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...Abbas "has staked his political legacy and his vision of the Palestinians finally achieving their rights on negotiation with the Israelis," says Steven Cook, a Middle East expert at the Council on Foreign Relations. "And it's hard to negotiate with the Israelis as they are bombing the Gaza Strip." (See pictures of life under Hamas in Gaza...
Gaming revenue in Clark County, which includes downtown Las Vegas and the Strip, is down 8.5% for the year, to $8.3 billion. But the revenue for October, the last month for which figures are available, is off an ominous 24.3% vs. the same month in 2007. Visitor volume is down 3% over last year, though the city's convention business is holding steady. (Read TIME's Top 10 business deals of the year...
...Strip's restaurants have seen a proportional decrease along with overall visitor traffic. David McIntyre, vice president of food and beverage at MGM Grand - which counts among its stable of high-end eateries such restaurants as Shibuya, Nobhill and a pair from French maestro Joel Robuchon - notes that visitors have become more careful with their dollars. "They're still going out to eat; they're just not spending as much money," McIntyre says. "They might not have that second glass of wine." (See 10 things to do in Las Vegas...
...mile or two down the Strip, MGM Mirage just sold off Treasure Island for $775 million to billionaire casino operator Phil Ruffin. The cash infusion should help the corporation finish construction on its $9.1 billion CityCenter, the largest private construction job in the U.S. Yet even in the best-case scenario, Vegas - and the rest of the country - won't begin to drive out of the ditch until the end of next year, as consumer spending improves, new hiring resumes and the city's battered construction industry gets back on its feet. The worst case? The recession deepens...
...Israel continues its air offensive against Hamas in the Gaza strip, one unsettling specter has emerged from the recent past: the failed campaign to crush the Lebanese militants of Hizballah in July 2006. Lebanon was clearly on the minds of Israel's military planners. Even as Hamas targets were pounded in Gaza, Israeli jets flew low-level saber-rattling sorties over southern Lebanon, a warning to militants not to launch reprisal attacks along Israel's volatile northern border. (See pictures from Israel's 2006 war in Lebanon...