Smoke and Mirrors

"It was all good just a week ago." - Jay-Z

Seven days ago, I woke up in Las Vegas.
Yesterday the Federal Reserve reported that the economy is still contracting, but at a slower pace.

Nine days ago, the wait for a taxi at McCarran International Airport was 20 minutes long on Monday morning.
According to our driver, cabbies used to make upto $400/day driving in Vegas, today it's is half that.

Eight days ago, I fell asleep in a suite at the MGM Grand.
Today, MGM Mirage's stock closed at $6.18. Within the past year it's been as high as $53.67.

A week ago, I had an in-room breakfast at The Four Seasons hotel Las Vegas. Those were some very expensive eggs.
Before it was taken private, by none other than Bill Gates and a Saudi Price, shares in the Four Seasons traded at $60.66.

A week ago, the strip was packed with visitors trying to see the water show in front on the Belagio.
Never mind that Las Vegas is in the middle of the desert.

This past weekend I had dinner at Maggiano's in Hackensack, N.J. with a dozen friends to celebrate a birthday. The bill came to $750. Finding a place to park took 4 loops around the lot.
One friend at dinner has been unemployed for over a year.

This morning, I saw the sweetest Maserati Quatroporte on the Long Island Expressway.
Yesterday, GM announced another round of layoffs.



It is no secret that we are in the middle of a recession, but like Vegas, the world in which we live is full of smoke and mirrors.

Regardless of what's going on, the number one objective is to not lose all your chips.

-whatdabusinessis.com