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brooklynite

(94,595 posts)
Fri Jan 26, 2018, 01:41 PM Jan 2018

Wynn shares tumble 6% after reports of 'decades-long pattern of sexual misconduct' by CEO Steve Wynn

Source: CNBC

Wynn Resorts stock dropped 6 percent in trading Friday after The Wall Street Journal reported allegations of sexual misconduct by billionaire CEO Steve Wynn over many years.

Dozens of people who worked at Wynn's casinos say his behavior created a pattern of sexual misconduct, according to the report, with some describing employees being pressured into performing sex acts with Wynn.

Wynn would regularly have manicures, makeup applications and massages performed at his office at the Wynn resort in Las Vegas, according to the WSJ. Former employees of Wynn say they would schedule fake appointments for female workers to avoid requests for those services, the report says.

Read more: https://www.cnbc.com/2018/01/26/wynn-stock-drops-7-percent-after-alleged-sexual-misconduct-by-steve-wynn-report.html

23 replies = new reply since forum marked as read
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Wynn shares tumble 6% after reports of 'decades-long pattern of sexual misconduct' by CEO Steve Wynn (Original Post) brooklynite Jan 2018 OP
Another piece of garbage waste of human life titaniumsalute Jan 2018 #1
6% Weed Man Jan 2018 #2
Well, that's a real burn it all to the ground attitude Blue_Adept Jan 2018 #7
Here's my thinking Weed Man Jan 2018 #9
Anyone who invests in these types of stocks/bonds/etc. should know what they are doing! erronis Jan 2018 #19
The real kicker is, Wellstone ruled Jan 2018 #3
Adelson and Wynn hate each other. That said, Wynn will get all the cover he needs in Vegas Floyd R. Turbo Jan 2018 #14
Story popped two hours ago on the RJ web Wellstone ruled Jan 2018 #15
How cool would that be! 😏 Floyd R. Turbo Jan 2018 #21
We will know doubt see Wellstone ruled Jan 2018 #22
Wynn's the Finance Chair of the RNC. Can't wait for the response from that org! DonViejo Jan 2018 #4
Couldn't happen to a better guy (almost said "nicer") He's been slime for decades, this.... George II Jan 2018 #5
Stock is now down 9.7 percent. will go much lower. nt Stuart G Jan 2018 #6
Will Dems, of all levels of the Party demand the GOP return his donations? irisblue Jan 2018 #8
We will see. Finance Chair of RNC? Will the Democrates go after him? Stuart G Jan 2018 #10
Dems? Shouldnt the GOP get rid of him? Beaverhausen Jan 2018 #13
Dems need to make so much noise & publicity irisblue Jan 2018 #20
The workplace sin in Sin City must be off the charts. Fred Sanders Jan 2018 #11
A Trump wanna-be Blue Owl Jan 2018 #12
Yet, STILL the GOP tries to spin this as a problem for Democrats. BobTheSubgenius Jan 2018 #16
Down 11% and still falling RainCaster Jan 2018 #17
It will be interesting to see if the GOP condemns this sleazeball as loudly as they condemned catbyte Jan 2018 #18
Wynn started stealing tips from employees years ago disalitervisum Jan 2018 #23
 

Weed Man

(304 posts)
2. 6%
Fri Jan 26, 2018, 01:46 PM
Jan 2018

It needs to be valued at $0 so Wynn doesn't have the funds to mount a defense, and are now forced to sell off all of his assets to pay for the damages.

Blue_Adept

(6,399 posts)
7. Well, that's a real burn it all to the ground attitude
Fri Jan 26, 2018, 02:04 PM
Jan 2018

It'll certainly help the employees and shareholders of the company that had nothing to do with it.

 

Weed Man

(304 posts)
9. Here's my thinking
Fri Jan 26, 2018, 02:10 PM
Jan 2018

If Steve Wynn is counting on the stock to maintain his value, then he is worthless on paper.

His employees will keep their jobs at a soon-to-be renamed Wynn resorts. No problem there.

