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.

[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.

[/quote]

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]*

[quote="stanmaxkolbe, post:1, topic:202551"]

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

[/quote]

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

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