Steve Wynn Changing Las Vegas - 1448 Words

Steve Wynn: Changing Las Vegas Introduction Even if you have never been to Las Vegas you have heard of Steve Wynn or one of his hotels, but what people do not know is the impact Steve had on the way we know Las Vegas today. Steve Alan Weinberg was born January 27, 1942 to Michael and Zelma Weinberg in New Haven, Connecticut. Four years after Steve was born his father changed their name from Weinberg to Wynn to avoid anti-Semitic lifestyle for his family. Steve’s father ran a bingo parlor and moved to Las Vegas in 1952 for a short time before moving to upstate New York where Steve would attend The Manlius School and later graduate the University of Pennsylvania. (Wynn, 2015) Early Years Following his fathers death of a heart attack in†¦show more content†¦Wynn would go on to renovate the Golden Nugget and turn it into one of the finest hotels on the strip. Wynn expanded the Golden Nugget by adding three additional hotel towers and remodeling the faà §ade. (Burbank, 2010) Steve Wynn: Creating A Legacy After establishing himself on in Las Vegas Wynn expanded to Atlantic City where he would build another Golden Nugget hotel and casino, which he later sold for a $260 million profit, among accusations that he was involved with New York mobster Anthony Salerno. With his focus once again on the strip, Wynn received enough loans and credit to building what would become the Mirage, a then record setting $620 million hotel. With the completion of the Mirage it changed the face of the struggling run down strip. The Mirage was considered the first â€Å"Megaresort† and was intended to impress the middle and upper class tourists and inspired other hotels to build similar resorts, such as the MGM Grand, Luxor and Excalibur. In 1993, Steve Wynn erected another megaresort right next to the Mirage and named it Treasure Island. Treasure Island is a 32-story hotel-casino and ha a live simulated pirate ship battle that is preformed every fifteen minutes. A year after The Mirage opened; Siegfr ied Roy started preforming nightly from 8 P.M. to midnight on the hour. Another attraction that started at the Mirage was Cirque De Soleil, whichShow MoreRelatedWynn Resort1511 Words   |  7 PagesHistory Wynn Resorts, LTD was formed by former Mirage Resorts Chairman/CEO Steven Wynn on October 25, 2002, who currently serves as the Chairman of the Board and CEO of Wynn. His knowledge of the gambling and casino industry is indispensable to Wynn Resorts, as he is accredited to turning the luxury casino industry in Las Vegas into what it is today. Wynn’s mission is: â€Å"A commitment to providing an elegant environment, high quality amenities, a superior level of service and distinctive attractionsRead MoreA Brief Features Of Bellagio Is A Resort, Luxury Hotel And Casino On The Las Vegas Strip1494 Words   |  6 Pages  Bellagio is a resort, luxury hotel and casino on the Las Vegas Strip in Paradise, Nevada. It is owned by MGM Resorts International and was built on the site of the demolished Dunes hotel and casino. Inspired by the Lake Como town of Bellagio in Italy, Bellagio is famed for its elegance. One of its most notable features is an lake between the building and the St rip, which houses the Fountains of Bellagio, a large dancing water fountain synchronized to music. Inside Bellagio, Dale Chihuly s FioriRead MoreMgm Case Analysis4401 Words   |  18 Pagesby the most recent economic recession, but is on a slower than predicted road to recovery. Nevertheless, many leading analysts view MGM as a worthwhile long- term investment. In fact, within the MGM conglomerate, Mandalay Bay, Bellagio, and MGM Las Vegas experienced double- digit EBITDA growth in 2010 and were projected to grow even more in 2011.2 Yet, despite its isolated wins and the subtle optimism in the financial community toward the gaming industry as a whole, MGM faces significant concernsRead MoreMgm Resorts International Final Report2296 Words   |  10 PagesThe Company HISTORY (Appendix A) In 1967, the billionaire Kirk Kerkorian decided to start investing in Las Vegas. The first MGM Grand opens in 1973 on Las Vegas Boulevard. Five years later a second MGM Grand opens in Reno. The name MGM Grand derived from the Metro-Goldwin-Mayer movie studio where Kerkorian was the former owner. Unfortunately, in the 1980 the MGM Grand Las Vegas suffers of one of the worst high-rise fires in United States history and claims 87 lives. Kerkorian sells his twoRead MoreOne Significant Change That Has Occurred in the World Between 1900 and 2005. Explain the Impact This Change Has Made on Our Lives and Why It Is an Important Change.163893 Words   |  656 Pagesvariety of diversified places and occupations in the hope that one would provide a return on the investment. The specifics of this family economy changed in accordance with local family structures, inheritance customs, patterns of land tenure, and changing opportunities to acquire property and status at home and abroad. The experience of migration might also alter the original intentions of the migrant and his family, creating new desires to relocate either all or a portion of the family abroad rather