Wynn also fucked his shareholders by screwing around. So shareholders are left with nothing but lawsuits to get their value back from Wynn, so it's a double whammy which he deserves.

erronis

(15,302 posts)
19. Anyone who invests in these types of stocks/bonds/etc. should know what they are doing!
Fri Jan 26, 2018, 04:24 PM
Jan 2018

I don't give a shit about the shareholders. In fact I hope most of them dissolve to rot. I've worked in "asset management" which is "how to make money off of stupid investors - even big ones."

Employees I do care about. This is the typical screwing of US workers by entities such as Bain Capital (remember RMoney?). Koch and most other mega-corps could not care about the workers. This rot is spreading (or was there for a long time) with IBM, GE. Now spreading to the high-tech Microsoft, Google, Apple.

 

Wellstone ruled

(34,661 posts)
3. The real kicker is,
Fri Jan 26, 2018, 01:53 PM
Jan 2018

Both of the Las Vegas News Papers are not reporting this story as well as any of the Electronic Media. Gee,Sheldon Adelson is keeping the lid on his Pal's discretion's.

Floyd R. Turbo

(26,549 posts)
14. Adelson and Wynn hate each other. That said, Wynn will get all the cover he needs in Vegas
Fri Jan 26, 2018, 03:41 PM
Jan 2018

from other operators, the press, politicians, the judiciary, and law enforcement.

 

Wellstone ruled

(34,661 posts)
15. Story popped two hours ago on the RJ web
Fri Jan 26, 2018, 03:56 PM
Jan 2018

site. This is causing earthquakes along the Stripe today. Just imagine Lawyers with Card Tables setup in front of Wynns Joints trolling for Customers.

 

Wellstone ruled

(34,661 posts)
22. We will know doubt see
Fri Jan 26, 2018, 04:51 PM
Jan 2018

commercial's on tonight's local news,from the Bumper Chaser Crowd trolling for Customers.

George II

(67,782 posts)
5. Couldn't happen to a better guy (almost said "nicer") He's been slime for decades, this....
Fri Jan 26, 2018, 01:59 PM
Jan 2018

....just adds to his reputation as slime.

Stuart G

(38,434 posts)
10. We will see. Finance Chair of RNC? Will the Democrates go after him?
Fri Jan 26, 2018, 02:13 PM
Jan 2018

I hope that the Democratic Party goes after him, like the Republicans went after Hillary.

Sexual Predator ???......vs ...lost emails?....what do you know???

irisblue

(32,980 posts)
20. Dems need to make so much noise & publicity
Fri Jan 26, 2018, 04:35 PM
Jan 2018

That the GOP tosses his ass out. Won't happen unless Dems scream, long, hard & loud . GOP has no shame.

BobTheSubgenius

(11,564 posts)
16. Yet, STILL the GOP tries to spin this as a problem for Democrats.
Fri Jan 26, 2018, 04:03 PM
Jan 2018

They are unbelievable. Unspeakable, at times.

RainCaster

(10,884 posts)
17. Down 11% and still falling
Fri Jan 26, 2018, 04:08 PM
Jan 2018

Will the RNC reward this POS by letting him keep his job as the Finance Chair of the RNC?

What about the money he donated to the RNC? WIll they return it to him, like they said the DNC should do with the Harvey Weinstein donations?

Inquiring minds want to know.

catbyte

(34,402 posts)
18. It will be interesting to see if the GOP condemns this sleazeball as loudly as they condemned
Fri Jan 26, 2018, 04:16 PM
Jan 2018

sleazeball Harvey Weinstein. Probably not because their go-to position seems to be: Every woman who accuses a Democrat of sexual misconduct is telling the God's honest truth--with or without "proof", but every woman who accuses a Republican of sexual misconduct is an attention whore, a Democratic dupe, and/or lying because the Republican accused hasn't been convicted in a court of law. The hypocrisy makes me actually sick to my stomach.

 

disalitervisum

(470 posts)
23. Wynn started stealing tips from employees years ago
Fri Jan 26, 2018, 05:20 PM
Jan 2018

Caused a big stink in the casino industry when he instituted a policy that mandated 20% of front-line employees tips go to management personnel. Every other gaming company had to issue statements reassuring their employees that they would not follow suit. Wynn is widely held in contempt by his former casino employees. This is probably where trumpervert got his recent inspiration to take yet more money from tipped employees.

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