Word: wynn
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Dates: during 2000-2009
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...there is another Macau, one the high rollers never visit, that sounds plaintive rather than prosperous. Take a taxi from the dancing fountains in front of the Wynn Macau hotel to the working-class neighborhood of Hac Sa Wan, where you can meet Ng Iat-keong, one of the many poor Macanese for whom the casino boom has been a bust. Ng, 45, is a construction worker who helped build some of Macau's hotel-casinos, including the biggest of them all, Las Vegas Sands' giant Venetian. Yet the money sloshing around in their plush suites hasn't found...
...cracked down on crime and, more importantly, he introduced competition to the gaming market by issuing new casino licenses in 2002. Today there are six gaming operators. Eager to tap the burgeoning wealth of a rising China, some of the biggest names in gambling, including Las Vegas Sands, Wynn Resorts and MGM Mirage, came charging into Macau, and the economy roared. Ho was fêted as a miracle worker...
...first quarter: Chriss Wynn takes the opening Harvard kickoff all the way to the Crimson 49-yard line. A bad start for Harvard...
...speaking with Haugerud at Tryst, the sprawling nightclub at the Wynn Las Vegas, where champagne is flowing freely and folks are beginning to loosen up after a cerebral day of presentations. Can this be the same person whose talk on buying farmland in Argentina, Brazil and the Midwest was intimidating in its attention to detail? In one breath she's discussing how the price per acre for Iowa farmland is not far from its nominal highs reached in 1973; in another she's recounting her early professional life in Geneva and how much fun she had. She seems almost normal...
...chat some more about the Wynn, about travel, about trivial things. Then somehow I bring up cocoa and the impact of financialization on some of the soft-commodity markets, and she straightens up and squints down at me, launching into some quick attributes of cocoa to test my knowledge. Cocoa production is down because of drought in West Africa, and there is fear of renewed fighting in Ivory Coast, the world's largest producer. Meanwhile, Haugerud says, "demand continues to be strong across the board, along with new demand for dark chocolate because of the health benefits of flavanols. Dark...