re: Billionaire Tilman Fertitta furloughs 40,000 workers at casino, restaurant empire

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With more and more people getting sick, no cure thus far, and this being a fairly lethal virus that can spread easily, i'm sure staying in a shutdown will be the smart idea. Doesn't take a billion dollars to understand that.

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Well sure, that's the attitude you're going to have if you listen to the so-called "doctors" with their so-called "degrees" and so-called "years of expertise", but my gut tells me everything is going to be fine.

I haven't listened to a doctor about this sort of thing yet, and all of my surviving kids have turned out great. My parents were the same way, and their life insurance policy put me through college.

At least he operated an efficient system to transfer some funds from degenerate gamblers to casino workers that worked quite well up until now.

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Oh, look, another corporate bootlicker. I'm consistently amazed how eager the worker bees (err, project managers) are to defend the queen in these conversations.

I'm sure Fertitta has the ability to liquidate some assets to offset the cost of helping his employees. We used to practice something called charity. Charity doesn't care about negative cashflows when the need is great.

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Oh look another degenerate being generous with other people's money.

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You mean bank accounts? The dude could get $100 million in the blink of an eye. He probably already cashed out of the market too.

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and it would probably cost him an additional 40-50 million in taxes

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He is not known for being ethical

Companies paying their employees even though stores are closed:

Abercrombie and Fitch
Apple
Bath and Bodyworks
Carhartt
Crocs
GAP
Levi
Lululemon
Lush
Macy's
Morphe
Nordstrom
Primark
Sephora

Companies giving additional financial help to employees:

Walmart
PepsiCo
Amgen
JP Morgan Chase
Bank of America
Citigroup
Wells Fargo

Darden Restaurants employs 190,000 people and is giving their employees full pay for 2 weeks.

Numerous other retailers and restaurants have given all employees improved sick pay benefits, even to employees that didn't have it. Full pay for missed days and waiving attendance policies.

Las Vegas Sands is paying employees not working.
Wynn is paying employees for 30 days.
MGM is paying furloughed workers for 2 weeks.

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Wynn Resorts CEO Matt Maddox told CNBC in an interview he learned a lesson from the financial crisis in 2008: It pays off in the long run to retain employees, even if it costs the company in the short run.

“I can’t imagine going out (to) rehire and retrain 13,000 people. I’d rather keep the knowledge and experience that we have now in the service standards,” he said.

In an earnings call, Maddox revealed Wynn Resorts was spending as much as $2.6 million every day during the Macao shutdown, most of it on salaries.

Maddox points out the loyalty a move like continuing to pay workers engenders in employees. “We’re known as the best place in Las Vegas for service, for experience, ” he says. “I want our employees to be happy to be there, because if they’re happy, you’ll be happy and our shareholders will, too.”

Maddox has asked directors and executives to swap salary for stock to preserve cash as he has done himself.

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If I worked for Tilman, I would be looking to move to another casino or restaurant.

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I don’t understand how this board promotes conservative principles yet feels that business owners are beholden to pay their employees when the business isn’t generating revenue

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Nobody believes the government should force him to pay. They just think it would be good business for him to pay and good of him to pay.

That's one of the differences between liberals and conservatives that liberals can't seem to wrap their silly little brains around.

Conservatives want people to do the right thing, in this case, pay your workers. Liberals want the government to force free people to do things against their will.