Pelican Parts
Parts Catalog Accessories Catalog How To Articles Tech Forums
Call Pelican Parts at 888-280-7799
Shopping Cart Cart | Project List | Order Status | Help



Go Back   Pelican Parts Forums > Miscellaneous and Off Topic Forums > Off Topic Discussions


Reply
 
LinkBack Thread Tools Rating: Thread Rating: 3 votes, 2.33 average.
Author
Thread Post New Thread    Reply
A Man of Wealth and Taste
 
tabs's Avatar
 
Join Date: Dec 2002
Location: Out there somewhere beyond the doors of perception
Posts: 47,924
As Vegas Goes So Goes America

Las Vegas is one of the symbolic icons of American prosperity and wealth. the others being Detroit, New York City, Washington DC and Hollywood among others. Detroit as the heart and symbol of American industrial power succumbed long ago, now NYC and Vegas are falling as well.

Sands corporation which includes Sands Expo, The Venetian and Palazzo is owned by Sheldon Adelson has been put up for sale for 6B. Revenues have been falling and expenses are high in Vegas so Adelson has decided to sell his American assets and instead rely on his more profitable Macao and Singapore operations.

Wynns Encore resort is closed Monday thru Thursday as there is not enough business to justify keeping it open.

The local Station Casinos has shuttered it's 2 Fiesta, Texas Station and Palms locations

The RIO remains closed and maybe re purposed..then we may see other more marginal properties close down as well

With the Adelson move out of Las Vegas the speculation is that other operations will be sold off as well. Perhaps at bargain pricing? The Convention biz is non existent, and since reopening the crowds that Vegas has been attracting with lower pricing has been less savory. Crime is up dramatically with shootings and fights occurring with regularity on the Strip. Metro police have beefed up their presence to maintain some semblance of civility.

So far residential RE has held up because of the influx of people relocating from other areas.... but the fact remains that 35% of renters are not paying their rent.

__________________
Copyright

"Some Observer"
Old 10-30-2020, 11:03 AM
  Pelican Parts Catalog | Tech Articles | Promos & Specials    Reply With Quote #1 (permalink)
Registered
 
Join Date: Jan 2002
Location: west michigan
Posts: 7,420
With the restrictions on travel and inside buildings...I'm not surprised at all.

The question is...Who would take a chance in todays world to buy one of these huge ventures??.....with no end in sight.
__________________
78 SC Targa Black
84 Carrera Targa White
Old 10-30-2020, 11:19 AM
  Pelican Parts Catalog | Tech Articles | Promos & Specials    Reply With Quote #2 (permalink)
We Were Always Free
 
Seahawk's Avatar
 
Join Date: Jul 2004
Location: Maryland
Posts: 21,690
Our Operations person, who lives in Las Vegas, tells a completely different story.
__________________
1996 FJ80

He has all the virtues I dislike and none of the vices I admire." Winston Churchill
Old 10-30-2020, 11:21 AM
  Pelican Parts Catalog | Tech Articles | Promos & Specials    Reply With Quote #3 (permalink)
Registered
 
vash's Avatar
 
Join Date: Sep 2003
Location: in my mind.
Posts: 29,380
Garage
Send a message via AIM to vash
i wonder if Lake Meads drawdown is less than usually with the diminished demand.

the industry is the casinos..i cant see how its not taking a beatdown the full social spectrum.
__________________
poof! gone
Old 10-30-2020, 11:24 AM
  Pelican Parts Catalog | Tech Articles | Promos & Specials    Reply With Quote #4 (permalink)
A Man of Wealth and Taste
 
tabs's Avatar
 
Join Date: Dec 2002
Location: Out there somewhere beyond the doors of perception
Posts: 47,924
Quote:
Originally Posted by Seahawk View Post
Our Operations person, who lives in Las Vegas, tells a completely different story.
You mean it actually worse than I represented it!!!

I know 1M homes at the Lakes are down to 270K. But in my area they are at post Great Recession highs and have been selling quickly..as inventory is low and interest rates correspond.
__________________
Copyright

"Some Observer"
Old 10-30-2020, 12:09 PM
  Pelican Parts Catalog | Tech Articles | Promos & Specials    Reply With Quote #5 (permalink)
Did you get the memo?
 
onewhippedpuppy's Avatar
 
Join Date: Mar 2003
Location: Wichita, KS
Posts: 29,338
Quote:
Originally Posted by stevej37 View Post
With the restrictions on travel and inside buildings...I'm not surprised at all.

The question is...Who would take a chance in todays world to buy one of these huge ventures??.....with no end in sight.
Weve been to Vegas at least yearly for at least five years in a row. Id love to go back but not wearing a mask and social distancing everywhere. You reap what you sow...
__________________
Matt J.
10 E63 AMG, 09 SL63 AMG
Past: 911T, 911SC, Carrera, 951s, 955, 996s, 987s, 986s, 997s, BMW 5x, C36, C63, XJR, S8, Maserati Coupe, GT500, etc
Old 10-30-2020, 12:22 PM
  Pelican Parts Catalog | Tech Articles | Promos & Specials    Reply With Quote #6 (permalink)
We Were Always Free
 
Seahawk's Avatar
 
Join Date: Jul 2004
Location: Maryland
Posts: 21,690
Quote:
Originally Posted by tabs View Post
You mean it actually worse than I represented it!!!

