The Growing Popularity of TramTrains Are Again In The News
The February Tramways & Urban Transit has an excellent article on TramTrains and their growing popularity with transit planners in Europe and North America. The article ” Tram-trains: are they worth it? “, is interesting and well worth reading as very important questions are posed. The article was written mainly for the UK market where TramTrain is seen by transit bureaucrats as a “cheap way to replace clapped out DMU’s” on local services andAi??Ai??more thought must be put into UK TramTrain proposals.
The lessons for the UK are also lessons for us on the ‘other side of the pond’.
Most interesting and what North American TramTrain proponents have know all along, is that today’s TramTrain can trace its ancestry back to the North American interurban!
The lesson for Rail For The Valley is, for the proposed reinstatement of valley interurban operation toAi??Ai??be successful, interurban or TramTrain must service urban areas like Vancouver and must must do away with inconvenient and time consuming transfers, like the transfer proposed by many ‘rail’ groups for the interurban service to terminated at Scott Road Station and passenger transfer to SkyTrain.
Eliminating the transfer to SkyTrain and providing a direct service to downtown Vancouver are key in making the Valley interurban or TramTrain a success.
And Then There Were Six – Metrolinx Says AdiA?A?s to SkyTrain
Toronto’sAi??Ai??Metrolinx is saying adiA?A?s to the SkyTrain (ICTS) Scarborough Line and will convert the route to LRT by 2015. In November 2009 Metrolinx, Toronto’s regional transit planning authority has decided to convert the 10 km. Scarborough ICTS (SkyTrain) light metro to LRT by 2015.
The Scarborough ICTS/SkyTrain line is suffering the same fate as so many other proprietary transit systems have done before; abandonment. To new to be an operating museum like the German Schwebebahn monorail, and not compatible with other transit modes like metro or LRT, has sealed the fate of the UTDC’s ICTS/ALRT light metro system.
Money too tight for barriers to be installed at SkyTrain Stations – From Radio News 1130
There seems to be plenty of money for fare-gates to be retrofitted to all SkyTrain Stations, which will do little if anything to make the metro safer or deter fare evasion, yet there is no money station gates (like we have with SeaBus) which are proven to prevent egress onto metro track. It seems what is mandated in other countries is ignored here. Just as reminder, in the EEC automatic metros, by law, must have platform gates.
I guess Mr. Dobel’s fare-gates are more important than true public safety.
Money too tight for barriers to be installed at SkyTrain Stations
Man fell on the tracks Sunday
Jim Goddard Jan 25, 2010
VANCOUVER (NEWS1130) – Don’t expect to see barriers set up at SkyTrain Station platforms to keep people from falling or jumping on the tracks.Ai??Ai?? Sunday, a man at the Metrotown Station accidentally stumbled over the edge and fell on the rails below, suffering head injuries.Ai??Ai?? His condition isn’t known.
TransLink’s Drew Snider says they can’t install platform barriers because two different kinds of SkyTrain cars are used and their doors would not match up with the barrier gates.Ai??Ai?? “Also, it’s just a matter of having retrofit it, the amount of cost versus the frequency that this happens.Ai??Ai?? It’s extremely rare anything like this happens.”
Snider adds TransLink’s tight budget doesn’t leave room for costly barriers.Ai??Ai?? More than 30 cities in Europe and Asia have what are called ‘platform screens,’ including Tokyo, London, Beijing, Paris and Barcelona.
Welcome to the Olympic Line – Modern Light Rail In Vancouver BC
Welcome to Vancouver’s Olympic Line. Enjoy!
[youtube=http://www.youtube.com/watch?v=Y-OtUpUNeo8]
Stephen Rees giving a tour of the Flexity car.
[youtube=http://www.youtube.com/watch?v=otlKxoDDL4A]
Bored Subway Tunnels – Are They Problem Free? Will a Broadway SkyTrain subway be Another Cambie St. Fiasco?
The SkyTrain Lobby andAi??Ai??many Vancouver politicians are claiming that a Broadway subway tunnel will be bored in stead of cut-and-cover, eliminating the many problems caused to those living or have businesses adjacent to the subway route, thus eliminatingAi??Ai??protracted litigation forAi??Ai??compensation. The problem of course is aAi??Ai??bored tunneling causes it own set of problems and may pose a serious threat to many older and some not so old, building’s foundations. Some of the problems expected to be encountered by businesses and residents along the proposed Broadway/UBC subway will beAi??Ai??Ai??Ai??cracked floors and foundations, sinkholes large enoughAi??Ai??to swallowed driveways, pollution, homes flooded with sewage, etc.
