SMOKE AND MIRRORS

ONE NIGHT RECENTLY, I WAS WATCHING CHRIS ANGEL ON TV. HE IS AN ILLUSIONIST (MAGICIAN). THE STUNT THEY WERE WORKING ON WAS TO MAKE A HIGH PERFORMANCE SPORTS CAR DISAPPEAR. THE TRICK WAS TO DRIVE THE CAR FAST, HIT A SPOT IN THE PERFORMANCE AND SMOKE OBSCURED THE CAR. IT GAVE THE ILLUSION THAT IT DISAPPEARED. THE REALITY IS WITH OUT THE SMOKE THE OBSERVERS COULD SEE WHAT HAPPENED TO THE CAR. ILLUSIONIST HAVE USED SMOKE AND MIRRORS AND OTHER TRICKS TO HIDE WHAT THEY ARE REALLY DOING.

I THINK, THE MOHEGAN TRIBAL GOVERNMENT HAS IT'S OWN SMOKE AND MIRRORS. TAKE FOR EXAMPLE. THE WUSKUSO, OCTOBER 22, 2008 ISSUE. ON PAGE 2, THE ARTICLE IS TITLED "SLOT WIN DOWN IN SEPTEMBER, FOXWOODS EVEN LOWER." THE FACT IS THE MOHEGAN SUN REPORTED A 13.3% DROP IN SLOT WIN IN SEPTEMBER COMPARED TO THE YEAR BEFORE. IT THEN REPORTED THAT FOXWOODS WAS DOWN IN SLOT WIN 15.9% IN SEPTEMBER COMPARED TO THE YEAR BEFORE.

HERE IS THE SMOKE AND MIRRORS. THE MOHEGAN SUN BEING DOWN 13.3% IS REALLY BAD. THE SMOKE IS IT WAS COMPARED TO FOXWOODS. WHY COMPARE THE MOHEGAN SUN TO FOXWOODS RESORT CASINO? THE ANSWERS IS IT MAKES IT SEEM TO BE OKAY TO BE DOWN 13.3%. THE REALITY IS BUSINESS IS TERRIBLE. IN
MY OPINION WE ARE IN BAD SHAPE. IT DOES NOT FIX THAT WE LOST $10.5 MILLION ($10,500,000.00).

ANOTHER EXAMPLE IS AT THE QUARTERLY MEETING, ALL KINDS OF TALK WAS SPENT ON HOW BAD THE ECONOMY IS. THE SMOKE IS NO ONE TALKED ABOUT WHAT THE TRIBAL GOVERNMENT (MTGA) WAS DOING TO TURN IN AROUND. SO I GUESS TRIBAL MEMBERS ARE SUPPOSED TO JUST SAY, OH WELL. WHERE WAS THE PLAN TO TURN THE SITUATION AROUND? WHEN TIMES WERE BETTER, WHY DIDN'T THE TRIBAL COUNCIL PAY DOWN IT'S DEBT?

THE MTGA CONTINUALLY COMPARES WHAT WE DO WITH OTHER GAMBING ENTITIES, THAT IS SMOKE, IT REALLY DOES NOT MATTER WHAT THEY ARE DOING IT ONLY MATTERS WHAT WE ARE DOING.

THE ECONOMY MAY NOT COME BACK TO THE WAY IT WAS EVER AGAIN. THE ECONOMY WAS BASED ON BAD BUSINESS PRACTICES BY LENDING INSTITUTIONS, ETC. THE MIRROR WAS IN TWELVE MONTHS WE WILL RECONSIDER BUILDING THE EARTH TOWER (PROJECT HORIZON HOTEL). THE REALITY IS IF THE ECONOMY DOES NOT COME BACK WE WILL NEVER BUILD IT. PEOPLE MAY NEVER AGAIN HAVE THE INCOME TO GAMBLE LIKE THEY DID BEFORE.

ANOTHER SMOKE AND MIRROR DEAL, IS TELLING TRIBAL MEMBERS ABOUT INCREASED COMPETITION AS A WAY TO JUSTIFY THE MOHEGAN SUN EARNINGS BEING DOWN. WHAT THESE OTHER GAMBLING FACILITIES ARE DOING DOES EFFECT THE MOHEGAN SUN, HOWEVER EVERYONE KNEW THEY WERE BEING BUILT OR WERE BEING PLANNED, SO WHY NOW THEY ARE A PROBLEM? IN MY OPINION, THE MTGA NEVER PREPARED FOR WHAT HAS OCCURRED. THERE ARE LOTS OF OTHER EXAMPLES. THINK ABOUT IT.

THEN WE HAVE THE BONDS THAT ARE DUE IN 2009. THE TRIBE HAS BEEN TOLD WE HAVE TO PAY $330 MILLION ($330,000,000.00). I BELIEVE THE ORIGINAL AMOUNT WAS $300 MILLION ($300,000,000.00) PLUS INTEREST. THE SMOKE WAS WE HAVE DIFFERENT OPTIONS TO PAY THE AMOUNT. WHAT OPTIONS? WE (THE MOHEGAN TRIBAL GOVERNMENT) WILL EITHER HAVE TO DO A NEW BOND ISSUE OR LOAN FOR $330 MILLION ($330,000,000.00) PLUS INTEREST. WHAT OPTIONS? INTEREST ON TOP OF INTEREST. THE SMOKE IS TO HIDE THE FACT THAT THE TRIBAL COUNCIL DID NOT FIGURE IN ADVANCE HOW TO PAY THIS OFF.

MORE SMOKE IS WHEN WE ARE TOLD THAT TRIBAL MEMBERS CAN NOT TALK ABOUT FINANCES OF THE GOVERNMENT COMMUNITY CENTER BUILDING BECAUSE IT COULD EFFECT OUR BOND HOLDERS. IN MY OPINION,THIS IS NOT TRUE ANYMORE BECAUSE AT THIS POINT WE ARE PROBABLY MAXED OUT AT WHAT THE MOHEGAN TRIBE CAN BORROW. THE GOVERNMENT COMMUNITY CENTER IS GOING TO BE A TERRIFIC BUILDING BUT THE SMOKE IS HOW IS THE MOHEGAN TRIBE GOING TO PAY FOR IT? ARE WE GOING TO HAVE ANOTHER DEAL LIKE THE $330 MILLION THAT IS DUE IN 2009? WHAT DO YOU THINK?

THE MOHEGAN TRIBAL COUNCIL IN MY OPINION, DEFINITELY HAS ITS OWN SMOKE AND MIRRORS. .