I know 1M homes at the Lakes are down to 270K. But in my area they are at post Great Recession highs and have been selling quickly..as inventory is low and interest rates correspond.
I have no idea Tabs. We chat every morning before our 0900 GTM when management and engineers vent their spleens and we adjust tasking....then throughout the day as she gently reminds us to stay on schedule.

She is my age, Filipina, worked for me when we were in the government together. We hired her when she retired and we didn't care where she wanted to live...she is a complete wonder of organizational skills and kindness wrapped in iron.

Her extended family works in the Casinos in Vegas in different roles. She simply has a different take on how the Casinos are doing from her families perspective. Hotel rooms are basically free and the casinos are busy.

Your perspective is, of course, different.
__________________
1996 FJ80

He has all the virtues I dislike and none of the vices I admire." Winston Churchill
Old 10-30-2020, 12:36 PM
  Pelican Parts Catalog | Tech Articles | Promos & Specials    Reply With Quote #7 (permalink)
Get off my lawn!
 
GH85Carrera's Avatar
 
Join Date: Nov 2007
Location: Oklahoma
Posts: 64,457
Garage
As an adult I have been to Vegas one time, only because it was on the way from Sacramento, CA to home. We stayed in a old hotel in the old downtown area away from the strip. I gambled a entire quarter on the slot machine in the lobby of the hotel. Lost it all, and reminded myself why I don't gamble.

We ate at a local Burger King for dinner, and got the heck outta there early the next morning. I have never been to the strip. I don't miss it.

If Vegas is waiting on me, they are screwed. We have the worlds largest casino right here in Oklahoma. 600,000 square feet and I have never been and never will go. There is a full blown horse racing track and casino about 7 or 8 miles from my house. In 30 years I have been twice. Lost 20 bucks both times.

https://www.casino.org/blog/10-of-the-worlds-largest-casinos-the-biggest-casinos-ever/
__________________
Glen
44 Year member of the Porsche Club of America
1985 911 Carrera; 2017 Macan
1986 El Camino with Fuel Injected 350 Crate Engine
My Motto: I will never be too old to have a happy childhood!
Old 10-30-2020, 01:25 PM
  Pelican Parts Catalog | Tech Articles | Promos & Specials    Reply With Quote #8 (permalink)
Bannd
 
RWebb's Avatar
 
Join Date: Jul 2007
Location: Greater Metropolitan Nimrod, Orygun
Posts: 55,884
Garage
casinos are for people who don't understand statistics
Old 10-30-2020, 01:30 PM
  Pelican Parts Catalog | Tech Articles | Promos & Specials    Reply With Quote #9 (permalink)
(the shotguns)
 
berettafan's Avatar
 
Join Date: Feb 2006
Location: Maryland
Posts: 15,423
Only been to Vegas 3 or 4 times but what i saw was a hanging by a thread, all its eggs in one basket tourist town surrounded by worker housing. considering gambling would be the very first luxury spending item to go on most folks list of expenses in tough times i feel like Vegas is one heck of a risky play even in good times. not to mention the money/control appears to be in a very few hands with the bulk of the local economy being supported by hourly staff.

that is to say even the slightest of pushes is all it would take to topple Vegas. vegas could be razed to make a homeless shelter and i don't think i'd feel we were close to the end.
__________________
*****************************************
Well i had #6 adjusted perfectly but then just before i tightened it a butterfly in Zimbabwe farted and now i have to start all over again!
I believe we all make mistakes but I will not validate your poor choices and/or perversions and subsidize the results your actions.
Old 10-30-2020, 01:38 PM
  Pelican Parts Catalog | Tech Articles | Promos & Specials    Reply With Quote #10 (permalink)
Did you get the memo?
 
onewhippedpuppy's Avatar
 
Join Date: Mar 2003
Location: Wichita, KS
Posts: 29,338
I don’t gamble and I love Vegas. So much to do and see, and if nothing else the people watching is incredible.
__________________
Matt J.
10 E63 AMG, 09 SL63 AMG
Past: 911T, 911SC, Carrera, 951s, 955, 996s, 987s, 986s, 997s, BMW 5x, C36, C63, XJR, S8, Maserati Coupe, GT500, etc
Old 10-30-2020, 01:39 PM
  Pelican Parts Catalog | Tech Articles | Promos & Specials    Reply With Quote #11 (permalink)
Registered
 
Join Date: Jan 2002
Location: west michigan
Posts: 7,420
^^^ exactly...you never know what you might see in Vegas.
Worth it just for that.
A couple years ago, was walking down the strip and a limo stopped and J-Lo stepped out and said 'Hi' to me. Made me feel real good!
__________________
78 SC Targa Black
84 Carrera Targa White
Old 10-30-2020, 01:43 PM
  Pelican Parts Catalog | Tech Articles | Promos & Specials    Reply With Quote #12 (permalink)
 
Registered
 
Join Date: Apr 2002
Location: Greensboro, NC
Posts: 23,110
I know something that you will never, ever see in Vegas....

