The New York Times article, "Las Vegas Sags as Conventions Cancel" demonstrates how the current economic upheaval has effected the city of Las Vegas. Prior to the downturn in the economy Las Vegas had become the city of choice for corporate conventions and industry trade shows. However now some seem to think that Las Vegas epitomizes the excesses that has brought the U.S. economy to a near screeching halt. According to Mayor Oscar Goodman, "There’s an impression out there that somehow if you come to Las Vegas, it’s going to reflect on your business culture, and that’s a bunch of hooey.”Government bailout money given to financial giant Goldman Sachs has also had a recent negative impact on the city. This week President Obama advised companies that they, "can’t go take a trip to Las Vegas or go down to the Super Bowl on the taxpayer’s dime.” Given the President's remarks, Goldman Sachs promptly cancelled the firms Las Vegas conference deciding that the $600,000 cancellation fee was worth the cost in order to avoid negative press. In a statement to the press, Goldman Sachs claimed their decision to cancel was “based on our best efforts to operate according to the requirements of the new landscape of our industry." Clearly, the economic crisis has had an effect on the economy of Las Vegas. Looks like,"What Happens There, Comes Here."
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