LAS VEGAS | Boom Project Rundown! 2.0 - Page 331

mac78130 · #**6601** Posted **Apr 16, 2009, 9:23 PM**

Carl Icahn and Oaktree Capital pushing for MGM Mirage Bankruptcy.

http://www.reuters.com/article/innov...53F6VE20090416

Krases · #**6602** Posted **Apr 17, 2009, 12:37 AM**

Quote:

Originally Posted by mac78130

Carl Icahn and Oaktree Capital pushing for MGM Mirage Bankruptcy.

http://www.reuters.com/article/innov...53F6VE20090416

I really want to know there motivations. MGM has gone through a lot and now there getting pushed from the inside to go into bankruptcy? Seems like a bad idea.

mdiederi · #**6603** Posted **Apr 17, 2009, 1:55 AM**

Quote:

Originally Posted by Krases

I really want to know there motivations.

They're bond holders, so they would get paid sooner in bankruptcy.

Krases · #**6604** Posted **Apr 17, 2009, 3:00 AM**

Quote:

Originally Posted by mdiederi

They're bond holders, so they would get paid sooner in bankruptcy.

How quaint.

I hope MGM gives them the finger.

justdefended · #**6605** Posted **Apr 17, 2009, 3:21 AM**

Quote:

Originally Posted by Krases

How quaint.

I hope MGM gives them the finger.

I second that. MGM has much more to gain by finishing CityCenter, selling some assets to pay off this year's bond debt, and most importantly, keeping on good terms with lending partners they've been doing business with for 10+ years.

The banks didn't have to give MGM two waivers to make payments. To toss out those key partners, file for bankruptcy and disrupt the entire Vegas economy would be disastrous. Icahn and Oaktree look like typical greedy SOBs from the old economy.

Krases · #**6606** Posted **Apr 17, 2009, 3:59 AM**

http://online.wsj.com/article/SB123991207123426359.html

It goes like this. If MGM can make its bond payments, around 1.1 billion dollars, then MGM will keep going like it is and avoid bankruptcy. They must do this with 227 million in payments in July and 821 million in October. Right now they have around 800 million. They aim to sell two properties in the future to gain extra cash and if they are successful in that mission then they can easily pay of the bond payments. If they can't make payments then they are in trouble and could go into bankruptcy because of Icahn's ability to force it.

The problem is this: how can they build CC and pay bonds at the same time? Hopefully they can sell a property soon or force Dubai to start holding up its end again.

worldpool · #**6607** Posted **Apr 17, 2009, 6:50 PM**

mgm pays the money again see http://online.wsj.com/article/BT-CO-...17-710240.html

mac78130 · #**6608** Posted **Apr 17, 2009, 7:19 PM**

There's a crawler crane on the median near the pedestrian bridge columns. Maybe the bridge will start to be assembled soon?

mac78130 · #**6609** Posted **Apr 17, 2009, 7:27 PM**

flickr photo by Las Vegas Lover

Las Vegas Lover

mac78130 · #**6610** Posted **Apr 17, 2009, 9:28 PM**

MGM Mirage and Dubai reach deal, just waiting for lender's approval.

http://www.reuters.com/article/marke...0090417?rpc=44

More from LVRJ

http://www.lvrj.com/news/breaking_news/43183912.html

justdefended · #**6611** Posted **Apr 17, 2009, 9:39 PM**

Quote:

Originally Posted by mac78130

MGM Mirage and Dubai reach deal, just waiting for lender's approval.

http://www.reuters.com/article/marke...0090417?rpc=44

Good to hear they finally kissed and made up. I think if they are able to tap into the $1.8B early CityCenter will be safe. The building of the project and all the backstage squabling would make an awesome book.

CHAPINM1 · #**6612** Posted **Apr 18, 2009, 4:47 AM**

Who said that the Planet Hollywood Tower was 535 feet? I think it looks closer to 600 feet. Also, did anybody else know that there is a penthouse pool on the 46th floor?

BTW, awesome finds of Fontaintebleau as always! Not only does it dominate, but it's glass is spactacular! Awesome effect with Sky's reflection and the sun as well!

Kirre · #**6613** Posted **Apr 18, 2009, 12:54 PM**

That pool will only exist when/if the second tower is built. It will be on the top of the part that connects the two towers.

mac78130 · #**6614** Posted **Apr 18, 2009, 4:08 PM**

CityCenter/Cosmopolitan pedestrian bridge is getting started. Will open in December.

http://www.lasvegassun.com/news/2009...tion-restrict/

gmcclenon · #**6615** Posted **Apr 18, 2009, 4:10 PM**

Wow, great shots of FB, MAC. Thanks so much for posting them. From that back shot, it looks like they are starting to take down the second crane.

Krases · #**6616** Posted **Apr 18, 2009, 5:24 PM**

Quote:

Originally Posted by mac78130

CityCenter/Cosmopolitan pedestrian bridge is getting started. Will open in December.

http://www.lasvegassun.com/news/2009...tion-restrict/

I wonder how long that will take to build. Ten days maybe? Can't wait to see what it looks like.

sw5710 · #**6617** Posted **Apr 18, 2009, 10:52 PM**

Quote:

Originally Posted by CHAPINM1

Who said that the Planet Hollywood Tower was 535 feet? I think it looks closer to 600 feet. Also, did anybody else know that there is a penthouse pool on the 46th floor?

BTW, awesome finds of Fontaintebleau as always! Not only does it dominate, but it's glass is spactacular! Awesome effect with Sky's reflection and the sun as well!

As for Planet Hollywood tower if it is 600 feet tall the same as CC and Cosmo when looked at from the airport area the Cosmo and CC stand out above it from that area. Could the ground at PH be lower in elivation? Also I cant wait to see how FB is lit at night.

RandalR · #**6618** Posted **Apr 19, 2009, 12:08 AM**

Quote:

Originally Posted by CHAPINM1

BTW, awesome finds of Fontaintebleau as always! Not only does it dominate, but it's glass is spactacular!

It will be a lot nicer when they wash it for the first time - it's not especially evident in these pictures, but there is a great deal of winter dust all over it, now.

Krases · #**6619** Posted **Apr 19, 2009, 2:24 AM**

Quote:

Originally Posted by RandalR

It will be a lot nicer when they wash it for the first time - it's not especially evident in these pictures, but there is a great deal of winter dust all over it, now.

Plus there seem to be a few windows that need placing on the southward facing wall. I wonder if they really will have some sort of LED system in place.

I am beginning to wonder about city hall. The culinary union might force it onto the ballot for people to vote upon if there appeal to the supreme court is successful.

Why the hell are they so crazy about stopping the new city hall from being built?

mdiederi · #**6620** Posted **Apr 19, 2009, 4:50 AM**

Quote:

Originally Posted by Krases

I wonder how long that will take to build. Ten days maybe?

Three or four days.