So much for being recession proof. WSJ reports that the MGM Mirage, which had been expanding like gangbusters, is cutting 440 management employees. Gambling revenues have been down for two straight months, and Bear Stearns casino analyst Joseph Greff found that the average room rate on the Vegas Strip for the week of May 4-10 is $194, down 19 percent from a year earlier. Convention traffic is also down. Greff said in a research note that the discounting of room rates could continue through the summer. Even so, the occupancy rate is still around 85 percent, which would be off the charts in many markets.