Egoism
Individualism
Sovereignty
Splendor

(These ideas are explicated in this sloppy manifesto)

Saturday, January 10, 2004
 
No luck at the Horseshoe...

From this morning's Las Vegas Review-Journal:
Deputy U.S. marshals entered Binion's Horseshoe late Friday armed with two court orders authorizing them to seize up to $1.9 million in cash from the casino, an action that forced the closure of the 52-year-old property's casino.

Richard Winget, the U.S. marshal for Nevada, said U.S. District Judge Roger Hunt authorized the seizure to satisfy debts owed to the Southern Nevada Culinary and Bartenders Pension Trust Fund and the Hotel Employees and Restaurant Employees International Union Welfare Fund.

The action is believed to signal the end of the 5 1/2-year ownership of Becky Binion Behnen, who has been operating the downtown property under a growing mountain of debt, industry insiders said.

Two sources believe Behnen won't be able to reopen the casino.

'She's painted herself into a corner and it looks like she doesn't have the money,' one source said.

Another source agreed, saying it would be highly unlikely for Behnen to be able to raise the needed cash to stave off creditors.
This has been going on for months, of course, and it has the look and feel of real spite to it. The Behnens had no shortage of opportunities to cash out for what they could and avoid closure and bankruptcy. Instead, it looks to me like Becky Benhen had to prove to her brother Jack Binion that she was just as much a casino mogul as him. Jack just sold his non-Nevada casinos to Harrah's for $1.45 billion. Becky is reputed to be shopping the World Series of Poker, the first and most prestigious of the poker tournaments, invented by her father Benny Binion. But except for the part about Jack being a billionaire and Becky having her joint shut down by creditors, Becky is right up there with all the Big Boys in the gaming biz. So there!

This is not a good thing for Downtown Las Vegas, of course. But at least the players at Binion's kept up the fine traditions of Downtown until the very end: The Craps players had to be told twice to cash out and go home, and the Poker Room stayed open until the bitter end...


Tuesday, January 06, 2004
 
Houston hops train of fools...

Some doofus at my wife's office spammed the entire company with this article from the Houston Chronicle. It's a rah-rah booster piece about the brand new trolley that opened on New Year's Day in downtown Houston--at a cost of only $325 million. The Leviathan has inured us to enormous numbers, so nobody ever stops to do the math. The new rail line, every bit as high-tech as its many Nineteenth Century counterparts, runs for 7.5 miles. That means that the cost of this "community investment" was only $684 per inch. Truly, the rails could have been plated with gold.

But wait. There's more. The 7.5 mile trip was taking 29 minutes, start to finish, on opening day. The 325 million dollar trolley chugs along at a little over 15 miles an hour. On national holidays. One might surmise that it will be somewhat slower in rush-hour traffic. What a boon to the Houstonians to have a downtown trolley that even the asthmatics can outrun!

The whole article is a hoot, particularly when the incredibly credulous reporter advises us that, "Others were critical." You may be assured that no one was critical of the insanely stupid idea of building really slow trolley systems at $684 an inch. And that includes the doofus in my wife's office, who I will promise you did not take any sort of mass transit vehicle to get to work.





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