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Thread: Wynn CEO Goes On Epic Anti-Obama Rant On Company Conference Call

  1. #1

    Default Wynn CEO Goes On Epic Anti-Obama Rant On Company Conference Call

    Earnings calls usually aren't this interesting...

    Wynn CEO Goes On Epic Anti-Obama Rant On Company Conference Call
    Joe Weisenthal | Jul. 18, 2011, 6:51 PM


    Who doesn't love a good rant?

    We certainly do, and as usual, Steve Wynn, the CEO of casino company Wynn Resorts, delivered on his company's quarterly conference call today.

    Via Seeking Alpha, here's the crux of it:

    I believe in Las Vegas. I think its best days are ahead of it. But I'm afraid to do anything in the current political environment in the United States. You watch television and see what's going on on this debt ceiling issue. And what I consider to be a total lack of leadership from the President and nothing's going to get fixed until the President himself steps up and wrangles both parties in Congress. But everybody is so political, so focused on holding their job for the next year that the discussion in Washington is nauseating.

    And I'm saying it bluntly, that this administration is the greatest wet blanket to business, and progress and job creation in my lifetime. And I can prove it and I could spend the next 3 hours giving you examples of all of us in this market place that are frightened to death about all the new regulations, our healthcare costs escalate, regulations coming from left and right. A President that seems, that keeps using that word redistribution. Well, my customers and the companies that provide the vitality for the hospitality and restaurant industry, in the United States of America, they are frightened of this administration.And it makes you slow down and not invest your money. Everybody complains about how much money is on the side in America.

    You bet and until we change the tempo and the conversation from Washington, it's not going to change. And those of us who have business opportunities and the capital to do it are going to sit in fear of the President. And a lot of people don't want to say that. They'll say, God, don't be attacking Obama. Well, this is Obama's deal and it's Obama that's responsible for this fear in America.
    The guy keeps making speeches about redistribution and maybe we ought to do something to businesses that don't invest, their holding too much money. We haven't heard that kind of talk except from pure socialists. Everybody's afraid of the government and there's no need soft peddling it, it's the truth. It is the truth. And that's true of Democratic businessman and Republican businessman, and I am a Democratic businessman and I support Harry Reid. I support Democrats and Republicans. And I'm telling you that the business community in this company is frightened to death of the weird political philosophy of the President of the United States. And until he's gone, everybody's going to be sitting on their thumbs.
    Later in the call, he rants again about how hard it is to visit America (due to Homeland Security and visa issues), and what that means for Chinese visitors.

    Read more: http://www.businessinsider.com/wynn-...#ixzz1SW18aFUO

  2. #2
    Everyone's got an angle on madness...

    I would rant about the poorly-spell-checked transcript, myself.

  3. #3
    Dread this isn't news. The CEO is just saying what everyone already knows. Though a conference call is a strange place to do a rant I guess it makes it somewhat newsworthy.

  4. #4
    De Oppresso Liber CitizenCain's Avatar
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    Quote Originally Posted by Lewkowski View Post
    Dread this isn't news. The CEO is just saying what everyone already knows.
    Seems to pass as news in every other arena, so why not this one?

    If nothing else, it can't hurt to reiterate the point that compliance with thousands of pages of bureaucratic crap is very expensive and dampens growth. Not to mention that it's nice to hear someone say something negative about Obama after a decade of hearing about how shitty Bush is, and the utter silence that ensued when Obama expanded the worst of the Bush administration's policies.
    "I predict future happiness for Americans if they can prevent the government from wasting the labors of the people under the pretense of taking care of them."

    "The tree of liberty must be refreshed from time to time with the blood of patriots and tyrants."

    -- Thomas Jefferson: American Founding Father, clairvoyant and seditious traitor.

  5. #5
    Yeah, I never hear people complaining about Obama.

    About time someone did.
    I could have had class. I could have been a contender.
    I could have been somebody. Instead of a bum
    Which is what I am

    I aim at the stars
    But sometimes I hit London

  6. #6
    It's the kind of public rant that was commonplace and praised in the media during the Bush years. Just the usual seesaw turning.

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