Thursday, May 28, 2009

Before Nafter

Now you see it...



...now you don't.



My "before" picture, shot in June of '07 does not show that there was NOTHING on the other side of the Jockey Club at the time. There was a parking lot and then Harmon. Now, the poor JC is all but swallowed.

You've got to think that the owners of the JC probably did not negotiate quite as well as they might have with the people building the Cosmopolitan, the behemoth which now all but obliterates it.

Edit:
On the next Strip Ride, I will try and go back and redo the second shot from the location of the first so you can really see how complete the JC wrap is.

21 comments:

The_Scum said...

Furst to comment the Jockey Club certainly lost it's prime view.

A bunch of pissed off short dudes looking onto the street instead of the strip?

At least the midgets don't have to take the elevator to the club anymore...tourists are gassy after buffets and they get a whole different perspective at that elevation in an elevator.

Anonymous said...

Is the Cosmo still on track to open?

The_Scum said...

http://www.primelasvegascondos.com/cosmopolitan.htm

Condo sales website claiming will open early 2009 dated 5/28/2009...isn't early 2009 already past when this was written?


http://www.wedoitallvegas.com/Articles/articles/1351/1/Cosmopolitan-Resort-amp-Casino-Las-Vegas-to-open-in-2009/Page1.html

Undated article stating opening late 2009.

http://www.vegastodayandtomorrow.com/cosmopolitan.htm

Supposed to open early 2010 dated April 24, 2009.

http://www.cosmolv.com/

Cosmopolitan site itself. Has been drastically trimmed down from the past. Claims will open in 2010 and gives a phone number. No other info at all.

How do you define 'on track'?

Is this Optomist Anon™?

Lavi D. said...


Is the Cosmo still on track to open?

It looks like it's doing better than the Fountainbleu

Lavi D. said...


Links for above:


1

2

3

4

Lavi D. said...


To paraphrase Stink, "You gots to linkafy you'sef."

The_Scum said...

You are a true blogger pro Mr. Avegas.

Lavi D. said...


(Thanks for the links, Scum)

Anonymous said...

Is this Optomist Anon™?

yep, I am.

Obviously The Cosmo was able to secure the financing to proceed.

The_Scum said...

http://www.lasvegassun.com/news/2008/sep/04/buyout-keeps-cosmopolitan-play/

They didn't secure financing. It was repossessed by the bank . Apparently the bank figures they have too much invested to walk away at this point.

Big difference.

Best of luck Optomistic Anon™.

Lavi needs to teach me the linkafy thingy.

Anonymous said...

Eh, the bank owns it.. it is still getting completed, that is a bug difference.

Beats being lost to no funding at all.

It will sell.

Beats the fiasco that MGM went through.

The_Scum said...

"It will sell."

But at what price after how long and how much will the bank have lost?

http://lasvegassun.com/news/2009/apr/28/cosmopolitan-value-decline-leads-bank-take-653-mil/

Our friendly Germans at Deustche Bank have already written off $653 million.

You are correct, it appears it will probably finish. I'm sure the 1800 or so people who have already purchased (or at least the ones who don't walk away like most probably will) appreciate that at some point they may have an actual condo they purchased years after they were supposed to.

Ian Bruce Eichner probably lost far less than the bank and made a small fortune off of the failed project.

Optomistic Anon? All of this is easily searchable.

You are correct. It will probably finish.

Hardly the stuff of economic recovery or 'green shoots' though.

Thank you for bringing a unique perspective.

Anonymous said...

It may be easily searchable, but you seem to be getting some sort of major enjoyment out of doing what you're doing, finding all the stuff.

The_Scum said...

I have a vested interest in the economic future, especially that of Las Vegas.

I honestly wish I had a more optomistic opinion of the short and medium term future both for this country and this city.

At some point in time I will. This just isn't that point in time.

However, bad economic times can be taken advantage of upon occasion if recognized as such and prepared for.

People all make their own choices in life. Choosing to educate oneself financially is one of those choices.

Good evening and best wishes Optomistic Anon™.

Anonymous said...

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Anonymous said...

wow movin' on up!

Have Chinese spammers now

Optomistic Anon™ said...

The economy is improving.

http://money.cnn.com/2009/05/29/markets/markets_newyork/index.htm?postversion=2009052915


NEW YORK (CNNMoney.com) -- Stocks ended a choppy session higher Friday after a late-session rally pushed the major indexes to their biggest three-month run since 2007

The_Scum said...

Pardon me but since I'm short that cost me a few thousand dollars.

Rather than main stream media open your mind to a few other opinions regarding today's rather dramatic increase in the stock market during the last 25 minutes. Remember, GM is supposed to declare bankruptcy Monday...yeah, I know, it is already priced in.

Anyways try this link (not Stinky linkified):

http://zerohedge.blogspot.com/2009/05/goldman-sachs-principal-transactions_29.html

Now don't get me wrong, I was long until this week and enjoyed that huge run up. However, I am not so foolish as to think it was because everything is hunky dory.

I will 'close my shorts' Monday if the rally persists...take my 3 day settle time to evaluate and be ready to go again.

The S&P 500 has resistance around this level (which I knew when I went short) and at 880 on the downside and 950 on the upside.

The huge brokers using free government debt money (at least free to them) painted the end of month tape today.

If all this is wrong Monday will tell.

So be careful Optomistic Anon™. Protect capital.

Question main stream media and utilize resources to think on your own.

"ON A LONG ENOUGH TIMELINE, THE SURVIVAL RATE FOR EVERYONE DROPS TO ZERO"


I like that quote!

Lavi D. said...

Those Chinese characters looked so cool, I couldn't delete the first set.

Anonymous said...

https://addons.mozilla.org/en-US/firefox/addon/190

If you like being able to click things that other people don't linkify, and you're running Firefox, this does it automagically.

Troy in Las Vegas said...

Anybody here remember when Robbie jumped the Jocky Club on his motorscooter? http://www.youtube.com/watch?v=3fXLmxoAJjA


Every now and then when your life gets complicated and the weasels start closing in, the only cure is to load up on heinous chemicals and then drive like a bastard from Hollywood to Las Vegas ... with the music at top volume and at least a pint of ether.

-Hunter S. Thompson


Dedicated to the other side of Las Vegas, namely; the sprawling, mad, incoherent underpinnings of the world's favorite destination.

That, and the occasional ranting about nothing in particular.