Word: casino
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...Although many tribal casinos have had a positive effect on nearby communities, a number of our readers found more to complain about than praise. "At the end of a two-lane county highway, we've got a casino that draws thousands of customers to our small farming valley," wrote a Californian. "As a result, the fatality rate for auto accidents is one of the state's highest." A Connecticut reader declared, "Life has changed for those living in the shadow of casinos--and not for the better. We have more traffic, more crime and higher drunk-driving rates." Said...
Some problems of Indian gaming could be solved by tying the size of a tribe's casino to the number of registered members. You could allow one slot machine or gaming table per tribe member. This would remove the financial incentive for a tribe to deny membership to legitimate tribal relatives. And it would prevent absurdities like Maryann Martin's one-woman tribe profiting from a 349-slot-machine casino. SONYA MEDWID San Mateo, Calif...
...stock cop is palpable. Shang Fulin, a little-known technocrat, landed in the hot seat last week when he was named chairman of the China Securities Regulatory Commission (CSRC). His challenge: to impose order on a stock market that a leading Chinese economist once described as worse than a casino (because "at least casinos have rules"). Shang arrives at a precarious juncture. Even as China's GDP has grown 8% annually, its market has sunk more than 40% since its June 2001 peak. Stock-rigging scandals and lax corporate disclosure have sapped investors' confidence, and Shang must restore their faith...
When the state failed to deliver, the tribe reopened the casino in June. Enter the Department of Justice, which sued to close the operation down. The tribe, reluctant to end its one moneymaking venture, refused. A federal judge imposed a $3,000-a-day levy, then upped it to $6,000. In no time, the tribe owed more than $1 million. Meanwhile, the Justice Department began seizing the tribe's bank accounts, including those containing funds earmarked for child safety seats and nutrition programs for the elderly. It even took money out of individual Indians' accounts. Says Thomas: "They...
...guidance. Commission officials advised the tribe to install pseudo slot machines--like those used by the Seminoles--to get around the Class III controversy. The tribe complied--at a substantial economic cost. With the switch to the pseudo slots, Thomas says, revenue has fallen by two-thirds. The casino employs only 15 people, and the income barely covers operating costs. There is no longer any money for tribal programs...