If you were ever in doubt about the power of the Presidential office, what I’m about to discuss will convince you. One off-hand, irresponsible comment has set off a chain of reaction so severe that our city is in jeopardy. [Please note that “irresponsible” pertains to the comment made only. No mail bombing me for saying Obama is an irresponsible president, and if you do you’re only proving the point I’m trying to make in this post.]

On February 9, 2009, President Barack Obama was speaking at a [1] town hall meeting in Indiana about the state of the economy and, specifically, the role of financial institutions in its downturn. He chastised the institutions involved in the Bail-Out and stated that they shouldn’t take trips to “Las Vegas…or…the Superbowl on the taxpayer’s dime”. He also called for them to practice “accountability and responsibility”.

As a taxpayer, I agree wholeheartedly with companies focusing on accountability and responsibility for their actions and, above all, not wasting my hard-earned money. Also, I do not dispute that American public have misinterpreted what President Obama said. Somehow, his statement regarding the misappropriation of funds by troubled financial institutions became “stop going to Vegas for any reason whatsoever.” Clearly, that is not what Obama meant to happen, but the average American isn’t going to examine what he said closely. They take what the President says as gospel and if he says, “don’t go to Las Vegas,” they’re going to drop this city like a hot potato. He’s new to game and we all make mistakes. However, he should know that most people regard the President as an authority on all subjects, faulty logic or no.

The sad fact is that our city was singled out in the statement and our major sources of revenue, tourism, conventions and meetings, thrown into suspicion. Las Vegas Mayor Oscar Goodman felt so strongly that he [2] penned a letter the very next day asking for an apology. He later [3] rescinded the request stating he was satisfied that the word is out there and that the President wasn’t trying to “disparage Las Vegas”.

On March 12, the White House issued a “[4] clarification” stating that the President recognizes the importance of business travel to the tourism industry and encourages business travel for meetings. According to Metro Networks Communications, Obama is also planning a trip to Vegas for a fundraiser for Senator Harry Reid during which he is expected to talk about “talk about the importance of leisure and business travel.”

I commend him for making an effort; however, I don’t think Harry Reid is the path to winning back the hearts and minds of Las Vegans. I personally wouldn’t align myself with him. I’ve met the guy and I would say you’d be hard pressed to locate a more arrogant, self-interested waster of taxpayers money. Chalk it up to Obama’s newness once again. But I digress…

Now, we must ask ourselves, is it too little too late? Is the damage is already done? Some damage is evident at least.

The Las Vegas Review-Journal reports that [5] 340 conventions have been cancelled in the last 90 days, costing our city $131.6 million in non-gambling projected revenue. What does that mean? More than just trouble for our economy, it means that thousands of people are going to lose their jobs.

As of February, the unemployment rate in Nevada was already at a staggering [6] 10.1 percent. The last time it was that high was 1983 due to the [7] recession in the early 1980s.

So what can we do to turn it around? Get the word out and I’m about to give you the ammunition in my next post. I’m splitting the post because this one is long enough and I’d like to highlight the next individually.