Dodd Helps Casino Earning $1.3B Get $54M in Taxpayer Money

Dodd Helps Casino Earning $1.3B Get $54M in Taxpayer Money
foxnews.com/politics/2010/06/19/mohegan-sun-owners-hit-m-jackpot-stimulus-funds/?test=latestnews

Retiring Sen. Christopher Dodd, D-Conn., helped a casino that earned $1.3 billion last year hit a $54 million jackpot in federal money.
The Mohegan tribe, owners of the Mohegan Sun – one of the largest casinos in the country – has secured a $54 million loan funded with stimulus through Dodd’s help.

Yes another Pro-death cATHOLIC Democrat at his finest—Stan!!! :mad:
Friends don’t let friends vote Democrat.

I think the reporter who wrote the story needs to learn some economics. The casino didn’t earn $1.3 Billion, that was its revenue. The casino’s profits were much lower at about $119 million.

That still doesn’t make the government loan appropriate, but to misreport the facts is inexcusable.

Please don’t go into shock, but I am going to agree with you here.

Talking heads, news readers, and news writers have NO IDEA what they are talking about … nobody seems to know anything about “common terms” such as revenues, sales, earnings, profits, “what they make”, etc. [Politicians are even worse, IMHO]

Much less pre-tax, after-tax and the rest. Some people think that depreciation is a source of income. No joke.

They don’t know the difference between assets and revenues. Much less between parts of cash flow and income.

I have had some folks think that revenues are profits. Hey, man, you sell $5 worth, you got a profit of $5. And profits are a ripoff, man.

Apologies for being less than rigorous with my terms, etc. But I am shocked, shocked to enjoy your comment.

Nevertheless, the ignorance of basic finance/economics is a serious issue.

On the other hand, as one labor union negotiator told me, it’s just a bunch of numbers.

[sigh]

[Gee, maybe you really are a professor of economics]*

I agree with both of you but my statement is still true. :stuck_out_tongue:

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