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Withdrawal/Redaction Sheet Clinton Library DOCUMENT NO. SUBJECT/TITLE DATE RESTRICTION AND TYPE 001. note Speechwriter Search [Non-selection] (1 page) 00/00/0000 b(6) COLLECTION: Clinton Presidential Records Speechwriting Laura Capps OA/Box Number: 12621 FOLDER TITLE: Job Search 2016-0194-S bg27 RESTRICTION CODES Presidential Records Act - [44 U.S.C. 2204(a)] Freedom of Information Act - 15 U.S.C. 552(b)] P1 National Security Classified Information |(a)(1) of the PRA] b(1) National security classified information [(b)(1) of the FOIA] P2 Relating to the appointment to Federal office |(a)(2) of the PRAJ b(2) Release would disclose internal personnel rules and practices of P3 Release would violate a Federal statute [(a)(3) of the PRA] an agency [(b)(2) of the FOIA] P4 Release would disclose trade secrets or confidential commercial or b(3) Release would violate a Federal statute [(b)(3) of the FOIA] financial information [(a)(4) of the PRA b(4) Release would disclose trade secrets or confidential or financial P5 Release would disclose confidential advice between the President information [(b)(4) of the FOIA| and his advisors, or between such advisors |a)(5) of the PRA] b(6) Release would constitute a clearly unwarranted invasion of P6 Release would constitute a clearly unwarranted invasion of personal privacy |(b)(6) of the FOIA] personal privacy [(a)(6) of the PRA b(7) Release would disclose information compiled for law enforcement purposes [(b)(7) of the FOIA] C. Closed in accordance with restrictions contained in donor's deed b(8) Release would disclose information concerning the regulation of of gift. financial institutions [(b)(8) of the FOIA| PRM. Personal record misfile defined in accordance with 44 U.S.C. b(9) Release would disclose geological or geophysical information 2201(3). concerning wells [(b)(9) of the FOIA] RR. Document will be reviewed upon request. X CENTREVILLE, INC. M. Waldman- File re: job search Just what you need. -BR January 8, 1997 Mr. Bruce Reed Assistant to President Domestic Planning Room 216 Old Executive Office Building Washington, DC 20502 Dear Mr. Reed: What a helluva story! I enjoyed reading the article (GQ, Jan. '97) pertaining to your provocative multi-faceted life. As a substantive supporter of President Clinton, I would love to have the opportunity to write speeches for the man. Enclosed please find one of several speeches I have written--this one pertaining to the dark side of Las Vegas. If you should ever find the need for a West Coast "assistant", then please let me know. Very Truly, David I (ohen David Cohen DIC/kae Enclosures MARBEYA BUSINESS PARK 6655 W. Sahara Avenue, Suite A218 Las Vegas, NV 89102 702 365-1009 Fax 702 365-1620 ROTARY TheWheel hooked up with international film-maker, Bashar Shbib. They worked on four films together, with Cohen serving in various INTERNATIONAL capacities, including producer, writer, and actor. Las Vegas Rotary District 5300 In 1991, Cohen moved to Las Vegas and immediately set about filming Shbib's romance-comedy "Ride Me!" Then, in 1993, Today's Program - September 26, 1996 Cohen created a national TV award show project for the casino/resort industry entitled, "The Cassie Awards." Currently. Cohen is in development on a heavy metal thriller feature set to shoot in Quebec sometime late fall. Actively involved in the community, Cohen serves on the Boards of Directors of several local cultural arts organizations. He would be happy to sit on the Gaming Study Commission if anybody out there will nominate him. GOING, GOING, ALMOST GONE Noted author, educator, photographer, poet and Rotarian R. Guild Gray reminds us that this is the last day his book NATURE SINGS can be ordered through the Club. After today, orders should DAVID COHEN, AN OUTSIDERS be placed with