A Stern Glance

For the record, the following:
“the recession has arrived in Las Vegas and is likely worsen through 2008,” A Stern Glance, August 2007.

The number of housing starts over the next few years will depend on three factors: the underlying demand for new housing units; cyclical and financial conditions, such as unemployment rates and lending standards; and the number of excess vacant units (that is, vacancies exceeding those observed under normal conditions). The Congressional Budget Office (CBO) expects [...]

DISCLOSURE: Stern And Company represents Vestin
THE BASICS:
Alleging that Ken Klaas’s lawsuit is costing Vestin and its shareholders millions of dollars, Vestin sued Ken Klaas. The suit claims:
Breach of Contract: Among other issues, the filing states that Klaas “[Used] the Vestin Client List for his own purpose and to the detriment of Fund II by “bartering” [...]

Casino Empire Takes Fresh Hits (From The Wall Street Journal 11/12/08)
Adelson’s Stake to Fall as Sands Shores Up Financing; Industry Bruised by Downturn
Sheldon Adelson — who has seen the value of his stake in Las Vegas Sands Corp. shrink by roughly $30 billion in the past year — has agreed to a financing deal that [...]

In the early 1960s, any business executive worth his salt would have stated immediately that a company’s job is to make money for its owners. Indeed, Nobel Prize winning economist Milton Friedman argued just that:  that the corporation’s responsibility is to produce profits and that the cost of corporate social goals amounts to a hidden [...]