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Las Vegas Sands Corp. Message Board

  • Apr 11, 2013 12:15 PM Flag

    The lighter side of a casino mogul - LA Times - 4/7

    Billionaire casino mogul Sheldon Adelson looked relaxed. His arm was slung over the back of the courtroom witness chair in the cozy manner of a guest on an afternoon talk show. He was dressed impeccably in a gray business suit, blue shirt and red- and-white tie, but the look on his face was purely personal, a grandfather telling a story.

    He talked about his impoverished Boston childhood, his parents fresh off the latest boat of immigrants. "I could have been a rags-to-riches story," he said, smiling, congenially facing the jury. "But my parents couldn't afford the rags." Jurors smiled unconsciously.

    Moments later, guided by the soft questioning of his attorney, Adelson, 79, hit them with another one-liner that would have made Henny Youngman proud: "I came from the other side of the tracks. In fact, I came from so far on the other side, I didn't know the tracks existed."

    For two days last week, one of the world's richest men had been an adverse witness, a man on the defensive, cross-examined by a pacing lawyer representing a former gaming consultant who says that Adelson, chief executive of the Las Vegas Sands Corp. casino empire, owes him $328 million in a breach of contract.

    Adelson, a stalwart Republican and defender of Israel who, with his wife, donated nearly $100 million to GOP candidates in last year's elections, had been summoned to testify. His appearance drew onlookers to the courtroom eager for a glimpse of a reclusive tycoon whose worth reportedly exceeds $26 billion.

    What greeted them was no Perry Mason courtroom scene -- no nail-biting drama. This was a nuts-and-bolts civil litigation case in which the clock moved so slowly at times it seemed to go backward.

    But it was also an affair marked by occasional humor from an unlikely source: Adelson himself.

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    • Adelson's style has much in common with Israel... when attacked, respond with definative fortitude.

      Weidner's testimony contained his opinion that the Suen issue should not have ended up in court.
      The reason Weidner suggested that was because he would have "settled" with Suen... and probably dozens of others who might have conjured up claims against LVS.

      The reason why Adelson goes nose to nose with even smaller claimants against the company is because it's all about sending a message to the dozens of would-be claimants who are waiting in the wings...

      ... that they're going to have to fight for a piece of LVS... and prove that they deserve it.

      When you attack Israel, they respond with double the firepower. If they didn't, they would be attacked a lot more.
      Adelson learned that lesson well.


      • 3 Replies to bjspokanimal
      • Israel's deterrence needs to be maintained at high levels at all times. Both Hizbollah and Hamas claimed "divine victory" after the recent wars waged against Israel. If "divine victories" translates into both Nasrallah hiding in tunnels and quiet on the Gaza front, then may they continue to enjoy more such divine victories. Adelson can afford to lose some battles and continue to do fine. Israel does not have such options.

      • Apr 11, 2013 2:59 PM Flag

        I tried to post the entire article in three sections, but no love from Yahoo. At least the first section posted and the entire article is available if Googled. I also enjoyed the later article, "Former Sands exec turns on Adelson in testimony" and given his testimony, paraphrased, "Weidner made the offer and per Weidner, Suen performed valuable services and deserves compensation" and it's a civil trial, I'm not too sure LVS wins if the jury can decide partial compensation was deserved. If the jury only decides yes or no the license was delivered and payment is due on delivery, Suen is out in the cold.


        Sentiment: Strong Buy

      • why bother even responding when we all know that any one with a lick of sense would never in their right minds give 2% of future net work in a company that is worth billions.....especially to a "no body and has absolutely NO credentials...end of story...


46.19+0.770(+1.70%)May 27 4:03 PMEDT