Bob Coffin Books or directly with Guild. PERSPECTIVE ON LAS VEGAS Copies ordered before today are available at a table near the Born and raised in Calgary, Alberta, Canada, David Cohen entrance to the showroom. Thanks to Guild's largesse and the (40) obtained his degree in Economics from Yale. Originally, he Club's response, the Rotary Foundation is about $700 richer planned to enter the family business created by his father and five maybe a bit more after today. brothers. However, after spending a summer working on the film "Superman," Cohen found himself seduced by Hollywood. With a strong recommendation from James Tobin, Nobel Prize Winner in Economics, Cohen attended USC Graduate Film School. Afterward, he worked for the renowned cult film production company, Troma, in New York. There in the steamy bowels of "Hell's Kitchen," Cohen apprenticed in the rough and tough world of ultra-low-budget film-making. In 1984, Cohen wrote, directed, and produced "Hollywood Zap!" which became a Troma cult film classic, endorsed by film mass Sadler luminaries, Paul Bartel & John Waters. Subsequently, Cohen ** "Roughiu translated. it means Mrs. Willett on Maple Street has a new bird feeder. 1 DAVID COHEN'S SPEECH DELIVERED AT ROTARY CLUB ON SEPT. 26. 1996 THE YEAR OF THE LEMMING ON FEB. 24, 1996, MY GIRLFRIEND AND I ATE DINNER AT THE MOONGATE IN THE MIRAGE, SURROUNDED BY CHEERFUL FAMILIES RINGING IN THE CHINESE NEW YEAR, THE YEAR OF THE RAT. AT THAT TIME, I WONDERED WHAT CRITERIA THE CHINESE USE TO NAME YEARS AFTER CERTAIN ANIMALS? WELL, SEVEN MONTHS LATER, I MUST ADMIT THAT I AM TRULY IMPRESSED BY THE UNCANNY PERCEPTION OF THE CHINESE TO UNDERSTAND EXACTLY WHICH TYPE OF ANIMAL GOES WITH WHICH YEAR. YES INDEED, THIS IS TRULY THE YEAR OF THE RAT...AND MORE SPECIFICALLY, THIS IS THE YEAR OF THE LEMMING THAT LITTLE FURRY RODENT WHO SCURRIES ABOUT IN PACKS. SOMETIMES, FOR REASONS NOT QUITE KNOWN, THE PACK WILL SUDDENLY MAKE A BEELINE FOR A CLIFF, INTENT UPON A SUICIDAL JUMP INTO THE GREAT ABYSS. EVEN MORE EXTRAORDINARY IS THE COMPLETE MINDLESSNESS OF THE PACK AS ONE LEMMING AFTER ANOTHER RACES HEADLONG TOWARD DISASTER AND DEATH. NOW LADIES & GENTLEMEN, SOME OF YOU MAY BE CURIOUS AS TO WHY I AM OPENING MY LITTLE TALK WITH A DISCUSSION ABOUT CHINESE NEW YEAR AND LEMMINGS. ALLOW ME TO EXPLAIN BY GOING BACK IN TIME THREE YEARS BACK THEN, I CREATED A NATIONAL TV AWARDS CONCEPT FOR THE CASINO/RESORT INDUSTRY FOCUSING ON ENTERTAINMENT. I FLEW TONY CURTIS AND HIS WIFE TO LAS VEGAS AND WE UNVEILED THE CASSIE AWARDS AT SPAGO TO AN AMALGAM OF MEDIA, CASINO AND POLITICAL FIGURES. AT THAT TIME I RUFFLED MANY FEATHERS SINCE I CREATED THIS CONCEPT AS AN OUTSIDER TO A VERY PROMINENT INDUSTRY WITHOUT THE EXPRESS SANCTION OF ANY OF ITS SIGNIFICANT PLAYERS. 2 HOWEVER, I BELIEVED IN THE MERITS OF THE CONCEPT AND FELT THAT, WITH PERSISTENCE, I WOULD EVENTUALLY SEDUCE THE MAJOR PLAYERS IN THE INDUSTRY TO GET BEHIND THIS PROJECT. MOREOVER, I BELIEVED I COULD SECURE APPROXIMATELY 2--3 MILLION DOLLARS TO PRODUCE THE SHOW FROM THIRD PARTY SOURCES RATHER THAN DIRECT, INDUSTRY CONTRIBUTIONS. I FIGURED THAT, ULTIMATELY, THE NET EFFECT WOULD BE A WIN-- WIN SITUATION: FOR MYSELF, I WOULD CREATE AN ENTERTAINMENT VEHICLE THAT, IF NOT INITIALLY PROFITABLE, WOULD PRODUCE P.R. RESULTS THAT WOULD IMPRESS THE ENTIRE GAMING INDUSTRY-- so MUCH, IN FACT, THAT I HOPED THEY WOULD HELP FACILITATE MY OWN LAS VEGAS BASED FILM PRODUCTION ENTITY; FOR THE INDUSTRY, I SAW THE CASSIE AWARDS AS A CHANCE TO FASHION A MASS MEDIA SPECTACLE WITH TREMENDOUS IMAGE ENHANCEMENT VALUE. THE CASSIE AWARDS PRESENTED AN OPPORTUNITY FOR AN ENTIRE INDUSTRY TO COME OUT OF THE SHADOWS OF ITS TAINTED PAST, GET ON ITS FEET BEFORE THE ENTIRE WORLD, AND PROUDLY SHOUT, "WE ARE HERE AND WE ARE NEW AND FRESH AND VIBRANT AND WE ARE PROUD OF WHAT WE ARE DOING AND PROUD