MGM Gets Half Of Needed Financing On There Terms. Wall Street Is Just Jealous.

I am sure if you are receiving any type of news e-mail alert you have been overwhelmed in the last few days with stories about MGM's financing comments. I understand that Boyd gamings Echoleon project has been put on the shelf but MGM's City Center is definitely going no where but up. I sifted through all the un-true speculative blog posts and articles today and was able to find to very well written articles that were actual reporting not just giving a one sided opinion. One of the articles was in the Review Journal and the other was in Forbes. Both article explained how all of the rumors about financing trouble was just hot air and things are moving along despite what Wall Street may make up. City Center is moving along just fine and will be completing thousands of new residential luxury High Rise Condos in late 2009 on schedule. If you are interested in owning your very own luxury condo at MGM's City Center you need to be prepared to experience a one of a kind lifestyle that can't be duplicated. There are unites available in each Residential High Rise buildings in City Center, Veer Towers-Mandarin Oriental-Vdara Condo/Hotel-The Harmon. There are two quotes from MGM Mirage Chairman and Chief Executive Officer Terry Lanni which sum it all up very plainly so everyone can understand, the first is from the report Forbes did about MGM and it goes like this "That's an advantage that we had - we weren't forced to accept terms that we just didn't think were necessarily ones that were the most reasonable and advantageous," Lanni said. "And by taking more time, and seeing how the economy now - at least here in Las Vegas - has not fallen off the cliff as some people have suggested, we'll be in far better position." & the second comes from the Review Journal "You can take a look at us and our competitors," Lanni said. "We're still making money, although not as much as we have in the past." Thank you Mr. Lanni for stepping up to clear the air.