There’s the corporate way of cutting payroll costs in a downturn. And then there’s the Michael Gaughan way, which is, well, not cutting payroll. Gaughan is one of the rare executives in Las Vegas who hasn’t laid off rank and file employees during the downturn. As the sole owner of one casino, he has the luxury of acting alone, without running his decisions by a board of directors and without fear of reprisals from Wall Street.