TO AWARD OUR VERY BEST--JUST AS EVERY OTHER ENTERTAINMENT INDUSTRY IN THE WORLD HAS DONE." UNFORTUNATELY, SOME THREE YEARS LATER, AFTER A GREAT DEAL OF EFFORT, I NOW ACKNOWLEDGE THAT THE SHOW IS NOT HAPPENING. AT THIS TIME, IN THE ABSENCE OF TWO OR THREE MAJOR BREAKTHROUGHS, I DOUBT IT EVER WILL. YET, WHEN ALL IS SAID AND DONE, I WOULD NEVER TRADE THE EXPERIENCE FOR ALL THE TEA IN CHINA. IT PRESENTED A TREMENDOUS NETWORKING OPPORTUNITY; A FANTASTIC OPPORTUNITY TO MAKE NEW AND TRUE FRIENDS; AND PROVIDED A TERRIFIC EDUCATION IN AN INDUSTRY IN WHICH I HAD NEVER BEEN ANYTHING OTHER THAN AN OCCASIONAL, MINOR INVESTOR. AS A RESULT, LADIES & GENTLEMEN, I STAND BEFORE YOU NOW--NOT AS THE FAILED PRODUCER OF THE CASSIE AWARDS OR SOME KIND OF BITTER LOSER INSTEAD, I STAND BEFORE YOU LIKE A MAN REBORN. 3 WHEREAS ONCE I WAS A NAIVE OUTSIDER, I NOW DECLARE I AM MORE KNOWLEDGEABLE ABOUT THE GAMING INDUSTRY THAN MANY OF THE EXECUTIVES THEMSELVES. I HAVE A MACRO PERSPECTIVE A BROAD OVERVIEW PROFOUND INSIGHT BECAUSE I HAVE AVOIDED GETTING CAUGHT UP IN THE INTRICACIES OF ITS DAILY AFFAIRS, E.G. PAYOUT RATIOS ON SLOT MACHINES; PROFIT TO COMP. RATIOS, ETC. IN OTHER WORDS, I CAN SEE THE FOREST FOR THE TREES! WHEREAS, ONCE I WAS BAFFLED BY THE PARANOIA AND COLDNESS THAT GREETED MY PROJECT'S UNVEILING, I NOW FEEL A SERENE SENSE OF UNDERSTANDING. WHEREAS, ONCE I WAS SURPRISED AND CONFUSED BY ABRUPT TRENDS AND DEVELOPMENTS IN THIS INDUSTRY, I NOW HAVE THE UNCANNY ABILITY TO PREDICT THEM. WHEREAS ONCE I LEANED ON ADVISORS AND PUBLIC RELATIONS REPS TO EXPLAIN AN ENTIRE INDUSTRY TO ME, I AM NOW MY OWN GAMING INDUSTRY EXPERT AND THAT IS THE REASON FOR THIS SPEECH--TO APPRISE YOU OF ALL I HAVE LEARNED IN THE EARNEST HOPE I CAN AVERT WHAT I BELIEVE IS AN IMPENDING ECONOMIC AND SOCIAL CRISIS IN MY NEW HOME OF LAS VEGAS. FOR ALL ITS FLAWS, I HAVE A PROFOUND LOVE FOR THIS EXCITING, MAGICAL TOWN WITH ITS BEAUTIFUL MOUNTAIN VISTAS AND STUNNING PASTEL SUNSETS. YOU KNOW, AT AN EVENT HERE IN TOWN, I REMEMBER I WAS CONFRONTED BY AN OLD LAS VEGAS DENIZEN WHO REPROACHED ME FOR ARRIVING HERE AND SELF-ANOINTING MYSELF AS THE PRODUCER OF A MAJOR EVENT FOR AN INDUSTRY THAT HAD NEVER INVITED ME INTO ITS FOLDS. THIS PERSON--WHO HAD NOTHING TO DO WITH THE GAMING INDUSTRY-- COMPARED ME TO A SCHOOL BULLY WHO EXTORTS OTHER KIDS FOR THEIR LUNCH MONEY. 1 AT THAT TIME, I COULDN'T QUITE UNDERSTAND THE FEROCITY OF THIS PERSON'S ANGER. SOMEHOW I REALIZED THIS PERSON WAS ONLY PARROTING THE VENOMOUS WORDS OF SOME UNKNOWN ANTAGONIST. FOR SOME TIME, THOSE ANGRY WORDS BOTHERED ME. AFTER ALL, I WASN'T TRYING TO EXTORT MONEY FROM THE INDUSTRY-- INSTEAD, I WAS USING PERSONAL MONIES AND SEARCHING FOR THIRD PARTY, NON-GAMING SOURCES OF FINANCING. AFTER FURTHER REFLECTION, I REALIZED THAT MY APPROACH, ALTHOUGH NOT THE MOST SUBTLE, NEVERTHELESS, WAS PERFECTLY ACCEPTABLE BEHAVIOR. AFTER ALL, WHAT WAS THE DIFFERENCE BETWEEN MY ACTIONS AND THOSE OF THE GAMING COMPANIES THAT INVADE NON-GAMING TERRITORIES WITH POLITICAL LOBBYISTS AND BUNDLES OF CASH IN HAND? OR FOR THAT MATTER, TAKE A LOOK AT THE GREATEST SUCCESS STORY IN THE GAMING INDUSTRY, FINANCED BY A FELLOW NAMED MILKEN. UTILIZING JUNK BONDS, MILKEN CREATED AN ENTIRE CARTEL OF PROFESSIONAL EXTORTIONISTS (ALSO KNOWN AS CORPORATE RAIDERS). AT WORST, I COULD BE COMPARED TO A CORPORATE RAIDER BUT THEN...SO WHAT! SOMETIMES IT TAKES AN UNUSUALLY FORCEFUL APPROACH TO BREAK DOWN THE BARRIERS IN OUR SOCIETY IN ORDER THAT A GREAT CONCEPT CAN BE REALIZED. IT NEVER CEASES TO AMAZE ME HOW CERTAIN OUTSIDERS SPEND YEARS AND YEARS STRIVING TO GET THEIR BETTER MOUSETRAPS REALIZED. THESE OUTSIDERS SCRAPE AND CLAW SUFFERING THE CONSTANT ABUSE AND OBSTACLES FOISTED UPON THEM BY THE RULING ELITE. FINALLY, WHEN THESE OUTSIDERS REACH ESTABLISHMENT STATUS, RATHER THAN FEELING EMPATHETIC FOR THOSE WHO COME ALONG WITH THEIR