Comments on: MGM City Center Ready To Default – Thanks For The Memories

By: Matrix 5000

Matrix 5000 — Fri, 15 May 2009 17:37:53 +0000

We need to start getting in touch with each other .

There is no way they can expect us to close with no mortgage
options whatsoever and even those who may be lucky enough to
close to been plunged into huge negative equity from the start !

All City Center Owners who are in same positions or worse

please email me at basslineaudio@hotmail.com

By: Jess

Jess — Fri, 03 Apr 2009 20:25:20 +0000

I am an owner at City Center, too. Are there other owners who are considering a group action to get the ernest money back?

By: geldpress

geldpress — Mon, 23 Mar 2009 18:51:47 +0000

Good stories. Thanks for the links, Matrix. It’s not looking good for MGM or early purchasers of City Center condos.

By: Matrix 5000

Matrix 5000 — Mon, 23 Mar 2009 16:32:25 +0000

http://www.lasvegassun.com/news/2009/mar/23/lawsuit-clouds-future-citycenter/

Another breaking story about this .

By: Matrix 5000

Matrix 5000 — Mon, 23 Mar 2009 16:27:39 +0000

Look at this breaking new today !!

Dubai partner sues MGM Mirage over CityCenter !!!

http://customwire.ap.org/dynamic/stories/M/ML_DUBAI_VEGAS_LAWSUIT?SITE=NVLAS&SECTION=HOME&TEMPLATE=DEFAULT

I said exactly this in my previous post mgm are crazy to keep going
ahead with this project !! and dubai world want no part of it if they go ahead in this sort of economic conditions ! !

They need to stop work immediately ! look at Echelon just further down the strip they had sense and stopped work 6 months ago.

We can see what needs to happen god only knows why MGM can’t !!

REFUND THE DEPOSITS IN ESCROW & START AGAIN ONCE THE MARKET RECOVERS !

By: Matrix 5000

Matrix 5000 — Wed, 18 Mar 2009 18:06:06 +0000

To be honest its obvious don’t you think?
shares hit a $1.96 all time low.
City Center staff are given absolutely no information to owners
even news today the construction site being locked down &
reports of huge losses and massive fears into them having to sell off assets just to keep afloat. They need to stop work on City Center and refund the few owners who have deposits in escrow (with a option to re-invest) once the market recovers and concentrate on getting their casinos and finances back on track.

By: geldpress

geldpress — Wed, 18 Mar 2009 17:12:11 +0000

Matrix, please elaborate on your “bad to worse” comment. I’d love to hear the story.

By: Matrix 5000

Matrix 5000 — Tue, 17 Mar 2009 22:47:02 +0000

Still having no luck at all is there any other City Center owners out there??? Please get in touch things at MGM are going from bad to worse!

By: vegasknow

vegasknow — Tue, 24 Feb 2009 04:41:11 +0000

http://www.nytimes.com/2009/02/12/world/middleeast/12dubai.html?_r=2&scp=2&sq=dubai&st=cse here is the New York Times article on the fleeing out of Dubai! Enjoy

By: vegasknow

vegasknow — Tue, 24 Feb 2009 04:04:05 +0000

First of all, my friends, be scared. Dubai World which has funded the majority of this project is going south..Its real estate development side known as Nakheel, the makers of the artificial Palm Islands, is going bankrupt. Their contractors are suing them in Dubai because they are not getting paid. Dubai has crashed this months with property values down 50%. The New York Times just published an article last week showing thousands of new Mercedes Benz parked outside Dubai Internetional, with an Im sorry, I lost my job and cant pay note. The expats are going back home. Abu Dhabi, which has the oil and the sovereign wealth fund, WILL NOT bail Dubai out. They are screwed. If Dubai gets screwed..MGM City Center gets screwed. Do a keyword search at the Newyorktimes.com of dubai and you’ll find the article. Bu the way our stock market is hovering around 7100 today….. that’s what it was in 1997!