Wynn VS Wynn Making national news

Well the embittered fight to remove Elaine Wynn from the board, has spilled over from local Vegas blogs to MSN. Can't be good for Steve-O image or that of Wynn.

http://www.msn.com/en-us/money/inside-the-ticker/inside-the-ticker-the-multi-billion-dollar-soap-opera-at-wynn-resorts/vi-AA9xCSr?ocid=U142DHP

 

With all the attention on spousal abuse this year, kicking one’s wife off the board of directors seems rather meaningless.

This might garner some gossip with the hoity–toity society, but otherwise negligible to Steve and Wynn Corp - IMO.

 

Not if she is able to sell off her shares. And I wouldn't want to own that much of a company and have no voice on its board. Can Wynn Corp really afford to go through this again?

 

Could the fight have anything to do with the Wynn Macau being in trouble....gambling there down 32%...China president is cracking down hard on whales and high rollers are getting rolled .....literally....

 

I don't care one way or the other about this story, but to my eyes I think she's got a PR firm working her end. There was a minor blurb in the WSJ a few weeks ago, but now it's all over major media, including front page of the NYT website with a pretty portrait picture, etc.

Edit: duh, I guess I should have read the story at the NYT before posting that, it says right in the article she is mounting a PR campaign lol

"On Monday in New York she accelerated an already extraordinary public relations campaign"

http://www.nytimes.com/2015/03/24/business/wynn-resorts-fight-over-board-seat-has-roots-in-divorce-settlement.html

 

Just got my annual proxy.....sorry, Steveo....your stock price lately has really sucked because of all this nonsense with your ex wife...and Macau. I will be voting for Elaine Wynn to continue her position on the board rather than your cronies.

 

If Elaine can keep control over her shares she could sell them to an institutional investor and Steve could lose control of his casinos. Again.
Steve must feel some heat from the team made up of ex-Wynn mainstays, big money and Pacal being Elaines nephew to boot.
"As the (Wynn) World Turns indeed.

 

The proxy battle is on, we'll see who comes out on top, I'm betting on Steve.

Elaine has restrictions on selling her stock: In June of 2012, Elaine Wynn filed a cross claim against Stephen Wynn seeking to be released from a stockholder agreement that she had entered into just over two years earlier, which permits Ms. Wynn to sell or gift $100 million worth of her Wynn Resorts stock ($10 million per year over 10 years) but that prohibits her from unilaterally selling or divesting more than $10 million worth of Wynn Resorts stock in any one year.

 

Was this ever resolved in court? Because if I were her, I would want to dump shares big time if they kicked me off the board.

 

Court case is still ongoing. WYNN stock is near the 52 week low, it wouldn't make sense to dump now even if she could.

What's funny is that Steve is contractually obligated to vote all of his shares to Elaine.:evillaugh

 

yeah i'm sure it's all steve's fault.. never mind her lawsuit against the company, illegal selling stock before the earnings report (that she says she didn't know about), or her nephew opening a casino across the street... or her no one should have guns except my armed security guards preaching...

 

So this would be a good time to grab some Wynn stock?

 

Is Elaine currently single? Have a boy toy? Know if she wants one?

 

I sure Steve would pay you handsomely if you took Elaine out. :evillaugh I mean out on a date of course.