OWN BETTER MOUSETRAPS, THEY DISH OUT THE SAME ABUSIVE TREATMENT THEY ONCE so DESPISED. WHEN WILL THIS VICIOUS CIRCLE END? 5 AFTER ALL, IT IS SIMPLY NOT IN THE BEST INTERESTS OF A HEALTHY SOCIETY TO SUPPRESS ALL THOSE BETTER MOUSETRAPS OUT THERE. AND YET, NOW I UNDERSTAND HOW THE GAMING INDUSTRY WORKS AND HOW CERTAIN INDIVIDUALS CONTROL IT. I UNDERSTAND THAT THE ALMIGHTY POWERS IN THIS INDUSTRY AND TOWN DETERMINED SOME TIME AGO THAT THE TERM "ENTERTAINMENT CAPITAL OF THE WORLD" SHOULD UNDERGO A RADICAL TRANSFORMATION. PREVIOUSLY ENTERTAINMENT REFERRED PRIMARILY TO HEADLINERS, ADULT- THEMED EXTRAVAGANZAS, AND LOUNGE ACTS. HOWEVER, CIRCUS CIRCUS INTRODUCED THE CONCEPT OF "DISNEYLAND IN THE DESERT," PROVIDING AN ENVIRONMENT ORIENTED TOWARD THE MASS-MARKET, FAMILY CONSUMER. THEREAFTER THE MIRAGE GROUP ADOPTED A HIGHER-END VARIATION OF THE CIRCUS METHOD--AND WITH EVEN GREATER SUCCESS! BY THE TIME THE NINETIES BEGAN, IT WAS OBVIOUS THAT THE MOST PROFITABLE CASINO IN VEGAS--THE MIRAGE-- PROVIDED A "DISNEYLAND" TYPE OF EXPERIENCE WITH EXPLODING VOLCANOES, WHITE TIGERS AND DANCING DOLPHINS. NATURALLY, THE OVERWHELMING SUCCESS INSPIRED NUMEROUS IMITATORS, UNTIL FINALLY, WHAT WE HAVE HERE TODAY IS TRULY "DISNEYLAND IN THE DESERT." ROLLERCOASTERS EVERYWHERE-- ON TOP OF THE STRATOSPHERE. IN FRONT OF NEW YORK, NEW YORK A DAZZLING LIGHT SHOW DOWNTOWN PIRATE SHIP BATTLES PARAGLIDING AT THE MGM WADE POOLS AT MONTE CARLO INTERACTIVE VIDEO GAMES AT THE LUXOR. ALONG WITH THIS TREND WE FIND THE SHOWROOMS AND LOUNGES CLOSING DOWN. 6 THE HEADLINERS ARE RELEGATED TO FILL-IN SPOTS WHEN THE ROBOTIC ENTERTAINMENTS UNDERGO MAINTENANCE. THE TOPLESS GIRL EXTRAVAGANZAS GROW CONSIDERABLY TAMER OR IN SOME CASES, ARE REPLACED ALTOGETHER. IN THEIR PLACE ARE FAMILY-ORIENTED SUPER-EXTRAVAGANZAS, WHICH THE CASINO RESORTS INTEND TO RUN INDEFINITELY. THE ULTIMATE RESULT IS THE DEATH OF THE HEADLINER, ALONG WITH THE DEATH OF HIS AGENT, HIS MANAGER, THE ENTERTAINMENT DIRECTOR, THE COCKTAIL WAITRESSES, MAITRE D'S, AND THE SHOW CRITIC. IT IS THE DEATH OF TALENT, CULMINATING SIMULTANEOUSLY IN THE SUPREME EMPOWERMENT OF THE CASINO EXECUTIVES AND OWNERS. THE STRATEGY IS SIMPLE BUILD A ROBOTIC ENTERTAINMENT OR NON-STAR EXTRAVAGANZA OR THRILL RIDE HIRE A BUNCH OF OPERATORS AND EXTRAS AND PERFORMERS AT MINIMUM WAGE LEVELS AND IF ANYBODY GIVES YOU FLAK, YOU FIRE THEM ON THE SPOT. NO SUPERSTAR EGOS TO DEAL WITH. LET ALL THE GREAT STARS GO TO BRANSON AND EAT SQUIRREL. UNFORTUNATELY, I BELIEVE THAT THE GAMING RESORT OPERATORS ARE DEFINITELY KILLING THE GOOSE THAT LAID THE GOLDEN EGG. THE EVIDENCE IS EVERYWHERE. THE OTHER DAY, I SPOKE BY PHONE WITH SEVERAL N.Y. BUDDIES OF MINE. THEY WERE FREQUENT ANNUAL VISITORS TO THIS TOWN SINCE I MOVED HERE. ON EACH VISIT THEY WOULD PROCEED TO BLOW TENS OF THOUSANDS OF DOLLARS AT THE CRAPS AND CARD TABLES. YET, LAST YEAR THEY DID NOT SHOW UP. "WHAT HAPPENED?" I ASKED OVER THE PHONE, WHEN THEY FAILED TO MAKE THEIR ANNUAL PILGRIMAGE. "WHY DON'T YOU GUYS COME OUT HERE ANYMORE?" "WELL DAVID," ONE BUDDY GROWLED, "WE'RE MARRIED WITH KIDS. WE USED TO COME TO VISIT VEGAS TO GET AWAY FROM THE KIDS 7 EXCEPT NOW EVERYWHERE YOU GO YOU'VE GOT THESE ROTTEN LITTLE STINKERS RUNNING UNDERFOOT. ALSO, YOU KNOW HOW CROWDED AND CONGESTED MANHATTAN IS? WELL WE USED TO GO TO VEGAS TO DECOMPRESS, ONLY PROBLEM IS WHEN YOU FLY OVER, ALL THE PLANES ARE FULL AND THEY PACK YOU IN LIKE SARDINES. YOUR STREETS ARE so DAMN CROWDED YOU CAN'T DRIVE ANYWHERE NOW AND THERE ARE LINES FOR EVERYTHING. THE LAST TIME WE WERE THERE, WE JUST SAT IN THE TRAFFIC AND DID A SLOW BURN. AND LOOK AT WHAT THEY'VE DONE TO THE SHOWROOMS THERE NOT ONLY CAN'T A GUY GET A MEAL ANY LONGER, BUT NOW THEY'RE GETTING RID OF THE COCKTAIL WAITRESSES AND SETTING UP SELF-SERVE BARS. DO YOU THINK WE WANT TO LINE UP AT SOME BAR WITH A BUS TOUR IN ORDER TO GET SOME