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Note To Self: Don't Buy Stock in Vegas Monorail Company

By Chuckmonster on Wednesday, 11th July 2007 6:26am
  » filed under Note To Self...  comments: 2


The Review-Journal is reporting that the Las Vegas Monorail is going full steam ahead towards financial default on its loans, despite a slight increase in ridership recently.

Fitch Ratings - a New York credit rating firm has lowered the Monorails credit rating from "CC" to "CCC" which is an acronym for "Craptastically Crashing Credit". Ok... I made that up. Fitch goes on to say that the Monorail's cash reserves ($70 million bucks) will be burned up by 2010, essentially leaving the company bankrupt.

Its unfortunate that the slow motion death of the monorail is going to take so long... at some point when the parent company is worthless and Harrah's owns every property on the east side of the Strip they will buy the damn thing for $30 million bucks and make it free.

Another solution: change the fare to $1 each way and/or $7 for a two day pass.



Comments & Discussion:

The only way to make the Monod'oh viable is to make the fare competitive with The Deuce. Why should someone spend $5 to ride on way on the Monorail when for that same $5, they can buy a 24 hour pass on The Deuce. If the company stays around long enough for the extension to McCarran to be built, they really could have some success, especially if the fare is cheaper than the one-way fare on a shuttle bus.

they need to link it to Ogdensburg & Shelbyville - it put those cities on the map!

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