Discovering the Capital of Second Chances

“Sin City”, “City of Lights”, “The Gambling Capital of the World”, “The Entertainment Capital of the World”, “The Marriage Capital of the World”, “The Silver City” and “Capital of Second Chances” are some of the most popular nicknames given to most populous city of the state of Nevada, Las Vegas. It is a globally renowned … Continue reading “Discovering the Capital of Second Chances”

“Sin City”, “City of Lights”, “The Gambling Capital of the World”, “The Entertainment Capital of the World”, “The Marriage Capital of the World”, “The Silver City” and “Capital of Second Chances” are some of the most popular nicknames given to most populous city of the state of Nevada, Las Vegas.

It is a globally renowned major resort city famous primarily for gambling, nightlife, shopping, fine dining and is the leading commercial, cultural and financial center for Southern Nevada. The charming city is famous for its all day long casinos, high spirits and limitless entertainment options.

Today, it is one of the top three leading destinations in the country for business, meetings and conventions. A global leader in the hospitality industry, it is amongst the top tourist destinations in the world today. The most prominent factors contributing to the city’s economy are gaming, conventions and above all tourism.

Top Rated Casinos

Las Vegas is the most affluent city in the world when it comes to casinos. There are a total of 103 casinos in the city and that is only including the legal ones. Some of the major ones include –

Bellagio – If you like poker and are ready to spend some serious money on gambling, then Bellagio is the place for you. It consists of two glassed-off high-limit areas – The most exclusive one Bobby’s Room that has the highest limit betting and Club Prive where you will be able to catch some popular faces from the tournaments on TV.

Caesars Palace Hotel & Casino – The 14,000 square foot poker room of Caesar’s Palace is amongst the largest in the city and is centrally located near to PURE nightclub and the casino’s huge sports book.

Wynn Las Vegas – The serene and upscale atmosphere helps to concentrate making it an ideal spot for those who want to play for longer hours.

Encore at Wynn Las Vegas – A relatively new casino as compared to the other established casinos, Encore has managed to set a strong foothold amongst the top casinos in the city and despite the opulence, it offers low buy-ins.

Venetian Resort Hotel Casino – Another promised spot for the poker lovers, it allows you to feel like a high roller without being one for real.

MGM Grand Hotel & Casino – The MGM’s poker room is a step down as compared to the other hot shots in the city, but is ideal for the lower stake players.

The Importance Of Correctly Managing Working Capital And Cash Flow

As your business grows, the more necessary your working capital becomes. Working capital is the money your business requires to function. If you don’t have enough, then your business is bound to fail. It’s a fact that many businesses that seem to be thriving are forced to shut down because they don’t have the ability to pay off their short term debts when they are due.

For this reason, it’s really important to employ effective working capital management strategies. It’s common for businesses to have the need to loan the money used to finance their growth. Based on the credit worthiness of your business, financial institutions will decide whether to grant you a loan or not. Credit worthiness is determined by two main factors: the existence and extent of your collateral and the liquidity of your business. These are reflected on your balance sheet. You can determine this by getting the difference between your assets and your liabilities.

This difference and your working capital ratios give creditors an idea of just how capable you are of paying your bills. Technically, it is your investment in current assets, including cash, inventory, accounts receivable, and marketable securities. Your current liabilities, on the other hand, are comprised of your accrued expenses, your accounts payable, and your near-term portion of loan due.

The difference between your current assets and your current liabilities is your net working capital. The term “current” means that they are to be liquidated within the period of one business cycle, which is typically a year. The management of this is extremely important for the growth and success of your business. This involves the decisions you make regarding short-term financing.

It’s all about managing the relationship between your short-term assets and short-term liabilities. It aims to ensure that you are able to continue operation with enough cash flow to meet your short-term debt and upcoming expenses. You can tell that your management is sound by your ability to convert your assets into cash that will go into paying off your bills. The ease with which you can do this is called “liquidity,” which is greatly impacted by the rate at which accounts receivable and inventory can be turned into outright cash.

Natural Capital and Economics – The Relationship Between Natural Resources and Economic Development

“Sustainable development” is development that meets the needs of the present without compromising the ability of future generations to meet their own needs.”

Whereas, Natural resource management refers to the management of natural resources such as land, water, soil, plants and animals, with a particular focus on how management affects the quality of life for both present and future generations. But in today’s world linkages between resource use and ecosystem services are not being developed and restoration factors have totally being ignored. Increasing Natural resource degradation is costly and needs to be managed in order to preserve the future generations.

The country’s rapid economic development had come at a huge price – fast-depleting resources and a massive degradation of the environment.

Various studies on the subject of “Economic Development” have been presented. And there are several examples in the literature that show the actual benefits derived from using the natural capital. Indeed getting benefits from the sources is appreciable but my question arises as we know that current economic development is essentially unsustainable.

So is it a rational decision to deplete the Natural Wealth today for the sake of development? And leaving the future generation in deprivation of the resources?

To answer this research question the following sub questions are formulated.

What policies or strategies are necessary to improve the Economic development without depleting the natural Resources?

What are the basic Compensation rules for Natural Wealth?

What are the different ground realities important to be considered in finding of the most feasible alternate options?

If we use up more natural capital to produce economic output today and increases the economic efficiency. Although economic growth rises, but then after this we have less resources available for tomorrow’s production.

Why it is Important?

According to my point of view, depletion of natural wealth is not a rational decision in case we have no alternate options available. If our expansion over the successive years exploits and erodes our natural capital without any regard to its ability to recover, we run the risk of degradation of local, regional or even global ecosystems and potential economic collapse.

This is a critical time to act. Thus the need of the time is to conserve the Natural capital and make the compensation rules in order to conserve it for future use. And then implement these rules for the smooth economic development. Thus, the daunting challenge of poor management of natural resources needs to be addressed not only to overcome the damages caused due to it, but also to achieve economic self-sufficiency and prosperity of the nation.