Wynn Resorts CEO Rips Obama In Earnings Conference Call With Analysts

Whenever a prominent business leader like Warren Buffett says anything good about the current White House resident, the media are quick to report it.

I highly doubt anti-Obama comments made Monday by Las Vegas casino magnate Steve Wynn during an earnings conference call with analysts will get anywhere near that kind of attention (video follows with transcript and commentary):

William Lerner - Deutsche Bank Securities

Steve, just 2 development questions for you. One in Macau, one in Vegas. Does it -- maybe you're already contemplating this formally, but does it make sense to build residential or villas in Macau, #1? And then #2, in Vegas, especially as I hear Marilyn talk about, a month like October for example, that there's not an inch of meeting square footage left in Las Vegas and as we think about limited or no supply over the next several years, being added back to Las Vegas, does it not make sense to expand your meeting square footage? I know you can do it east of country club or in that area?

Stephen Wynn

Well, here's our problem. There are a host of opportunities for expansion in Las Vegas, a host of opportunities to create tens of thousands of jobs in Las Vegas. I know that I could do 10,000 more myself and according to the Chamber of Commerce and the Visitors Convention Bureau, if we hired 10,000 employees, it would create another 20,000 additional jobs for a grand total of 30,000. 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, "Oh 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 or 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 to 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.

There's so much in this that's newsworthy if you're an impartial journalist actually interested in disseminating the news rather than impacting it.

First, Wynn claims to be a Democrat. When Republicans openly criticize Republicans, that's big news to Republican-hating media. That should also be the case when Democrats openly criticize Democrats.

Unfortunately, it's not.

Beyond this, we are a nation struggling with high unemployment. The Left and their media minions say it's because government isn't doing enough. They claim corporations are sitting on piles of cash because the public sector hasn't spent a large enough sum of money to stimulate consumer demand.

Such nonsense spews from New York Times columnist Paul Krugman on a weekly basis.

But here's a Democrat business owner saying on a conference call with analysts:

[T]his 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...[I]t 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...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.

If Obama was a Republican, and the nation was suffering from 9.2 unemployment, Wynn's comments would be headline news from coast to coast, especially as we are now less than sixteen months away from a presidential election.

As of 9:30 AM, according to Google news, this has yet to get much attention from Obama's fans in the press.

I wonder why.

(H/T Business Insider via my buddy Shekhar Jain)

*****Update: Another reason this should garner significant media attention is Wynn voted for Obama. Here's a video where he admits it (relevant section at 1:00, grateful h/t Wife Mother Daughter):

If Obama was a Republican, one can imagine a loop of Wynn saying he voted for him followed by his negative comments two and a half years later.

Why is that not likely going to be the case now?


Please support NewsBusters today! [a 501(c)(3) non-profit production of the Media Research Center]

DONATE

Or, book travel through MRC’s Travel Discounts Program! MRC receives a rebate for each booking when you use our special codes.

BOOK NOW

Economy 2012 Presidential Steve Wynn
Noel Sheppard's picture