Wealth of Las Vegas richest folks rises less than stock market

Posted on by October 18, 2017
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See update at end of post

I don’t know how your last 12 months have gone. But the nine richest people around Las Vegas collectively are more than $5 billion richer than they were a year ago.
The 36th edition of the Forbes 400 list came out today, and the estimated net worth of the nine entrants from the Las Vegas area totals $55.6 billion. That’s up from $50.1 billion.

Normally, a 11% jump in one year would be nothing to laugh at. But this year it actually is. That’s because the S&P 500 index rose 16.2% in that same period. As a group, the Vegas Nine would have done better by throwing it all in a big Vanguard mutual fund and spending the year on a beach. Hell, you might have done better than they did in your own IRA or 401(k).

Sheldon Adelson, the 84-year-old casino tycoon whose family also owns the Las Vegas Review-Journal, the state’s largest newspaper, retains by far the title of richest man in Las Vegas (and Nevada). He remains No. 14 on the Forbes list, with a net worth of $35.4 billion, up $3.6 billion from last year.

Here are the others:

Continue reading →

Las Vegas massacre brings out worst of blogosphere

Posted on by October 3, 2017
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Las Vegas massacre

Mandalay Bay Resort and Casino (via Wikipedia)

Within a few hours of last night’s horrendous Las Vegas Strip massacre, various outlets on the blogosphere had identified the killer. In my New To Las Vegas home just a few miles from the crime scene, I watched on the Internet overnight as they displayed his name, his picture, his hometown–Reno–his age. There was no confirmation of any of this from Las Vegas authorities.

The blogosphere outlets, generally of a conservative persuasion, especially had this–the murderer was a supporter of the liberal MSNBC pundit Rachel Maddow and other progressive causes. I presume this connection was intended to diffuse the certain-to-come allegations that right-wing objections to gun control laws had fostered the carnage.

Small problem here: The outlets identified the wrong person. Completely and totally.

Later in the early hours of today, Clark County Sheriff Joseph Lombardo identified the sole shooter firing across the Strip from the Mandalay Bay Resort and Casino at the Route 91 Harvest Festival as Stephen Paddock, 64, of Mesquite, Nev. That’s a growing retirement community on the Arizona state line 85 miles northeast of Las Vegas.

Since then, some of the posts have come down, and others have been updated. But I haven’t seen many apologies. That’s something purveyors of fake news aren’t very good at, even when they’re so conclusively exposed. Continue reading →

Far from Las Vegas, the racism of the National Anthem

Posted on by September 25, 2017
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racism of the National Anthem

Francis Scott Key (portrait attributed to Joseph Wood)

All of America is talking today about NFL player conduct yesterday during the playing of the National Anthem. President Donald J. Trump called the sit-down protests a lack a patriotism rather than, say, a reaction to police brutality like what Seattle Seahawks player Michael Bennett recently alleged against Las Vegas police.

I would like to suggest folks focus on some of the words in “The Star-Spangled Banner” and the character of its lyricist, Francis Scott Key. In my judgment both are racist beyond belief.

Don’t believe me?

Let’s first take a look at the National Anthem’s rarely sung third stanza. The passage explicitly envisions and welcome the killing of fleeing slaves even as it extols “the land of the free and the home of the brave:”

And where is that band who so vauntingly swore
That the havoc of war and the battle’s confusion,
A home and a country should leave us no more!
Their blood has washed out their foul footsteps’ pollution.
No refuge could save the hireling and slave
From the terror of flight, or the gloom of the grave:
And the star-spangled banner in triumph doth wave
O’er the land of the free and the home of the brave!  

The reference to refuge of the slave refers to the fact that British ships in Baltimore Harbor during the War of 1812 were offering to take away runaway slaves, something that Key fought during his professional life. Oddly, that is somewhat the conceit behind Lincoln’s Emancipation Proclamation a half-century later. Indeed, the slaves who fled to the Brits represented the largest emancipation of blacks until Lincoln. Continue reading →

One Las Vegas official should watch what she wishes for

Posted on by September 25, 2017
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See update at end of post

In today’s Sunday edition of the Las Vegas Review-Journal, Clark County Treasurer Laura B. Fitzpatrick ran a big ad saying that quarterly property taxes were due in a week, on October 2. Folks were advised that they could see what they owed by going to the Treasurer’s web site.