DRINKS? AND NOW, WE HEAR, THEY'RE BUILDING A SKYLINE OF NEW YORK OUT THERE! LISTEN, WHEN WE LEAVE THIS CITY OF NEW YORK ON A VACATION, THAT'S THE LAST SKYLINE IN THE WORLD WE WANT TO SEE ANYWHERE ELSE! LET ME TELL YOU ANOTHER STORY: ABOUT TWO MONTHS AGO, I GO TO A NEW SHOWROOM HERE IN TOWN. I TAKE AN OUT- OF-TOWN GUEST FROM THE CANADIAN PRAIRIE, WHO IS MAKING HIS FIRST VISIT TO LAS VEGAS. NATURALLY, HE IS EXCITED TO SEE A VEGAS SHOW AFTER HEARING ALL THE HYPE ABOUT THIS TOWN FOR YEARS IN THE CANADIAN MEDIA. THE NEW SHOWROOM IS QUITE ATTRACTIVE AND FEATURES A TALENTED IMPRESSIONIST BUT YET THE PRODUCTION VALUE IS HALF-ASSED THERE ARE NO BACKDROPS ONLY THREE SUPPORTING MUSICIANS, AND MAYBE ONE OR TWO SPOTLIGHTS. APPREHENSIVELY, I STARE AT MY FRIEND, WONDERING WHAT HIS REACTION WILL BE TO HIS FIRST VEGAS ENTERTAINMENT EXPERIENCE. WHEN THE SHOW ENDS, HE IS QUIET, SEEMINGLY DEEP IN THOUGHT AS WE EXIT TO THE PARKING GARAGE. "WELL, WHAT DID YOU THINK?" I FINALLY BLURT OUT. 80 "DAVID, I GOTTA BE HONEST," HE ANSWERS. "THE PERFORMERS ARE OKAY BUT I'VE SEEN HIGH SCHOOL PLAYS IN SASKATCHEWAN WITH MORE RAZZLE-DAZZLE AND PRODUCTION VALUE THAN THAT SHOW." IN MY SPEECH DELIVERED AT ROTARY IN 1993, I MADE REFERENCE TO THE SIMILARITIES BETWEEN LAS VEGAS AND MY HOMETOWN OF CALGARY ALBERTA, CANADA. I DESCRIBED THE ECONOMIC BOOM THAT FIRST OCCURRED IN CALGARY AND ITS DOMINANT OIL & GAS INDUSTRY. THIS BOOM CYCLE LASTED THE PROVERBIAL BIBLICAL SPAN OF SEVEN YEARS, ONLY TO BE UNDONE BY A CHANGE IN THE NATIONAL GOVERNMENT'S OIL & GAS POLICY, RISING INTEREST RATES, AND AN OIL GLUT. WELL, LADIES AND GENTLEMEN, WE ARE NOW SEVEN YEARS FROM THE OPENING OF THE MIRAGE, WHICH KICKED OFF AN UNPRECEDENTED RENAISSANCE HERE. UNFORTUNATELY, JUST AS OCCURRED IN CALGARY, THE STORM CLOUDS ARE GATHERING. WE FIND A TOWN IN WHICH THE PHYSICAL INFRASTRUCTURE IS TAXED TO THE LIMIT. IT ALMOST SEEMS LIKE THE NEW GAMING RESORT "NEW YORK - NEW YORK" EMBODIES THE PERFECT METAPHOR OF WHAT LAS VEGAS IS BECOMING. THE ROADWAYS ARE CLOGGED AND SOMETIMES IT TAKES 20 MINUTES TO TRAVEL ONE BLOCK DOWN THE STRIP. FREQUENT, DENSE SMOG AND INCREASING NUMBERS OF TALL STRUCTURES IMPEDE THE VIEW OF THE DESERT HORIZONS. ONCE, WHEN I RAISED THE TRAFFIC PROBLEMS WITH A LOCAL BUSINESSMAN, HE CITED BRANSON, MISSOURI AS AN EXAMPLE OF TRAFFIC CONGESTION IN WHICH THE PEOPLE JUST KEEP COMING WILLING TO SIT IN TRAFFIC FOR HOURS. HOWEVER, IT OCCURS TO ME THAT THE FARMERS AND COWBOYS WHO VISIT BRANSON ARE A TOTALLY DIFFERENT CROWD THAN THE AVERAGE VISITOR TO VEGAS. ALTHOUGH THEY MAY BE WILLING TO "WATCH THE WHEAT GROW," I DO NOT BELIEVE THE TYPICAL VEGAS VISITOR IS so INCLINED. 9 THE RISING INTEREST RATES AND CONSEQUENT REVALUATION OF THE AMERICAN DOLLAR AGAINST MOST MAJOR FOREIGN CURRENCIES WILL LIKELY RESULT IN MORE AMERICAN TOURISTS TAKING VACATIONS ABROAD. WE FIND AN INDUSTRY THAT HAS BECOME so RICH AND SUCCESSFUL THAT IT HAS ENGENDERED GREAT ENVY AND RESENTMENT FROM VARIOUS QUARTERS. JUST AS THE NATIONAL ENERGY POLICY CREATED A MAJOR REVERSAL FOR THE CANADIAN OIL & GAS INDUSTRY BACK IN '81, so WE FIND THE CREATION OF AN ANALOGOUS ENTITY: THE NATIONAL GAMING STUDY. JUST AS HIGH PROFITS SPURRED MAJOR CANADIAN OIL & GAS COMPANIES TO UNDERTAKE RISKIER OIL EXPLORATION. so THE INTOXICATING RUSH OF PROFITS INSPIRES THE GAMING INDUSTRY TO EXPAND INTO NEW TERRITORIES. THE HEAD-LONG RUSH INTO ATLANTIC CITY AND MISSISSIPPI'S GULF COAST SAPS THE ENERGY AND RESOURCES OF THE INDUSTRY. WITH THE RECESSION LOOMING, THEY SPREAD THEMSELVES THIN. JUST AS CANADIAN OIL & GAS COMPANIES BELIEVED THAT DEEP-WELL TECHNIQUES, PROCEDURES AND LOGIC COULD BE APPLIED TO NEW FRONTIERS, so DO LAS VEGAS GAMING COMPANIES EXTRAPOLATE THAT "WHATEVER WORKED IN VEGAS WILL WORK ELSEWHERE." YET IT IS APPARENT THAT EACH MARKET IS RADICALLY DIFFERENT FROM THE OTHER. LAS VEGAS: THE NEW FRONTIER