checklist goes to Vegas, you're all invited & I'll buy
Well I'm in Vegas. Checking out the place, which is as always a huge, interesting, human zoo.
Last night some friends and I went to the Cat House at the Luxor, it was aggravatingly loud so I left early and crashed. I really don't dig loud night clubs.
So today I rented a Ferrari and drove around Vegas until I was thoroughly lost and far over the mileage limit, finally got the thing parked. It needs an alignment. Now I need some lunch and then I'm going watch shopping. And then I'm going to put more miles on the car, I'm sure they are going to hate me when I bring it back.
I have no frame of reference to know if business is good right now, but it is very busy. People everywhere, doing everything. I talked to a couple taxi drivers, a bartender, the usual suspects. They all commented that business was better than last year but still noticeably down from the years immediately prior. No big surprise there as Vegas statistics are public information. Hotel rooms are cheap and they are willing to deal on them, thats clearly a sign that demand isn't super-strong. I'll keep chatting with the locals about business and so forth. Last time I got a manger at Wynn to sit down and talk to me about business, he recommended NOT buying casino shares at the time (Jan 2009). That was good advice at that time. We'll see what they say this time.
But in any case my fine fellow fools, if any of you happen to be in Vegas and want to meet a very foolish fool, post here & lets get together. I'll buy for everybody as long as it isn't a strip bar as I just can't dig those.
I'll post whatever thoughts, perspectives & info I get on Vegas below also.
It is clear that the sense of desperation that hung over the city in January has eased. In January... this town would have thrown in a few souls for anybody who wanted a VIP suite or to rent an expensive car. This time around... much calmer, much less needy, much lower desperation level.