Posted by Rick Stine
on February 03, 2011
Try these numbers on for size.
At Las Vegas Sands Corp., the company just reported that fourth quarter revenues were up nearly 57% year-over-year. Consolidated EBITDA was up 141.3%. You got to figure that a company with “Las Vegas” in its name knows how to make some money.
But that’s not where it is making its money. It’s in two tiny Islands – one about an hour south of Hong Kong in Macao and the other in a recently opened (last April) giant of a casino in Singapore.
The incongruity wasn’t lost on the Federal Reserve chairman or the crowd.
“But before asking the last question, a couple of very important matters to take care of,” intoned the moderator at Fed Chairman Ben Bernanke’s rare press conference today in Washington at the National Press Club. “Want to remind our members and guests of future speakers. Harry Shearer, the comedian and humorist, a voice of ‘The Simpsons,’ will discuss media myths on March 14.
“And we might even try to get him to do a few voices for us,” the moderator added, according to a transcript.