CLEAN AND SUNNY. ATLANTIC CITY: BURDENED BY CENTURIES OF ROTTING INFRASTRUCTURE CLOUDY AND FILTHY. MISSISSIPPI GULF COAST: OLD SOUTH POLITICS, PADDLEBOATS AND SHANTY TOWNS STEAMY AND WET. WHAT IMPELS A HEALTHY PROSPEROUS INDUSTRY TO MAKE MOVES THAT ARE BOUND TO UNDERMINE ITS SUCCESS? FIRST OF ALL, THERE IS THE EGO FACTOR. LET'S LOOK AGAIN AT THE CANADIAN OIL & GAS INDUSTRY IN THE LATE '70'S. 10 AT THAT TIME, THE DARLING OF THE INDUSTRY WAS A COMPANY NAMED, DOME ETROLEUM, LED BY A VISIONARY, DYNAMIC, GENTLEMAN. JACK GALLAGHER. IN DESCRIBING THE MAN, LET ME QUOTE FROM THE BOOK, THE BLUE EYED SHEIKS, "SMILING JACK GALLAGHER. HAS PERHAPS THE MOST INFLUENTIAL TEETH IN CANADIAN BUSINESS A SIGHTING OF HIS SMILE ON BAY OR WALL STREETS IS BOUND TO SEND A SHIVER THROUGH STOCK MARKETS A FLASH OF HIS DENTAL WORK IN OTTAWA HAS BEEN KNOWN TO CAUSE WHOLE FEDERAL BUDGETS TO BE REVISED." EARLY IN THE GREAT CANADIAN OIL & GAS BOOM, DOME BUILT ONE OF THE MOST EXPENSIVE IMPOSING OFFICE TOWERS IN CALGARY. IT'S STOCK WAS ONE OF THE MOST ACTIVELY TRADED ON THE TORONTO STOCK EXCHANGE AND THE SHARE PRICE EXPERIENCED A METEORIC CLIMB. BETWEEN 40 AND 50 MAJOR INTERNATIONAL BANKS THREW MONEY AT GALLAGHER AND DOME OFTEN WITHOUT PERFORMING ONE SCINTILLA OF DUE DILIGENCE. THE CANADIAN MEDIA AND INDUSTRY EXECUTIVES HAILED GALLAGHER AS AN ORACLE. "HIS EVERY WORD WAS CONSIDERED A GOLDEN NUGGET TO BE ANALYZED, DECIPHERED, AND ULTIMATELY EXTOLLED." AS TIME PROGRESSED, GALLAGHER'S EGO EXPANDED ALONG WITH THE EXPONENTIAL INCREASE IN ACCOLADES. THE MAN BEGAN TO BELIEVE HIS OWN MYTHOLOGY ENCAPSULATED IN THE BELIEF THAT HE SIMPLY COULD DO NO WRONG. ALTHOUGH DOME'S EARLY SUCCESS WAS BASED PRIMARILY UPON CONVENTIONAL OIL & GAS EXPLORATION, GALLAGHER DETERMINED THAT NEW AND RISKIER FRONTIERS NEEDED TO BE EXPLORED. 11 ONCE GALLAGHER DETERMINED THAT DOME SHOULD UNDERTAKE MAJOR OFFSHORE EXPLORATION, HIS DECISION INSPIRED A WAVE OF COPY-CAT ACTIVITY THROUGHOUT THE INDUSTRY. EVEN JUNIOR OIL & GAS COMPANIES GOT ON THE BANDWAGON. LEMMINGS EVERYWHERE. MOST OF THESE COMPANIES WHO JOINED THE "GALLAGHER STAMPEDE" BELIEVED HIS DECISION WAS PREDICATED UPON HIS CUSTOMARY, CAREFUL ANALYSIS OF MARKET CONDITIONS, MACRO-ECONOMIC FACTORS, AND COST/BENEFIT RATIOS HOWEVER, IF THESE OILMEN HAD SEEN BEYOND THE MIRAGE OF GALLAGHER'S ACTIONS, THEY PROBABLY WOULD HAVE DETECTED SOME SCARY MOTIVATING FACTORS. GALLAGHER'S PRIMARY INTENT IN MOVING OFFSHORE WAS NOT PROFIT. RATHER, IT WAS THE SATISFACTION OF HIS BURGEONING EGO. IN ORDER FOR GALLAGHER TO PLAY IN THE INTERNATIONAL BIG LEAGUES OF THE MAJOR OIL & GAS COMPANIES, SUCH AS EXXON, SHELL AND MOBIL HE NEEDED TO BECOME AN ACTIVE PLAYER IN THEIR DOMAIN NAMELY IN THE COSTLIEST, RISKIEST AREAS OF OIL & GAS EXPLORATION. MOREOVER, GALLAGHER HAD A MAJOR RIVAL. HIS NAME ROBERT BLAIR, THE PRESIDENT OF ALBERTA GAS TRUNK LINES. THIS FIERCE COMPETITION INSPIRED GALLAGHER AND DOME TO MAKE A MAJOR PURCHASE OF THE TRANS-CANADA PIPELINE COMPANY THEREBY MOVING INTO THE NEW, UNFAMILIAR TERRAIN OF GAS TRANSMISSION. IT WAS A SHORT TERM VICTORY WON AT EXCESSIVE COST. BECAUSE, IN '81, THE DROP IN OIL & GAS PRICES ALONG WITH A SHARP RISE IN INTEREST RATES AND A HOSTILE POLITICAL ENVIRONMENT LEFT DOME WITH A HEAP OF UNSERVICEABLE DEBT. WHEN I STUDIED ECONOMICS AT YALE, I DISCOVERED WHAT IS KNOWN AS HISTORICAL DETERMINIST ECONOMICS. IT POSITS THAT ALL COMPANIES, INDUSTRIES, AND ECONOMIES, MOVE IN CYCLES OF FIXED DURATION, IRRESPECTIVE OF THEIR UNIQUE NATURE. 