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A 'Wynning' Statement on the Economy

04/21/2010

Billionaire Steve Wynn is best known for creating the modern Las Vegas mega-hotel. His Mirage resort set a new standard for Las Vegas properties, and the town has never been the same since. Recently, however, Wynn is becoming known for what I think is an even better achievement. Wynn now can be counted on to speak his mind in opposition to government policies.

In a recent interview with Bloomberg, Wynn made the following bold proclamation:

“The governmental policies in the United States of America are a damper, a wet blanket… They retard investment, they retard job formation, they retard the creation of a better life for the citizens in spite of the rhetoric of the president.”

Now, that’s what I call a bold statement, especially considering that it comes from the CEO of a publicly traded company. Will we start to see more CEOs stand up and speak out on what they think of the current administration’s policies? I suspect not, as not too many CEOs are willing to risk public and governmental repercussions.

I do, however, suspect that many CEOs are quietly cheering what Steve Wynn said in that interview -- even though they aren’t likely to follow his intrepid lead.

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