Despite the myth that a bored subway tunnel under Broadway will be problem free unlike a cut-and-cover subway, they are not and have a host of their own unique and expensive problems. Knowing how niggardly TransLink and the provincial government are paying compensationAi??Ai??to those affected by subway construction on Cambie Street, a bored Broadway subway tunnel may leave thousands of property owners with very expensive repair bills and years of expensive litigation.
Collapsed subway tunnel in China
From the Seattle Times –
Bridgewater tunnel likely causing homes’ troubles
By Keith Ervin
Seattle Times
Tom and Jan Glithero were pointing out the recently discovered cracks in their reinforced-concrete patio the other day when Tom called out, “Oh, guess what? Here’s another one! So there’s four cracks now A?ai??i??ai??? great.”
“The more we look, the more we find,” Jan added.
The Bothell couple first found long, wide cracks in their garage and driveway the middle of last year.
But it wasn’t until November, after they saw hairline cracks between the bricks of their living-room fireplace, that it occurred to them that a tunnel excavated beneath their backyard for the Brightwater sewer-plant pipeline might be causing the ground to settle.
Since then, engineers and insurance adjusters have made repeat visits to the Glitheros’ split-level house and installed instruments to determine whether the house is continuing to settle.
“We’re working with the assumption it is attributable to Brightwater construction,” said King County Wastewater Treatment Director Christie True.
The Glitheros are among dozens of residents of King and Snohomish counties who have been affected by the $1.8 billion sewer project that began in 2006 and won’t be completed until 2012, more than a year behind schedule.
The 13-mile tunnel will carry treated wastewater from the Brightwater plant north of Woodinville to Puget Sound off Point Wells in Shoreline. King County is responding to complaints even as Sound Transit prepares to dig twin light-rail tunnels between downtown Seattle and the University of Washington and the state Department of Transportation designs a large-diameter tunnel to replace the Alaskan Way Viaduct.
Neighbors of Brightwater have complained of construction noises late into the night, cracked floors and foundations, a sinkhole that swallowed a driveway, pollution of a creek, homes flooded with sewage and wells gone dry.
One worker died in a construction accident, and two of four tunnel-boring machines have been idled since last June while undergoing repairs more than 300 feet underground. The broken-down machines have slowed the project and will drive up costs by a yet-unknown amount.
The state Department of Labor and Industries fined tunnel contractor Vinci/Parsons RCI/Frontier-Kemper $6,600 for workplace-safety violations after worker David Keith was killed by a steel beam that fell from a crane at the North Kenmore tunnel portal in November 2006. Keith’s family is also suing contractors and the county.
Most of the complaints have been filed by people who live along the tunnel route. The tunnel runs under Northeast 195th Street and other roads, and directly beneath 147 private properties, officials said.
To date, King County and its insurance carrier have paid more than $400,000 in construction-related damage to homeowners, businesses and the county itself.
“I would say for a project of this size and the amount of liability insurance we carry, the loss is very small,” True said. The costliest project in county history has mostly gone well, officials say. Construction of the treatment plant itself is on schedule, the eastern end of the tunnel is complete, the west portion is almost done, and a mile-long outfall pipe was installed faster and cheaper than expected.
But for some neighbors of the project, it’s been anything from a nuisance to a nightmare. Several said they were initially impressed by the quick response of the county and its contractors to their complaints, but then grew frustrated by lengthy delays in resolving problems.
Here are some of the things neighbors have endured:
A?ai??i??A? The well that provides water to Jorge and Shirley Landa’s Bothell house and dog kennels stopped working when the pump burned out. A replacement pump also burned out before they realized sand was clogging the filter. Then the water level dropped and the well went dry.
The Landas also noticed that Horse Creek, which runs through their property, was behaving strangely. “You could sit in the car and you could hear the creek bubbling up like Old Faithful,” Shirley said.
