Posted in the Las Vegas Forum
#1 Jan 26, 2013
I was just wondering, how is the economy there?
Who do you think is the cause for our bad economy?
#2 Jan 27, 2013
Unemployment is still widespread in Las Vegas. The economy certainly has not recovered here. The cause of the bad economy is due to the fact Las Vegas's economy is not diversified. Gaming is the number one industry. Las Vegas used to have a monopoly on gaming. Las Vegas no longer has a monopoly on gaming. Macau is the gaming capitol of the world. Singapore is second in the running. Las Vegas is now number three in the world when it comes to gaming. MGM Resorts International is the largest employer in Las Vegas. Since 2008, they have been running at a net loss except for one quarter. MGM Resorts International owns over 50 percent of the Las Vegas Strip. Gaming revenues for the month of November dropped 11.99 percent on the Las Vegas Strip compared to the same month a year ago. Some local economists predict gaming revenues will fall for the month of December 2012 and January 2013 in Las Vegas. Air passenger traffic is predicted to drop the first six months of 2013 at McCarran International Airport in Las Vegas. *****More importantly, if you have a family, you should be aware Nevada has the lowest high school graduation rate in the nation*****. Plus, Las Vegas is facing a water shortage. Lake Mead provides 90 percent of the water to Las Vegas. The lake is 51 percent full. Nevada does not have senior water rights to the lake. Las Vegas is racing to secure water from the northeastern part of Nevada. The BLM has given the SNWA the right to build a water pipe from northeastern Nevada to Las Vegas. However, SNWA does not have any water rights. The water pipe will serve no purpose without water rights. Ranchers in northeastern Nevada have filed several lawsuits to put a stop to any water pipe, citing environmental concerns. The state of Utah may enter the arena and try to stop the water pipe, citing environment concerns. This matter could be tied up in the courts for years. Nevada has the highest electrical rates out of all the western states. To put it bluntly, if you have a family, I certainly would not want to raise them in Las Vegas because of the deplorable educational system. Additionally, medical care is not good in Las Vegas.
#3 Jan 27, 2013
"A coalition of 24 self-funded insurance plans is urging Las Vegas hospitals to improve their quality of care which is ranked as some of the worst in the nation to earn the business of its 260,000 patients."
*****The medical care still has not improved in Las Vegas.
"Nevada has the lowest high school graduation rate of any state in the nation, according to data released Tuesday by the U.S. Education Department."
"And by all indications the region is only going to get dryer. Scientists predict devastating effects from global warming, conservationists are calling for a halt to growth in Southern Nevada as a way to preserve supplies and water managers are looking to ever more creative ways to reduce reliance on the overburdened Colorado River. A Colorado River reservoir at Lake Mead is the source of 90 percent of the valley's water supply. Water levels there have fallen steadily for nearly a decade."
"Now Southern Nevada water managers say they can no longer rely on the river so heavily, and must construct a massive pipeline to draw water stored underground for centuries in rural Nevada to Las Vegas. They say no amount of conservation can replace the need for this backup source of drinking water."
"Opponents say the effects of the pumping would be devastating and that the plan would sacrifice a rural, ranching way of life in Eastern Nevada for casinos and tract home in the south."
The article leaves out the fact the Las Vegas Valley Water District is building a another intake pipe in Lake Mead. If it is not completed this year (2013), the water level of Lake Mead could drop below existing water intake pipes, and Las Vegas would be out of water. It is a very serious problem.
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