Helps the cause. Couple of extra big macs a month. Carmine D.
This message was modified Dec 26, 2008 by CarmineD
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mole
 
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Location: earth
Joined: Sep 30, 2007
Points: 783
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Re: I need help choosing a new vacuum
Reply #40 Dec 26, 2008 9:19 am |
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Thanks Carmine, Great answers you could be right on the MONEY, When do you feel things will turn around?Or should we just get use to this and think that this is just the way its going to be. Has the GREATER society lost its soul???????? MOLE |
CarmineD
Joined: Dec 31, 2007
Points: 5894
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Re: I need help choosing a new vacuum
Reply #42 Dec 26, 2008 5:12 pm |
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Hi MOLE: The quick and short answer: Graphically depicted, the recovery will not be a "V" or even a "U" but an "L." Unfortunately, homo sapiens have to lose it, then find it again, in order to appreciate and savor its value. We'll see euphoria in January 2009, after President Obama's inauguration, spike the markets higher. It will be short-lived. Reality will set in, people will learn that he does not have all the answers, like FDR didn't, and the markets will go back down for the long count. Retailer wise, Wal*Mart is the big winner in 2008 and in 2009. It is the only stock in the Dow 30 that is up this year. According to the latest survey data, WM, onced frequented by buyers with a annual household income of $40,000, upped their ante in 2008. Now, the average household income of WM shoppers is $65,000 annually. Consumers have "traded down" in their retail shopping and WM is the beneficiary. This latest news is the biggest positive retail surprise of the year. There are always winners and losers. WM is the big winner this year in the retail sector. Similarly, the old Wall Street wisdom, buy and hold is dead. Doesn't work anymore. It's buy and sell. Trader is the name of the game. Carmine D.
This message was modified Dec 26, 2008 by CarmineD
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