12 ALTHOUGH SOMETIMES ANOMALIES DEVELOP THAT ALTER THE LENGTH OF THE CYCLE, NEVERTHELESS, THE BOOM/BUST CYCLE IS AS INEVITABLE AS THE CHANGE OF SEASONS. AS A HISTORICAL DETERMINIST, I CAN SAFELY AND CATEGORICALLY STATE THAT THE GAMING BOOM IS OVER, WITH THE APEX HAVING BEEN REACHED THIS SUMMER. IN A RECENT ARTICLE IN BARRON'S, JONATHAN LAING SPECULATED THAT A DOWNTURN IS AT HAND THAT WILL AFFECT PRIMARILY THE SMALLER GAMING COMPANIES. HOWEVER, I BELIEVE HIS ANALYSIS IS FAR TOO SANGUINE. THE DOWNTURN WILL BE WIDESPREAD AND WEIGH VERY HEAVILY UPON THE MAJORS. ON THE OTHER HAND, YOU STILL MAY SEE STRENGTH IN CERTAIN GAMING COMPANIES THAT CATER TO THE LOCALS MARKET. AFTER ALL, AS THE DOWNTURN OCCURS, THOUSANDS OF DOWNSIZED GAMING EMPLOYEES WILL PROBABLY SEEK SOME FORM OF RELIEF AT THEIR NEIGHBORHOOD CASINO. CASINO GAMING SUPPLIERS STILL MIGHT FLOURISH AS THE INDUSTRY FOCUSES FUTURE GROWTH ON RENOVATION RATHER THAN NEW CONSTRUCTION. HOWEVER, THE MAJOR TOURIST RESORTS HAVE A GREAT DEAL OF DOWNSIDE RISK. NOT ONLY IS IT EVIDENT THAT THE INFRASTRUCTURE IS OVEREXTENDED THE CONSUMER INCREASINGLY REPELLED AND THE COMPETITION CANNIBALIZING ITSELF BUT A STRANGE SCHIZOPHRENIA HAS DEVELOPED TOO. FOR INSTANCE, TAKE A LOOK AT MONTE CARLO: THE INTERIOR SUGGESTS A GRAND HOTEL FROM OLD EUROPE VERY APPEALING TO ADULTS, NOT SO APPEALING TO KIDS. HOWEVER, STEP INTO THE OUTSIDE POOL AREA AND ONE ENCOUNTERS WADE POOLS, AND NOISY, YOUTHFUL EXUBERANCE GALORE VERY APPEALING TO KIDS; NOT so APPEALING TO ADULTS. UNFORTUNATELY, WHEN THE INITIAL ENTHUSIASM OF ITS GRAND OPENING SUBSIDES, THEN I PREDICT IT WILL ENCOUNTER PROBLEMS. AGAIN, THE COLLISION OF DISNEY CULTURE WITH ADULT THEMES SPELLS TROUBLE. 13 IT IS A PERFECT EXAMPLE OF A TOWN ATTEMPTING TO BE EVERYTHING TO EVERYBODY AND ULTIMATELY SUCCEEDING IN BECOMING EVER-ANNOYING TO EVERYONE. THE NET RESULT: EXECUTIVES SPEAK ABOUT THE TOWN IN OXYMORONIC TERMS. MONTE CARLO IS DESCRIBED AS AN EXAMPLE OF "POPULAR ELEGANCE" WHAT THE HELL DOES THAT MEAN? LAUGHABLE IMAGES COME TO MIND HOT DOGS SERVED ON SILVER TRAYS, OR MAYBE EVEN. IF YOU CAN IMAGINE WADE POOLS SET AGAINST VICTORIAN STATUES. NOW BEFORE YOU ACCUSE ME OF SIMPLY CRITICIZING WITHOUT PROPOSING SOLUTIONS, LET ME UNDERSCORE MY FUNDAMENTAL OPTIMISM ABOUT THE INDUSTRY AND TOWN. I DO NOT BELIEVE THE PROBLEMS ARE INTRACTABLE. AS I SAID EARLIER, THEY ARE KILLING THE GOOSE THAT LAID THE GOLDEN EGG...SO I SAY, RESURRECT THE GOLDEN GOOSE! OF COURSE, I AM NOT so DELUDED TO THINK THAT THE GOLDEN GOOSE SHOULD BE REVIVED IN ITS ORIGINAL FORM. NO, I AM NOT ESPOUSING RAT PACK ENTERTAINMENT IN EVERY CASINO--NOR SMOKY LOUNGES FEATURING TIRED, OLD ACTS THAT EVEN YOUR GRANDMA CAN'T STAND. NO, I AM PROPOSING THE AMPLIFICATION OF A NEW GAMING ENTERTAINMENT CONCEPT THAT HAS PROVEN ENORMOUSLY SUCCESSFUL AND REPRESENTS THE WAVE OF THE FUTURE. THIS NEW GAMING ENTERTAINMENT CONCEPT WAS CREATED BY THE SINGLE GREATEST GENIUS/ORACLE TO ARRIVE IN OUR COMMUNITY IN RECENT PAST. THE MAN INVENTED ONE OF THE MOST IMAGINATIVE, SUCCESSFUL FRANCHISES IN THE USA. FROM THIS, HE EXTRAPOLATED A SIMILAR ENTERTAINMENT CONCEPT IN THE GAMING ARENA. OF COURSE, I AM SPEAKING OF PETER MORTON OF HARD ROCK HOTEL FAME. LISTEN VERY CAREFULLY TO WHAT THIS MAN SAYS 14 HIS WORDS ARE PEARLS OF WISDOM BECAUSE HE REPRESENTS THE CUTTING EDGE OF WHAT GAMING OUGHT TO EVOLVE INTO, IF IT HAS ANY HOPE OF PROSPERING INTO THE 21ST CENTURY. ADULT, SEXY AND ORIENTED TOWARD THE DOMINANT BABY BOOM CULTURE, THE HARD ROCK ENTERTAINMENT CONCEPT IS A MODERN VARIATION OF WHAT VEGAS ONCE WAS AND SHOULD BECOME AGAIN. UNFORTUNATELY, THE DISNEYLAND-IN-THE-DESERT THEMES HAVE HAD THEIR DAY. NO ONE CAN DENY THEIR ORIGINAL BRILLIANCE. HOWEVER, TODAY, THEY ARE AS VIBRANT AS OLD DINOSAUR BONES. THE BOTTOM LINE IS THIS KIDS AND ADULTS DO NOT WORK IN CONJUNCTION WHERE GAMING IS CONCERNED. WHEN YOU PUT KIDS INTO THE PICTURE, YOU ALIENATE TWO MAJOR GROUPS OF ADULTS: ONE THE ADULTS THAT WISH TO INDULGE IN ADULT ACTIVITY WITHOUT KIDS GETTING UNDERFOOT AND TWO, THE ADULTS THAT ARE MORALLY OFFENDED WHEN THEY SEE YOUNG KIDS IN THE PROXIMITY OF ADULT ACTIVITY. IT IS THIS LATTER GROUP OF ADULTS THAT THE GAMING INDUSTRY MUST FEAR THE MOST BECAUSE THEY WILL USE THE