[las vegas drunk]

This mini-documentary focuses on the current situation in Vegas and whether the pro business free market system in Nevada can overcome the global collapse of the USA. It is told from someone from Los Angeles, but I still found it very interesting as I learned some things I did not know that are going on here.

Thoughts?


YouTube - American Economic Collapse, Las Vegas Day 1


YouTube - American Economic Collapse, Las Vegas Day 2

[mresort]

I think he should focus on his own city, Los Angeles first.
LA has a very diversified economy; it also has one of the best education in the country (UCLA, USC, Cal Tech). The region is not overbuilt, and the foreclosure rate is a lot lower than Las Vegas. In my opinion, the weather is even better than ours too. LA has Pacific Ocean in backyard too.

Do you know the current unemployment rate of Los Angeles City?
It is 14.3%, which is only 0.5% lower than Las Vegas!

Tell me why.

[jfkIII]

The future of Las Vegas...is in its past. Plain and simple.

[Golfinnova]

He rambles for the most part and paints the picture that the commercial vacancy issues are only here which most of us know better. He does correctly point out that as a city built on hospitality, that service has been lacking in the last couple of years. I asked my wife what she thought since she works at a casino and she replied that City Center definately targets the high-roller guests ($9 for a hot dog next to the sports book).

Several tourists complimented her as she was the only cheerful dealer. I see that as well that many employees whether casino, restaurant, gift shop, etc. just are there to get a pay check and are disenchanted with their work but they need to be at work.

I don't know whether Vegas gambling will be all conglomerates though, when you see Gaughan keeping South Point and Siegel revamping Gold Spike downtown it balances the power a little better; however, it will depend on who can keep enough cash on hand to keep things running. Time will tell.

[Willy702]

Originally Posted by jfkIII

The future of Las Vegas...is in its past. Plain and simple.

The future of the city is most certainly not its past. That is unless you are going to get 37 other states to ban casinos again, force over a million people to leave town, and start banning foreigners from being an extremely significant part of the profitability of the city's tourism industry. Barring those changes the future of the city must take into account the huge changes that have happened and make the best of it.

[Spraynard Kruger]

Vegas really hasn't kept it's promise in the value to fun times ratio. In an information age, people know the odds are stacked against them when it comes to gaming, which is why our numbers continue to slide.

We have diversified our offerings when it comes to nightlife, food and as a world class shopping destination. That's one of many positive signs. If those businesses continue to offer good products and services, they deserve to stay in business.

The narrative arc of the documentary assumes that America will experience a total economic collapse. That remains to be seen. I hope that as properties are revalued and change hands that lending is done in a more prudent manner.

This documentary is soft on facts and heavy on fear. Nonetheless, it paints a solid, if a bit "drive by" picture about some of the problems facing our town and the fallout from the financial crisis.

I'm sick of $9.00 hot dogs.

[lyra33]

There is something vital and alive about Vegas that fuels my belief that it's a city that can survive anything thrown its way. Ironically Las Vegas started off as a watering hole for travelers. People are quick to criticize Las Vegas because they only see the surface. They see the bright lights and neon signs and they assume it's just a facade. What they don't see is that this city is tough, it adapts and it bounces back. There is a vibrancy and hope that attracts people to come here even though our unemployment is at 15 percent.

I had the opportunity to leave Vegas for one year and move to a place that promised to be everything Vegas didn't have. I was shocked to see that this small city just did not measure up to Vegas. This experience taught me that Vegas has something special that many other cities do not have. For this I have hope the future of Vegas is just fine.

[skisickie]

We were at the Rio yesterday and the lines to check in were so long on a Sunday? He is just talking out his backside imo

[Willy702]

Rio rates are on the low end these days because they have a lot of just terrible rooms way past overdue for a remodel. Plus almost everyone in the lower reaches of eligibility for comped rooms in the Harrahs system gets offered Rio. A family member asked her host if instead of the Rio, could she stay at Ballys or the Flamingo for her most recent offer and was refused. She told the host she wouldn't have a car most of the time and wanted to be on the Strip, the host said something along the lines of well there is a shuttle that can take you there.

[jfkIII]

Originally Posted by Willy702

The future of the city is most certainly not its past. That is unless you are going to get 37 other states to ban casinos again, force over a million people to leave town, and start banning foreigners from being an extremely significant part of the profitability of the city's tourism industry. Barring those changes the future of the city must take into account the huge changes that have happened and make the best of it.

If LV refuses to provide the old-fashioned value, tourism will steadily decline. That, in itself, won't force the 37 other states to ban casinos...but it may force the million-plus to leave town. I used to go to LV EVERY year...sometimes twice in a year. Haven't been there since 2007...yet wife and I just bought a timeshare in Orlando...and we'll be there next month.

My wife and I are just 2 less visitors per year. You do the extrapolation.