Las Vegas - not looking good for fontainebleau

http://www.ratevegas.com/blog/2009/05/fontainebleau_g_1.html

The company developing the $2.9 billion Fontainebleau Resort in Las Vegas laid off about 40 people Monday, or about 20 to 25 percent of its staff...

...3,300 construction workers were employed at the site prior to the funding dispute erupting last month, but that number appears to have dwindled to the hundreds as contractors maintain just skeletal staffs at the site.

Local news were all over it. General consensus in town is that this project will end up being sold before opening to the public.

http://www.lvrj.com/news/breaking_news/46476427.html

Glenn Schaeffer, Fontainebleau Resorts’ co-founder...left Fontainebleau Resorts as chief executive officer, president and member of its board of managers as the company continues to explore its financing alternatives...

so about 250 construction workers and 120 office employees left in vegas.

ouch.

And it's official -- Fontainebleau Las Vegas LLC files Chapter 11 (http://www.financierworldwide.com/article.php?id=4253)

uh oh, has this happened on any other project yet?

interesting comment here >

http://www.ratevegas.com/blog/2009/06/lvsun_fontaineb_2.html

i'm thinking that the city center/aria/vdara will be doing that soon 2.

uh oh, has this happened on any other project yet?

interesting comment here >

http://www.ratevegas.com/blog/2009/06/lvsun_fontaineb_2.html

Didn't Cosmopolitan stop somewhere along the way while being tossed all over the place last year?

Now for something stopped this late in the game...I can't think of anything in recent memory.