Title : Manadaly Bay CEO's First Act Upon Taking Over Casino Was To Disarm Security and Declare a "Gun-Free Zone"
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Manadaly Bay CEO's First Act Upon Taking Over Casino Was To Disarm Security and Declare a "Gun-Free Zone"
In Over His Head
Interesting article in recent RJ re the CEO of Mandalay Bay:
Several MGM security guards and ex-security guards have called my radio show in recent days. They described MGM’s security as “woefully undertrained and understaffed.” One ex-MGM security guard called to say Murren’s first act in taking over Luxor and Mandalay Bay was to disarm most of the guards and declare MGM hotels “gun-free” zones. Maybe that’s why the shooter chose Mandalay Bay.
SEC records for September reveal more than $200 million in stock selloffs from MGM officers and directors. From July 31 to early September, Murren sold more than 80 percent of his MGM stock.
MGM’s top executives and key board members also sold huge amounts of stock in September.
How about this eye-popping number? In the past three months, according to SEC Form 4, MGM insiders sold off 6,387,163 shares. Guess how many those same insiders bought?
Zero.
Also in September, while MGM’s CEO and insiders were selling off huge amounts of their own company stock, MGM announced a billion-dollar stock buyback program. In other words, they used “other people’s money” to buy back MGM stock on the open market to prop up the price.
Talk about the world’s worst conflict of interest. Shareholders were forced to spend $1 billion to buy “undervalued MGM stock” at the same time the CEO and his team couldn’t wait to get out.
Question: What if MGM had used that same $1 billion to upgrade security or hire twice as many security staff instead of to prop up its stock price while the CEO was selling?
Lastly, did Murren sign for a special “terrorism rider” on MGM’s liability insurance policy? Will a designation of “terrorism” vs. criminal mass murder affect the payout from the insurance policy? Could declaring this a terror act change MGM’s bottom line by billions of dollars? Inquiring minds want to know.
Whoa! Soros had a $42 Million Short open on MGM (unconfirmed)
Intriguing, given the $42 Million amount of puts against MGM, but the time frame isn’t specified and the put amount isn’t unusual for this investment fund…
Above imgur image illustrates the amount of puts this particular Soros fund had at the time on a variety of entities. The MGM put was not extraordinary despite the $42M total.
The timing of this Soros investment coinciding with MGM's financial shenanigans and the massacre at MGM's property, Mandalay Bay, however, remains as suspicious as ever.
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