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LVRJ - Herbst Gaming loses their casinos

Other than that, Mrs. Lincoln, did you enjoy the play?

In a message dated 3/11/2009 11:39:47 A.M. Pacific Daylight Time,
nightoftheiguana2000@yahoo.com writes:

Troy Herbst said. "Even now, our casinos and our routes are generating
positive cash flow. They are making money. It's just the debt that has overwhelmed
us."

**************Worried about job security? Check out the 5 safest jobs in a
recession.
(http://jobs.aol.com/gallery/growing-job-industries?ncid=emlcntuscare00000002)

[Non-text portions of this message have been removed]

Obviously their response to this is ridiculous. But I guess my original
statement was aimed more at the fact at how "numb" we (as a society) have
gotten with big numbers - that is a TON of money, yet its perfectly
acceptable for a small company to default on that. There's large
multi-nationals that don't come anywhere near to $847M in debt. For a
company of this size to go into that much paper, you're talking about some
insane, ridiculous spending as a company culture.
Does anyone remember when $10M was a lot of money? Now its merely a
footnote, a Billion Dollars doesn't raise any concern and multiple Billions
is standard . . . the world is off its rocker!

···

On Wed, Mar 11, 2009 at 1:05 PM, <ezfromnwon@aol.com> wrote:

Other than that, Mrs. Lincoln, did you enjoy the play?

In a message dated 3/11/2009 11:39:47 A.M. Pacific Daylight Time,
nightoftheiguana2000@yahoo.com <nightoftheiguana2000%40yahoo.com> writes:

Troy Herbst said. "Even now, our casinos and our routes are generating
positive cash flow. They are making money. It's just the debt that has
overwhelmed
us."

**************Worried about job security? Check out the 5 safest jobs in a
recession.
(
http://jobs.aol.com/gallery/growing-job-industries?ncid=emlcntuscare00000002
)

[Non-text portions of this message have been removed]

--
Thanks,

Dennis
______________________________
Read about my weight-loss journey:
http://www.healthstewards.com/member_detail.php?id=76&selected=1

[Non-text portions of this message have been removed]

As Senator Everett Dirksen said; "a billion here, a billion there, pretty soon, you're talking real money."

···

--- On Wed, 3/11/09, Dennis Salguero <salguero@gmail.com> wrote:

From: Dennis Salguero <salguero@gmail.com>
Subject: Re: [vpFREE] Re: LVRJ - Herbst Gaming loses their casinos
To: vpFREE@yahoogroups.com
Date: Wednesday, March 11, 2009, 4:49 PM

Obviously their response to this is ridiculous. But I guess my original
statement was aimed more at the fact at how "numb" we (as a society) have
gotten with big numbers - that is a TON of money, yet its perfectly
acceptable for a small company to default on that. There's large
multi-nationals that don't come anywhere near to $847M in debt. For a
company of this size to go into that much paper, you're talking about some
insane, ridiculous spending as a company culture.
Does anyone remember when $10M was a lot of money? Now its merely a
footnote, a Billion Dollars doesn't raise any concern and multiple Billions
is standard . . . the world is off its rocker!

On Wed, Mar 11, 2009 at 1:05 PM, <ezfromnwon@aol. com> wrote:

Other than that, Mrs. Lincoln, did you enjoy the play?

In a message dated 3/11/2009 11:39:47 A.M. Pacific Daylight Time,
nightoftheiguana200 0@yahoo.com <nightoftheiguana20 00%40yahoo. com> writes:

Troy Herbst said. "Even now, our casinos and our routes are generating
positive cash flow. They are making money. It's just the debt that has
overwhelmed
us."

************ **Worried about job security? Check out the 5 safest jobs in a
recession.
(
http://jobs. aol.com/gallery/ growing-job- industries? ncid=emlcntuscar e00000002
)

[Non-text portions of this message have been removed]

--
Thanks,

Dennis
____________ _________ _________
Read about my weight-loss journey:
http://www.healthst ewards.com/ member_detail. php?id=76& selected= 1

[Non-text portions of this message have been removed]

[Non-text portions of this message have been removed]

Executives are gamblers also, it's just that they don't have to worry about paying any bills. What would you do if offered a marker for $10 million that you didn't have to pay off? Read "Fear and Loathing in Las Vegas", it's all in there.

http://en.wikipedia.org/wiki/Fear_and_Loathing_in_Las_Vegas

···

--- In vpFREE@yahoogroups.com, Dennis Salguero <salguero@...> wrote:

Does anyone remember when $10M was a lot of money?

