Malaise

We’ve got it. As many have quoted, here’s Steve Wynn, CEO of Wynn Resorts:

And I’m saying it bluntly, that this administration is the greatest wet blanket to business, and progress and job creation in my lifetime. And I can prove it and I could spend the next 3 hours giving you examples of all of us in this market place that are frightened to death about all the new regulations, our healthcare costs escalate, regulations coming from left and right. A President that seems, that keeps using that word redistribution. Well, my customers and the companies that provide the vitality for the hospitality and restaurant industry, in the United States of America, they are frightened of this administration. And it makes you slow down and not invest your money. Everybody complains about how much money is on the side in America.

You bet and until we change the tempo and the conversation from Washington, it’s not going to change. And those of us who have business opportunities and the capital to do it are going to sit in fear of the President. And a lot of people don’t want to say that. They’ll say, God, don’t be attacking Obama. Well, this is Obama’s deal and it’s Obama that’s responsible for this fear in America.

The guy keeps making speeches about redistribution and maybe we ought to do something to businesses that don’t invest, their holding too much money. We haven’t heard that kind of talk except from pure socialists. Everybody’s afraid of the government and there’s no need soft peddling it, it’s the truth.

And this guy’s a Democrat.

You think anyone wanted to risk buying Borders in this environment? I don’t think so.

The Ann Arbor-based bookseller had been trying to reorganize for five months, but was overwhelmed with debt, losses and changing consumer tastes.

Borders now operates 399 stores and employs approximately 10,700 workers. It has 408 employees at its Ann Arbor headquarters and 473 at its 26 Michigan stores.

The “excuse” for this is that the “physical bookstore” is a thing of the past. If so, that is a pretty sad development. I can’t walk into a bookstore without buying at least one book.

And at Christmas time, I did the majority of my holiday shopping at Borders. What am I going to do?

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3 Comments on “Malaise”

  1. Hotspur Says:

    What am I going to do?

    You won’t have any money anyway, so don’t sweat it.

  2. MJ Says:

    I think you spelled ‘mayonnaise’ wrong in the title.


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