Me
Old 10-30-2020, 01:48 PM
  Pelican Parts Catalog | Tech Articles | Promos & Specials    Reply With Quote #13 (permalink)
Registered
 
Join Date: Jan 2002
Location: west michigan
Posts: 7,420
^^^ J-Lo or KC ???
easy decision.
__________________
78 SC Targa Black
84 Carrera Targa White
Old 10-30-2020, 01:51 PM
  Pelican Parts Catalog | Tech Articles | Promos & Specials    Reply With Quote #14 (permalink)
jyl jyl is offline
Registered
 
jyl's Avatar
 
Join Date: Jan 2002
Location: Nor California & Pac NW
Posts: 21,265
Garage
I used to go to Vegas often for conferences. Have never gambled in a casino, not my thing. My favorite places to stay were the Venetian and Bellagio.
__________________
1989 3.2 Carrera coupe
1988 Westy Vanagon, Zetec conversion
Really want to find a clean E28 . . .
Old 10-30-2020, 01:59 PM
  Pelican Parts Catalog | Tech Articles | Promos & Specials    Reply With Quote #15 (permalink)
Registered
 
Join Date: Feb 2006
Location: somewhere between here and there
Posts: 7,474
Isn't LV a cartoon of America?
Old 10-30-2020, 02:10 PM
  Pelican Parts Catalog | Tech Articles | Promos & Specials    Reply With Quote #16 (permalink)
Registered
 
biosurfer1's Avatar
 
Join Date: Oct 2003
Location: Roseville, CA
Posts: 2,887
It's only a matter of time before they rebound. You STRONGLY underestimate the desire for lots of people to gamble.

Tahoe really hasn't opened up fully yet, but more than Vegas, and here are the results so far.
https://www.tahoedailytribune.com/news/stateline-casinos-post-nevadas-biggest-win-for-september/
__________________
1992 968 Polar Silver
2010 Toyota Highlander SE
2006 Lexus LS430 ML
Old 10-30-2020, 02:12 PM
  Pelican Parts Catalog | Tech Articles | Promos & Specials    Reply With Quote #17 (permalink)
Registered
 
pwd72s's Avatar
 
Join Date: Apr 2001
Location: Linn County, Oregon
Posts: 40,365
Quote:
Originally Posted by RWebb View Post
casinos are for people who don't understand statistics
Or pool players entering major tournaments. Sometimes the same. Many pool players are degenerate gamblers. That's why casinos love to host tournaments.

That said, I witnessed a decline in a local economy...when the greens pretty much did all they could to kill Oregon's timber industry. The plywood plant on one end of town closed, followed by the paper plant on the other end. It wasn't pretty. Many here lost everything. A lot of good people left the area, never to return home.

So, although I've never been there, I feel sad for many in Las Vegas. Especially those finding themselves suddenly out of a job, with mortgages they'll have to walk away from.
__________________
"Now, to put a water-cooled engine in the rear and to have a radiator in the front, that's not very intelligent."
-Ferry Porsche (PANO, Oct. '73) (I, Paul D. have loved this quote since 1973. It will remain as long as I post here.)

Last edited by pwd72s; 10-31-2020 at 08:43 AM.. Reason: spelling
Old 10-30-2020, 02:20 PM
  Pelican Parts Catalog | Tech Articles | Promos & Specials    Reply With Quote #18 (permalink)
Registered
 
sugarwood's Avatar
 
Join Date: Apr 2014
Posts: 8,022
Garage
Quote:
Originally Posted by GH85Carrera View Post
As an adult I have been to Vegas one time,
Yea, you didn't go to Vegas.
You went to a rest stop.

Vegas has almost nothing to do with casinos.
That's not why people under 40 go there.
They probably don't even realize there are casinos in Vegas.
__________________
1986 Bosch Icon Wipers coupe.
Old 10-30-2020, 02:24 PM
  Pelican Parts Catalog | Tech Articles | Promos & Specials    Reply With Quote #19 (permalink)
Never banned
 
sc_rufctr's Avatar
 
Join Date: Feb 2009
Location: Adelaide South Australia
Posts: 26,294
Send a message via MSN to sc_rufctr
Quote:
Originally Posted by RWebb View Post
casinos are for people who don't understand statistics
Which is most people.

---

Vegas is on my bucket list


__________________
Peter
Old 10-30-2020, 04:53 PM
  Pelican Parts Catalog | Tech Articles | Promos & Specials    Reply With Quote #20 (permalink)
Reply

Thread Tools
Rate This Thread
Rate This Thread:

 


All times are GMT -8. The time now is 03:44 AM.


 
Powered by vBulletin® Version 3.8.7
Copyright ©2000 - 2021, vBulletin Solutions, Inc.
Search Engine Optimization by vBSEO 3.6.0
Copyright 2020 Pelican Parts, LLC - Posts may be archived for display on the Pelican Parts Website -    DMCA Registered Agent Contact Page
 

DTO Garage Plus vBulletin Plugins by Drive Thru Online, Inc.