Seemingly the job is done and City Center is open for business with only a a list of punch list items to be completed or otherwise resolved for final payment to be made by MGM Mirage to Perini Building Company. Both of those names carry weight and influence in Las Vegas and, in fact, across the country. But while these two titans of business ( one in gaming and the other in construction ) fight, the hard working sub-contractors who have completed their work are having to wait longer to get their payments as the battle rages between their clients. In this economy, that waiting could lead to loss of other business or complete business failure altogether.
City Center
Perini send a letter to the governor’s office in Carson City, Nevada to implore the state to get involved and aid in a resolution The letter consisted of nine pages & it asked Governor Jim Gibbons to launch an investigation into the situation to help avoid a detrimental impact on Perini and over 600 subcontractors and investors should the outstanding $ 500,000,000 bill not be paid. One can only imagine how far extended the subcontractors and other vendors are at this point with no payments to appease their creditors. There is a long line of pain, stress and concern in this entire imbroglio.
Nevada Governor Gibbons
Perini states in a letter to the governor that- “We believe it is critical to the survival of the minority owned and small businesses, as well as all of our employees and to all of Las Vegas to know the truth.” That last part about it effecting “all of Las Vegas” got this bloggers attention because now is not the time for this type of standoff to occur.
Many small businesses are out on a limb and facing business collapse or at least business restriction and loss of credit ratings to buy materials for other jobs. They need to be paid to let them get on with their business and lives.
Since March 29, 2010 when Perini filed a master lien against the City Center Project , Perini has been concerned with the gaming giant’s financial position deteriorating to a point where they cannot get paid to be able to pay their subcontractors.
It would seem that the subcontractors and vendors could be paid down. Then let the battle be over the profit Perini hopes to make from the project as it’s last payment be carried out in the courts. Otherwise, many of our friends and neighbors will be effected in another wave of business losses and negative impacts like home foreclosures. But, this blogger doubts that thought has occured in the minds of those involved in this fight.
