Obama’s been good to Wynn, Adelson

Robert Blanner, North Las Vegas

Thursday, Jan. 26, 2012 | 2:02 a.m.

Neither Sheldon Adelson nor Steve Wynn has held back their criticism of President Barack Obama. Mr. Adelson, in particular has shown his intense desire to boot Obama out of office. Mr. Adelson’s most recent feelings were expressed through a $5 million contribution to Newt Gingrich, followed by an equal contribution from his wife.

I am not sure this is the proper gratitude that might be shown the president considering how his company’s stock has risen during Obama’s term. On Oct. 8, 2007, (Bush’s administration) Las Vegas Sands stock closed at $132. One month after Obama was sworn in, Feb. 23, 2009, the stock was at $2.50. As of Wednesday it was at $49.74 per share. Wynn Resorts stock went from $15.40 on March 6, 2009, to $157.49 on July 7, 2011. Wednesday it closed at $120.42 a share. Both companies grew substantially during Obama’s term. If profit is the bottom line, Mr. Adelson and his wife should be making those contributions to Obama.