U.s. Foreign Policy During The Cold War - 1912 Words

Introduction â€Å"I believe that it must be the policy of the United States to support free peoples who are resisting attempted subjugation by armed minorities or by outside pressures.† This declaration, made by former President Harry S. Truman on March 12, 1947, is part of the Truman Doctrine, and was the basis for U.S. involvement in Western Europe throughout the Cold War. Although the North Atlantic Treaty, and the resulting North Atlantic Treaty Organization (NATO), was established during the Cold War â€Å"to keep the Russians out, the Americans in, and the Germans down,† NATO has persisted since the collapse of the Soviet Union in 1990. This essay will seek to examine the U.S. decision to create and participate in NATO. It will begin by providing a history of NATO and the U.S. decision to participate in NATO before considering how this decision is both an instance of continuity and change in U.S. foreign policy since former President George Washington’s Farewell Addr ess. The essay will conclude by considering the legacy of this decision and its impact on U.S. foreign policy. While this essay will consider the period of time leading up to the formation of NATO and will briefly touch on the present day, greatest consideration will be paid to the time period immediately preceding and following the formation of NATO in 1949. Formation of NATO Following the end of World War II, the United States became increasingly concerned with the perceived threat of Soviet aggression inShow MoreRelatedU.s. Foreign Policy During The Cold War Essay918 Words   |  4 PagesThe overview of The U.S. Foreign Policy The objective of ‘the U.S. foreign policy’ course is to develop personal ability for applying IR theories to the U.S. foreign policy. Then, students will be able to understand the direction as well as the grounds of the U.S. foreign policy. To achieve this objective, I will discuss major the theoretical issues through the brief history of the U.S. foreign policy until the Cold War. After that, I will examine the challenges which the U.S. confronts. One ofRead MoreKorean War : The Cold War1598 Words   |  7 Pageshad already seen two appallingly destructive and costly World wars, just as the Cold War between the Soviet Union and the United States broke due to their ideological differences after World War II, in the midst of the Cold War was the Korean War. The Korean War began on June 25, 1950 when the North Korean People’s Army poured across the 38th parallel, a border between South and North Korea, to attack South Korea. The size of the war quickly grew as it began to involve countries like China, SovietRead MoreAmerican Strategy For U.s. Foreign Policy829 Words   |  4 PagesWalter Russel Mead, a Senior Fellow for U.S. Foreign Policy at the Council on Foreign Relations, believes that â€Å"American strategy for U.S. foreign policy is shaped from four distinct schools of thought: Hamilton and his protectionist toward commence, Wilson and his sense of moral principles; Jefferson and his maintenance of our democratic system; and Jackson, the advocate of populist values and military might.† Henry Kissinger argued that one of these schools has dominated American strategy and statedRead MoreU.s. Foreign Policy Approaches1424 Words   |  6 PagesThe United States (U.S.) uses two approaches to their foreign policy. The first approach is realism. This viewpoint stresses that the principal actors, states, will pursue their own interests in an anarchical world. States will try to establish a balance of power that restrains aggressive states from dominating weaker ones. The second approach is idealism. This view stresses that states should transform the system into a new international order where peace can prevail. This approach emphases theRead MoreTaking a Look at the Cold War1237 Words   |  5 Pagescovering is the Cold War and question number six. The Roosevelt Administration was determined to avoid a retreat like the one that followed WWI. The United States itself had sole possession of t he atomic bomb. The United States goal was to expand democracy. America saw that there needed to be global economic reconstruction. The Soviets looked to model the rest of the world after their own values and origins. It indeed had to do with Soviet Expansion. The Russians didn’t want to go to war with the UnitedRead MoreThe Cold War : American Foreign Policy1476 Words   |  6 PagesGeorge Kennan, compared to other writers which have been discussed in this class takes a different approach to the Cold War through the lens of American foreign policy following World War Two in his article, â€Å"After the Cold War: American Foreign Policy in the 1970s.† Kennan, unlike Leffler, Schlesinger, and Brzezinski, believes that the battle between the two nations over hegemony is beyond comparison to the dangers which threaten all of humanity. The threats Kennan provides are environmental, theRead MoreEssay about American Foreign Policy and Global Activism928 Words   |  4 P agesAmerican foreign policy has gone through many changes during our 200 years as an independent nation; our position as a global power has obligated us to participate in world affairs, even when public opinion has been unsupportive. After World War 2 we were only rivaled by the Soviet Union as a superpower; our policy at the time was to establish a righteous world order while simultaneously protecting that order against threats that could tear it down (i.e.: communism). After the end of the cold war theRead MoreThe Interpretation Of The Cold War Has Sparked A Number1694 Words   |  7 PagesThe interpretation of the Cold War has sparked a number of heated debates throughout the historical field over how it should be documented. Who perpetrated and antagonized the world into a nuclear arms race that would last for decades? Was it a battle of East vs. West, or was it one of ideology? Did it even happen as some long-peace historians would suggest? Federico Romero, in his article â₠¬Å"Cold War Historiography at the Crossroads,† organizes these historians into three groups; orthodox, revisionistRead MoreThe War Of The Vietnam War1608 Words   |  7 PagesUnited States (U.S) government s case, this change was thrust upon them in the form of the Vietnam War. The Vietnam war forced the U.S’s hand in adopting a very aggressive form of foreign policy. The Vietnam war was highly controversial and unpopular with the American public. The United States’ involvement in the Vietnam war lasted from 1965-1972, and it was the first war to fight Guerilla fighters head on in the U.S. This pressured the U.S to adopt a very aggressive form of foreign policy to combatRead MoreThe Politics Of Power By Ira Katznelson1315 Words   |  6 PagesIn the chapter â€Å"Foreign Policy† in the book, â€Å"The Politics of Power† by Ira Katznelson, Mark Kesselman, and Alan Draper, describes in detail of the events leading to America’s great level of dominance. Throughout the chapter, a few key points were made. The main three points that were observed in this chapter consisted of America’s influence and global expansion, the transition into the globalization era, and environmental problems. From the beginning of the exploration era, to the globalization

