The Macau Metro Monitor, January 21, 2011
WYNN LEADS FROM THE TOP Intelligence Macau, macaubusiness.com
Steve Wynn announced a 6% salary increase yesterday for all the company’s non-management employees, effective February 1, 2011. He said, “This is our grateful response to the leadership provided by Chief Executive Fernando Chui Sai On and Secretary Francis Tam concerning the rise in the cost-of-living for Macau residents.”
IM praised Wynn's decision, citing its leadership in dealing with the inflation issue and a reminder on why Wynn Macau deserves a valuation premium. Also, IM says the timing of the announcement is interesting given that there have been rumors of poor credit decision-making by inexperienced staff at some of the other casinos.
CONSUMER PRICE INDEX FOR DECEMBER 2010 DSEC
Dec CPI rose 0.59% MoM and 3.92% YoY. Inflation rate for 2010 stood at 2.81%.