DIVERSITY IN THE CONSTRUCTION OF CITYCENTER

CityCenter is a cutting-edge destination, with an urban core that will blend world-class residential, hospitality, retail, gaming and entertainment elements into a synergistic hub of distinctive character.  The $8 billion CityCenter – the largest single privately funded development in U.S. history – will catapult Las Vegas to new status among the most sophisticated cities of the world.

CityCenter will be a turning point in the evolution of Las Vegas. 

Well yes, it is liable to be a turning point but for al the wrong reasons. City Center

is jointly financed by our good friends and optimists in Dubai and MGM Grand, now trading for less than two dollars a share. Dubai you will recall is fueled, so to speak, but oil revenue, still dropping.  Click on the hyper link and yes there is lots of vision. But that vision was restricted to, as they said about Michael Corleone in the Godfather, leisure activities. I do not see any real business core here. It is all glitz and glamour.  Today CNBC is in las vegas, a realtor was quoted as saying condos are down from $750 K to a mere $400K, such a deal, I suspect these are tomorrows apartment rentals. 

Actually Nevada has attracted a substantial amount of businesss mostly outside the city of Vegas.  Credit card companies like the lack of usury laws, many high tech firms fled California and its problems for Nevada. It has a wonderful airport without any snow and connections to everywhere in the US.  Seems to me they needed a business not leisure vision. Harry Reid put $2 billion in the stimulus plan for a 

maglev train from California to Nevada, talk about linking two disasters…

Timing in business is everything, you have to go out there, which by the way I am sure you can do on the cheap now!, to see just how outrageous all this is, the resorts, the half life size Eifel Tower, the empty condo towers, geez….