Moderator: Charlie Phillips
spook wrote:I'm not blaming you personally, tommy. I'm just steamed at all the stupidity and arrogance which is destroying a good country. If you want to bet on something that's a sure thing put your money down on the fact that the standard of living in the U.S. is going to drop 30% before it's all over and everything else is just the details.
Mother Theresa wrote:tommy, I'm glad you had a good time, and I'm glad thing appeared reasonably well there, but I believe you were greatly deceived, the gaming industry, like the hospitality industry in general, and like all discretionary spending, is suffering greatly and they were only putting on a good face for you, and you apparently bought it.
Did you know Las Vegas Sands Corp, one of the founders of Las Vegas and owner of many casinos around the world has lost 97% of their value in the past year? One year ago their stock was trading at $118/share. Today it's at $3.23.
What about their competitors?
MGM Mirage is down 89% for the year.
Wynn Resorts is down 76% for the year.
Century Casinos is down 85%
Monarch Casino and Resort Inc is down 74%
Riviera Holding Corp is down 87%
My brother has been in the hospitality industry for over 20 years (buying, selling and managing hotels) and we had a very somber talk the other day. His company is devastated. The whole industry is devastated. The whole global economy is being devastated.
People continue trying to put on a good face, hoping maybe it won't hit them, maybe it's bottoming out, maybe it's turning around, but they're wrong. This is a major crisis that will hit virtually everyone around the world, except for subsistence farmers and the like who are not tied to the global economic network, as all of us are, including you.
Namahottie, thanks for posting that list. Impressive. But it ain't over yet. Not even close.
Namahottie wrote:Just received this email from a viable source:A list of stores that are closing.
Circuit City (filed Chapter 11)
Ann Taylor 117 stores nationwide closing
Lane Bryant, Fashion Bug ,and Catherine's to close 150 stores nationwide
Eddie Bauer to close stores 27 stores and more after January
Cache will close all stores
Talbots closing down specialty stores
Jill closing all stores (owned by Talbots)
Pacific Sunwear (also owned by Talbots)
GAP closing 85 stores
Footlocker closing 140 stores more to close after January
Wickes Furniture closing down
Levitz closing down remaining stores
Bombay closing remaining stores
Zales closing down 82 stores and 105 after January
Whitehall closing all stores
Piercing Pagoda closing all stores
Disney closing 98 stores and will close more after January
Home Depot closing 15 stores
Macys to close 9 stores after January
Linens and Things closing all stores
Movie Galley Closing all stores
Pep Boys Closing 33 stores
Sprint/Nextel closing 133 stores
JC Penney closing a number of stores after January
Ethan Allen closing down 12 stores
Wilson Leather closing down all stores
Sharper Image closing down all stores
K B Toys closing 356 stores
Dillard's to close some stores
Of course, you think, this doesn't apply since I'm in XYZ, but this is the sign of the times in the US. Stores close, lack of purchasing choice, lack of jobs, etc. I suspect 2009 is going to be a rough ride....
Namahottie wrote:1) I left Taiwan why?
2)I'm getting a post-grad why?
Now explain to me again what a MA will do for me?
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