"I call the big one bitey"
Posted on 10/18/2006 7:09:48 AM PDT by rellimpank
Bond rating slips into 'junk' status because of low revenues, ridership
The Las Vegas Monorail passes by three towers under construction as it arrives at the MGM Grand station on Tuesday. Fitch Ratings, a New York-based credit rating firm, has dropped the monorail's bond rating to "CCC," calling the system's outlook "negative" amid weakened ridership and flat revenues.
Default is a looming danger for the Las Vegas Monorail after low fares failed to draw enough riders and a fare hike chased off too many passengers, according to a bleak financial analysis released Tuesday.
The assessment by Fitch Ratings, a New York-based credit rating firm, also dropped the monorail's bond rating further into "junk" status, possibly imperiling plans to extend the $650 million line to McCarran International Airport and around the Strip.
(Excerpt) Read more at reviewjournal.com ...
1. I enjoy using it when in Vegas.
2. It is expensive compared to other systems.
3. There would be more traffic on it if the casinos would actually point out entrances to it...of course, they're designed to keep you lost and spending money instead of exiting to visit a competitor.
"I call the big one bitey"
Monorail
Lyle Lanley: Well, sir, there's nothing on earth
Like a genuine,
Bona fide,
Electrified,
Six-car
Monorail!
What'd I say?
Ned Flanders: Monorail!
Lyle Lanley: What's it called?
Patty+Selma: Monorail!
Lyle Lanley: That's right! Monorail!
[crowd chants `Monorail' softly and rhythmically]
Miss Hoover: I hear those things are awfully loud...
Lyle Lanley: It glides as softly as a cloud.
Apu: Is there a chance the track could bend?
Lyle Lanley: Not on your life, my Hindu friend.
Barney: What about us brain-dead slobs?
Lyle Lanley: You'll be given cushy jobs.
Abe: Were you sent here by the devil?
Lyle Lanley: No, good sir, I'm on the level.
Wiggum: The ring came off my pudding can.
Lyle Lanley: Take my pen knife, my good man.
I swear it's Springfield's only choice...
Throw up your hands and raise your voice!
All: Monorail!
Lyle Lanley: What's it called?
All: Monorail!
Lyle Lanley: Once again...
All: Monorail!
Marge: But Main Street's still all cracked and broken...
Bart: Sorry, Mom, the mob has spoken!
All: Monorail!
Monorail!
Monorail!
[big finish]
Monorail!
Homer: Mono... D'oh!
The article fails to mention the rough time they had during start up when chunks of monorail were falling off onto the street.
Biggest problem is that it is currently an 'attraction', like the roller coaster at NYNY.
It doesn't go anywhere I need to go. If it went downtown, or to the airport it would make more sense.
--Harry Reid is working on a taxpayer bailout to fix that--
--Harry Reid is working on a taxpayer bailout to fix that--
That means he's already bought up all the right of ways and 'traded' them to his partner.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.