ADULTS-CORRUPTING-KIDS SERMON TO TRY AND SHUT DOWN THE TOWN IN ITS CURRENT PERMUTATION. LET ME REMIND YOU IN THE WESTERN CANADIAN OIL PATCH, 1981, IT WAS NOT SIMPLY CHANGES IN OIL & GAS SUPPLY AND RISING INTEREST RATES THAT HURT THE INDUSTRY A MUCH GREATER FACTOR WAS A CHANGE IN GOVERNMENTAL REGULATION CHANGES INSPIRED PRIMARILY BY ENVY AND MORAL OFFENSE. THE ENVY BECAUSE THE EASTERN CANADIAN LAWMAKERS WERE JEALOUS OF THE ENORMOUS WEALTH FLOWING INTO THE COFFERS OF THE ALBERTA GOVERNMENT. THE MORAL OFFENSE BECAUSE THE REST OF THE COUNTRY BELIEVED THAT THE ALBERTA OILMEN WERE MORE INTERESTED IN A MATERIALISTIC DECADENT LIFESTYLE THAN THE PURSUIT OF THE HIGHER SOCIAL GOALS OF CANADA. 15 IN OTHER WORDS, EVEN IF I AM WRONG AND THE ECONOMIC CYCLE DOES NOT HOBBLE THE GAMING INDUSTRY, THEN THE POLITICAL CURRENT SURELY WILL! WHERE LAS VEGAS IS CONCERNED, IN ORDER TO PROTECT OR PROLONG THE VITALITY OF GROWTH HERE, IT IS ESSENTIAL THAT CERTAIN DEVELOPMENTS OCCUR. FIRST AND FOREMOST, THE WATER SUPPLY MUST EITHER BE AUGMENTED DRAMATICALLY OR WATER CONSUMPTION MUST BE CURTAILED. WE CANNOT TREAT OUR PRECIOUS WATER SUPPLY WITH THE SAME DISREGARD AS OUR ROADS. WE CANNOT WAIT AND FIX THE PROBLEM AT THE POINT THE TAPS RUN DRY. DIVERSIFICATION OF INDUSTRY IS IMPERATIVE TO AVERT THE DOWNTURN. THIS STATE MUST PUT ITS FOOT TO THE PEDAL ON THIS ISSUE. FOR EXAMPLE, NEVADA IS AN IDEAL PLACE TO BUILD A HUGE VIBRANT FILM-MAKING INDUSTRY. THEY HAVE HOLLYWOOD IN L.A...WHY NOT CACTUS-WOOD IN VEGAS? MOST IMPORTANTLY, DURING THE RECENT BOOM, TENS OF THOUSANDS OF NEWCOMERS HAVE POURED INTO LAS VEGAS. THEY BRING A RADICAL FRESH APPROACH AND LOTS OF ENERGY. THE NEWCOMERS ARE NOT THE PROBLEM BUT THEY COULD BE THE PROBLEM SOLVERS. YET, TAKE A GOOD LOOK AT THE BOARDS OF DIRECTORS OF THE MAJOR CIVIC INSTITUTIONS IN THIS TOWN. THE SAME NAMES AND FACES DOMINATE THE SCENE--THE SAME MAJOR CASINO OWNERS, THE SAME POLITICIANS, THE SAME REAL ESTATE BARONS, THE SAME PROFESSIONALS; THE SAME EX OFFICIO PLAYERS IN OTHER WORDS "OLD LAS VEGAS." TO PARAPHRASE PRESIDENT REAGAN AS HE STOOD BEFORE THE BERLIN WALL, LET ME BOLDLY STATE: "OLD LAS VEGAS TEAR DOWN THIS WALL!" 16 YOU KNOW, A LITTLE OVER A YEAR AGO, MY PROJECT, THE CASSIE AWARDS, LOOKED LIKE A SURE THING. WE HAD JUST CREATED A JOINT VENTURE WITH THREE OTHER PRODUCERS. WE HAD SIGNED INTEREST FROM 10 CELEBRITIES TO APPEAR ON THE SHOW. SEVERAL TV NETWORKS WERE REQUESTING MEETINGS. THE WORLD APPEARED TO BE OUR OYSTER THE FUTURE SEEMED so ROSY. THEN, BIT BY BIT, EVERYTHING FELL APART. THE JOINT VENTURE DISSOLVED, THE NETWORKS WOULD NOT CONDESCEND TO MEET US ANY LONGER, AND THE CASINO EXECS GRADUALLY CUT OFF ALL COMMUNICATION. AT THE TIME, I WAS SHOCKED. HOW COULD THIS DISASTER OCCUR? I MEAN, EVERYTHING LOOKED so GOOD so CERTAIN. AS IT HAPPENED, I RE-ENCOUNTERED A BEAUTIFUL WOMAN FROM MY PAST. WE WENT OUT AND SLOWLY BUT SURELY, WE FELL IN LOVE. IN THE COURSE OF OUR RELATIONSHIP, THERE HAS BEEN A GOOD DEAL OF ADVERSITY, YET, ALONG WITH THE TROUBLES AND PROBLEMS, WE'VE DEVELOPED A GREAT DEAL OF INSIGHT. FOR MYSELF, THE MOST PROFOUND INSIGHT IS THIS: IT WAS MEANT FOR ME TO EXPERIENCE ADVERSE TIMES; IT WAS MEANT FOR ME TO REUNITE WITH THIS WOMAN UNDER NOT-SO-HAPPY CIRCUMSTANCES; IT WAS MEANT FOR ME TO FALL OUT OF THE VORTEX AND TURMOIL OF THE CASSIE AWARDS AND RE-DISCOVER WHAT REALLY MATTERS IN THIS WORLD. IN THIS EXPERIENCE, I SEE A METAPHOR FOR LAS VEGAS. SOMETIMES, THINGS LOOK SO GOOD, so WONDERFUL, so CERTAIN AND THEN POOF! IT CAN JUST DISAPPEAR LIKE THAT. YET, WHEN ADVERSITY FINALLY HITS THIS TOWN, I HOPE EVERYONE WILL BE STOICAL AND UPBEAT BECAUSE, THROUGH ALL THE TROUBLES AND TURMOIL, WE WILL GAIN GREAT INSIGHT INTO WHO AND WHAT WE ARE AND WHAT WE SHOULD BECOME. THANK YOU. Withdrawal/Redaction Marker Clinton Library DOCUMENT NO. 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