Whole Foods Dupont Analysis free essay sample

Maximizing some/all of these subcomponents would result in a better ROE. The ‘Profit Margin’ ratio is a measure of operational efficiency of a firm. Ideal value for this ratio is 100%, which can be achieved if Sales are equal to Net Income. However, in the business that Whole Foods is in, this ratio will not be anywhere near 100%. One place Whole Foods can increase ‘Profit margin’ is by lowering their Cost of Sales. According to Whole Foods’ Income Statement, Cost of Sales is roughly 62% of Net Income. When we decrease Cost of Sales by 1%, we observe that the ‘Profit Margin’ moves from 2. 9% to 3. 52%, and ROE moves from 9. 98% to 12. 12%. Whole Foods should look at reducing this number. 20032004200520062007 Net Income ($ million)103. 7137. 1136. 4203. 83182. 74 Cash Dividends ($ million)028. 757. 08342. 04121. 14 Total Assets ($ million)1,196. 801,519. 801,889. 302,043. 003,213. 13 Total Equity ($ million)776. 20988. 401,365. 701,404. 141,458. 80 b10. 790. 58-0. 630. 35 ROA8. 6%9. 02%7. 22%9. 98%5. 69% ROE13. 36%13. 87%9. 99%14. 52%12. 53% Internal Growth Rate9. 4%7. 68%4. 38%-5. 94%2. 05% Sustainable Growth Rate15. 42%12. 32%6. 17%-8. 42%4. 63% The ‘Total Asset Turnover’ ratio is a measure of a firm’s asset use efficiency. We will write a custom essay sample on Whole Foods Dupont Analysis or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page This ratio is important since Whole Foods is in a business where it handles substantial amount of perishable goods. Hence the asset turnover should be high. Whole Foods’ asset turnover for 2004 and 2005 was 2. 54 and 2. 49 respectively. One approach they can take to improve asset turn over is by increasing sales. When we increase sales by 1% (assuming everything else remains equal), then we notice that ‘Total Asset Turnover’ increases to 2. 51 (from 2. 49), ‘Profit Margin’ increases to 3. 86 % (from 2. 9%) and the ROE increases by 3. 44% to 13. 42%. Whole Foods could improve ROE by increasing the Asset Turnover. The ‘Equity Multiplier’ ratio is a measure of financial leverage for the firm. The ratio could be increased by taking out debt, but increased debt would result in reduced profit margin (due to increased interest expense) and thus lower ROE. Whole Foods should look to improve Profit Margin and Asset Turnover while maintaining its equity multiplier. Whole Foods has about 16% in cash, which it could use to lower costs, improve operations efficiency, and potentially spend on advertising to stimulate increased sales. It would advisable to invest in Whole Food for the long term, but would not invest in it for the short term. In the short term, the company profits will suffer because of increase in expenses after purchase of Wild Oats (a competitor). In the long term though, this provides an opportunity for Whole Foods to expand its brand. Whole Foods have lower ROE because they are not as leveraged as competitors. More debt increases ROE making competitors look more profitable than they really are. More debt increases bankruptcy risk. Low leverage is more desirable. Whole Foods is producing greater profit margins with very little debt. With its improved A/R turnover (reduced to half its 2006 values), steady increase in Stockholders Equity, and offering generous dividends, Whole Foods is a great stock buy for investors. The company is in great financial health.