The casino industry is a bit of a different model than most corporations though, since it generally has a huge cash-flow. Their revenues in 2007 were $850 million, which should be more than sufficient to service $850 million in debt. The problems they have are that their debt is actually quite a bit more than that -- $1.18 billion -- and that their cash-flow projections were based on a more robust economy and didn't properly consider the beating the Primm casinos were taking due to competition when they dropped a fortune for them (something like $400 million) from MGM back in '07.

···

To: vpFREE@yahoogroups.com
From: salguero@gmail.com
Date: Wed, 11 Mar 2009 13:49:07 -0700
Subject: Re: [vpFREE] Re: LVRJ - Herbst Gaming loses their casinos

Obviously their response to this is ridiculous. But I guess my original
statement was aimed more at the fact at how "numb" we (as a society) have
gotten with big numbers - that is a TON of money, yet its perfectly
acceptable for a small company to default on that. There's large
multi-nationals that don't come anywhere near to $847M in debt. For a
company of this size to go into that much paper, you're talking about some
insane, ridiculous spending as a company culture.
Does anyone remember when $10M was a lot of money? Now its merely a
footnote, a Billion Dollars doesn't raise any concern and multiple Billions
is standard . . . the world is off its rocker!

On Wed, Mar 11, 2009 at 1:05 PM, <ezfromnwon@aol.com> wrote:

Other than that, Mrs. Lincoln, did you enjoy the play?

In a message dated 3/11/2009 11:39:47 A.M. Pacific Daylight Time,
nightoftheiguana2000@yahoo.com <nightoftheiguana2000%40yahoo.com> writes:

Troy Herbst said. "Even now, our casinos and our routes are generating
positive cash flow. They are making money. It's just the debt that has
overwhelmed
us."

**************Worried about job security? Check out the 5 safest jobs in a
recession.
(
http://jobs.aol.com/gallery/growing-job-industries?ncid=emlcntuscare00000002
)

[Non-text portions of this message have been removed]

--
Thanks,

Dennis
______________________________
Read about my weight-loss journey:
http://www.healthstewards.com/member_detail.php?id=76&selected=1

[Non-text portions of this message have been removed]

_________________________________________________________________
Windows Live™ Contacts: Organize your contact list.
http://windowslive.com/connect/post/marcusatmicrosoft.spaces.live.com-Blog-cns!503D1D86EBB2B53C!2285.entry?ocid=TXT_TAGLM_WL_UGC_Contacts_032009

[Non-text portions of this message have been removed]

Dennis,

I sorta know what you mean - but I think it's more a case of "we (as a society)" not being even remotely capable of getting our minds around just how big the numbers are.

There was a story in The New Yorker magazine a while back that offered this example specifically to help show just how much is being talked about when using "million" and "billion":

"(Try the following thought experiment, . . . Without doing the
calculation, guess how long a million seconds is. Now try to guess
the same for a billion seconds. Ready? A million seconds is less than
twelve days; a billion is almost thirty-two years.)"

Neil M.

···

--- In vpFREE@yahoogroups.com, Dennis Salguero <salguero@...> wrote:

But I guess my original statement was aimed more at the fact at
how "numb" we (as a society) have gotten with big numbers

Dennis,

I sorta know what you mean - but I think it's more a case of "we (as a society)" not being even remotely capable of getting our minds around just how big the numbers are.

There was a story in The New Yorker magazine a while back that offered this example specifically to help show just how much is being talked about when using "million" and "billion":

"(Try the following thought experiment, . . . Without doing the
calculation, guess how long a million seconds is. Now try to guess
the same for a billion seconds. Ready? A million seconds is less than
twelve days; a billion is almost thirty-two years.)"

Neil M.

Neil, et al.,

And of course now we are dealing with "a trillion" in the news. A trillion seconds is around thirty thousand years, or roughly on the order of the timeline of human civilization, depending on who you ask.

Put another way....

$1 trillion in one-dollar bills would cover an area of about 3,857 square miles

$1 trillion in one-dollar bills (if packed perfectly) would fill a volume of about 40 million cubic feet, filling the Hubert Humphrey Metrodome two-thirds full.

$1 trillion in one-dollar bills weighs 1.1 million tons, and, if you stacked a trillion $1 bills on top of each other, you'd form a stack that reached a quarter of the way to the moon -- the stack would be nearly 70,000 miles high.

Things to ponder when the President comes on the tube...

Dave