Oops! Here’s what taxpayers saw for hours all day long when they tried to access the tax info:

Las Vegas official

I assume the part of the Treasurer’s site with this information crashed under the weight of inquiries from many of Clark County’s 2 million residents. (I tried using different computers and browsers, all with the same result.)

To me, there are several noteworthy points here:

  • An IT tech should be put on overtime any non-business day a government agency runs an ad with the headline, “Reminder of Property Taxes Due.”
  • Government officials should be prepared for the possibility their efforts will succeed.
  • The Clark County Treasurer is an elected position, next facing the voters in 2018.

Meanwhile, still New To Las Vegas, I’ll try again on Monday after the IT staff gets in.

  Follow William P. Barrett’s work on Twitter by clicking here.

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Updated on Monday, September 25, 2017, at 9:00 am

A full 24 hours after I first started looking online for my quarterly property tax bill at the written invitation of Clark County Treasurer Laura B. Fitzpatrick, things aren’t any better:

Las Vegas official

Notwithstanding the language here, I should point out that the Clark County Website is fine. It’s just the property tax bill inquiry page that isn’t working.

Charity solicitation regulation in Nevada and Las Vegas is elusive

Posted on by September 18, 2017
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Charity regulation in NevadaIn 2013 Nevada passed a law bolstering its regulation of most charities soliciting for donations, especially over the telephone. Among other things, the law required such charities to file with the Nevada Secretary of State’s Office a financial report such as an IRS Form 990, which the agency “shall … post” on its website. A would-be donor contacted by a cold-calling telemarketer could determine if this was one of the many that spend only 10% or less of donations on its professed charitable cause.

But four years later, the secretary of state’s office still doesn’t post the required financial reports or 990s on its website. Nor does that agency or the Nevada Attorney General’s Office do much to make sure that charities asking Nevadans for their hard-earned dollars are on the up and up or to provided all the needed information. It doesn’t appear, for example, that either of the agencies, which by law share jurisdiction over charities, has even a single staffer devoted exclusively to charitable regulation. The secretary of state’s office is so sloppy that, until I pointed it out, the website listed citations to state law repealed several years ago.

Civil penalties? Cease and desist orders? Revocation of solicitation permissions? Not in Nevada.

I’ve only been New To Las Vegas for barely a year. But as as many of you know, I’ve been writing about charities for decades. To me it’s clear that as it’s being implemented, the Nevada system for overseeing charities is exceedingly weak and an open invitation for sharpies. I put that very observation in writing to flaks for both the SOS and AG–they are elected officials–asking for a response, and got none.

To gain a wider local audience, I’ve written a long essay about the shortcomings I see for The Nevada Independent. This is an donor-funded online news site recently founded by the well-known Nevada journalist Jon Ralston focusing on policy and politics in the Silver State.

Some of the material will be familiar to visitors to this blog, but there’s lots of new stuff. I invite you to read the article by clicking here.

And if you live in Nevada, weep.

Follow William P. Barrett’s work on Twitter by clicking here.

It Didn’t Stay Here: Las Vegas trip by alleged Michigan embezzler

Posted on by August 24, 2017
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It Didn't Stay Here

Michelle Schneider (courtesy Grand Traverse County, Mich.)

The bug light known as Las Vegas glows far and wide. To remote corners of the country. Places like, say, Traverse City, Mich. That’s a remote, cultured scenic burg of 15,000 on an inlet off the eastern shore of Lake Michigan near the northern tip of Michigan’s Lower Peninsula. (Just before becoming New To Las Vegas, I put Traverse City on a Forbes retirement list.) The town is 2,000 miles from Las Vegas.

If the Traverse City authorities are to be believed, Michelle Schneider saw the glow. They say she embezzled funds from the Traverse City community college where she had worked as a technology specialist for four years to fund a number of personal expenses, including at least one trip to Las Vegas.

Schneider, 46, of suburban Grawn (yep, that’s the name of a place), faces one count of embezzlement for using a credit card issued by Northwestern Michigan College to charge up more than $9,000 in unauthorized expenses. She pleaded not guilty earlier this month in Michigan’s state court system and awaits further proceedings.

That’s enough to earn a nomination to my list It Didn’t Stay Here. The roster highlights folks in difficulties elsewhere for something that happened in Vegas. It’s a mildly satirical refutation of the incredibly well-known marketing pitch of the Las Vegas Convention and Visitors Authority, “What Happens Here, Stays Here.” The full list sits elsewhere on this page. Continue reading →