[quote="stinkcat_14, post:2, topic:202551"]
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.
[Gee, maybe you really are a professor of economics]*