ADVANCED DEGREES
Why Terry Lanni�s missing MBA is a tempest in a teacup

Sure, Terry Lanni�s decision to retire as Chairman of the Board & Chief Executive Officer of MGM MIRAGE comes at an interesting time in the history of the Las Vegas hotel-casino industry. Profits are down, credit for capital projects is hard to secure, and even more job cuts are being planned as the stock market continues to roller coaster. It�s a daunting time for a major company to be switching leadership, which is why everyone�s eyebrows raised when Lanni chose this moment to hand off the MGM MIRAGE leadership baton. No one panicked, of course, because Lanni has for a long time made it clear he was ready to retire. Besides, his successor is a surefire bet for success.

But, now, people are left wondering if there might be another reason for Lanni to step down and let his groomed replacement, Jim Murren, take command � the reason being that apparently the University of Southern California has no record of an honorary Masters in Business Administration degree that Lanni, on his resum�, claimed to have received years ago. (Though the university locates his 1965 Bachelor of Science degree in Business.) The discrepancy was first broken by the Wall Street Journal and, ever since, the lesser Las Vegas scribes have been busy trying to smear Lanni�s reputation.

So why has there been no discussion about background checks for Lanni�s resum� by the company when he was hired, by the Gaming Control Board in the years they�ve interacted with Lanni, or the Las Vegas Review-Journal, a newspaper which has been ostensibly covering the MGM MIRAGE top dog for more than two decades? 

The answer is simple: Who really cares? 

If it ever had been important that Lanni inflated his educational credentials, the fabrication would�ve been revealed a long time ago. Still, don�t expect to read any stories on Terry and his Debbie�s incredible philanthropy and their massive charitable contributions to the community. Being a generous person doesn�t require an MBA, but that doesn�t stop the media from going negative at every opportunity.

A respected leader, Lanni headed the largest private employer in the state of Nevada and � despite our very strong difference of opinion with him on increasing the business payroll tax � he wasn�t afraid to enter debates on controversial subjects (taxes, roads, water issues). He should be commended for acting like a leader at all times. And even if you�re on the left side of the political spectrum, you should look up to Lanni. After all, he initiated a diversity campaign that earned recognition from gay-rights organizations and other identity groups.

Besides, what does an advanced college degree even mean? While we here at Liberty Watch think there�s nothing wrong with expanding your educational horizons at every opportunity, we also know that there are other factors outside of a diploma that lead to success in the business arena. The perception remains that, if you get a degree, jobs will be waiting for you, and that�s never been true. You have to go to the ball. Always. And you need to demonstrate qualities outside of the classroom, qualities that Lanni always demonstrated � namely, social capital. We could all stand to improve our social-interaction skills by learning things outside of a college classroom. Moreover, self-confidence is something we can all work on without spending $100,000 in student loans on an MBA.

That�s the real kicker for many muckraking journos, though. The idea that someone could inflate their resume and still be a wildly successful, confident and socially responsible businessman who helped create tens of thousands of jobs in Southern Nevada. The nerve of that guy Lanni, they fume.

Truth is we could use a hundred more Terry Lannis in Clark County. Right now, we seem to have a lot of people with genuine advanced degrees and poor business sense.