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Let's end the year with a review and update on a few items.
Back in October I wrote about the Revel bankruptcy in Atlantic City ($2.4 billion to build, opened in 2012, closed in 2014 and being bought for $110 million-a loss of 95%). Now make that a 100% loss as the purchase deal fell through.
Also, the ongoing slapstick comedy between Carl Icahn, the UNITE HERE union and politicians in New Jersey over the Trump Taj Mahal is working its way to a December 12th showdown. That should be fun to watch. I wonder if any of Nevada's leaders have ever contemplated the possibility of us facing the same fate AC has experienced. Couldn't possibly happen here? OK, fine.
Re: Question 1 - The Court of Appeals ballot question. There was an interesting article in the RJ on Nov 16. In it Supreme Court Justice James Hardesty, the lead spokesperson for the Question stated about expanding the court: "_ we’ve never planned to do that. We have no intention of doing that NEXT YEAR" (emphasis added). The article compared our new court to Mississippi's which operates the same way ours will. There, the Supreme Court has nine Justices compared to seven in Nevada. Their appeals court has ten judges vs. our three. So, how long do you think that gap is going to last? See you in 2017 folks and remember, we voted ourselves out of the process so all the Supreme Court and the legal establishment have to do is present the expansion to a compliant legislature and away they go.
Re: Question 3 - The Margins Tax. On November 20th a gentleman wrote in an RJ letter to the editor that the defeat of Q3 really wasn't that big after all. You see, he said, there are 2.7 million people in Nevada and "only" 15.9% of them voted "NO" on Q3. So, how could that possibility be considered a major defeat? Of course, the problem for the self-deluded letter writer and his fellow regressive statists is that, using the exact same ground rules he used, it turns out a mere 4.3% of 2.7 million Nevadans voted "YES" on the margins tax. 15.9% No vs. 4.3% Yes. No matter how you cut it or try to play the numbers game it was a massive defeat for a ballot question that was one of the worst ideas ever thrown in the face of the People of Nevada. Q3 was crushed because it deserved to be crushed. Case closed.
A few words on former Speaker of the Assembly designate Ira Hansen. Talk about your past coming back to haunt you . . . Mr. Hansen tried to defend the things he wrote by saying his bosses at the Sparks Tribune wanted him to be controversial. He sure succeeded didn't he? In the politically correct (PC) world we live in today too many aspects of free speech are being destroyed. The kinds of things Hansen wrote are repugnant to most all of us but the real problem is the ammunition his writings provide to the PC terrorists who want to limit speech only to what is acceptable to them. It's a dangerous and slippery slope I believe we are already too far down.
Best Wishes for a Happy Holiday Season. See you in January.