The state Department of Ecology concluded that the creek was repeatedly muddied and its water chemistry changed over a three-month period by compressed air that worked its way from a tunnel-boring machine through 160 feet of soil to Horse Creek during scheduled maintenance.
The Landas’ well is back in operation but exhibiting new problems they’re trying to understand.
A?ai??i??A? Marlene and Eldon Berg’s previously quiet Kenmore neighborhood became a noisy construction site, with truck engines revving, backup beepers sounding and metal banging on metal when contractors began digging a tunnel portal. Windows in their home rattled and floors shook when a boring machine chewed its way out of the portal. After the Bergs’ well ran dry, the county hooked them up to the city water system.
A?ai??i??A? Ray Ames was asleep when his wife, Mary, woke him up and showed him a brownish liquid flooding the kitchen and pouring out of the toilet. Raw sewage had backed up into the house because of pump problems on a Kenmore sewer line that was being redirected to the Brightwater plant.
Two years later the county paid more than $70,000 for repairs and legal fees.
A?ai??i??A? Pauline Chihara stepped out of her Kenmore home early one morning and discovered her driveway had fallen into a 30-foot-wide, 15-foot-deep sinkhole. County contractors quickly filled the hole and did a temporary repaving job. The ground had caved in because a tunneling machine removed too much soil 150 feet beneath the house.
That was in March 2009. As for a permanent fix to the driveway and sidewalk, Chihara said, “They said they were waiting for warm weather. Warm weather came and passed. … I wish they would just hurry up and do it. I don’t know what they’re waiting for.”
County spokeswoman Annie Kolb-Nelson said Chihara shouldn’t have had to wait so long for repairs and said she would try to speed up the process.
“I appreciate people’s patience while we get this project done,” wastewater chief True said. “It’s essential that we get it done. We recognize that some people will be inconvenienced. Any time there is a concern or complaint we want to get out there and respond as quickly as we can.”
After the Glitheros began finding cracks around their house, the county sent out an engineer who found a crack in the foundation. More recently, as Tom relaxed in the living room, he looked up and exclaimed “Holy mackerel!” when he saw a new crack in the vaulted ceiling.
Now push pins mark five cracks in the ceiling so the Glitheros can tell if they are lengthening.
“There’s a connection here and it’s not healthy,” Tom said of the problems. His biggest worry is what the settling will mean when he and Jan try to sell the house they lived in for 30 years: “I wouldn’t buy the house.”
http://seattletimes.nwsource.com/html/localnews/2010858216_brightwater22m.html
Now You See It, Now You Don’t – The Olympic Line Opens Today
If one wants to ride a modern tram, then one should get to the Olympic Line as quick as possible and take a ride, before the Flexity cars are returned to Brussels after the 2010 Olympics. Zweisystem would be more excited if this was a start of a program of LRT/streetcar construction, but it’s not. In fact, there is little evidence that the City of Vancouver’s Engineering and Planning departments really understand the importance of LRT/streetcar in the 21st Century and how to plan for a successful downtown streetcar line. The Olympic line is built to such a standard that Roberts Bank Coal trains could use the line. We must ensure to get the ‘light’ back in ‘Light‘ Rail.
The Bombardier built Flexity family of trams are wonderfully built and make the SkyTrain Mk.1 car seem like 49′ Ford in comparison. The modular design means that several variants of the Flexity cars can be delivered, to suit the needs of the customer without incremental costs in the price. Cars can be made to lengths as long as 55 metres; have saloon sections (no doors) for longer journeys, and even a ‘Bistro’ section if need be. There is also a TramTrain variant and I would wager Bombardier would be willing to lend a few for a Vancouver to Chilliwack interurban service, if asked.
There are many motor packages available to the Flexity trams, with 100 kph operation possible.
So ride the Olympic Line tram and salivate at 21st century public transportation, that our European cousins across the pond take for granted every day.
From CKWX News 1130 Radio:
Olympic Line streetcars set to open
Two state of the art trains are on loan from Belgium
Britt Carlsen Jan 21, 2010
VANCOUVER (NEWS1130) – Streetcar service is making a resurgence in Vancouver and the city hopes it is something that will continue. The Olympic Line project is a partnership between the city of Vancouver and Bombardier Transportation, who brought in the two Flexity cars from Belgium. From Thursday January 21st starting at 9:30 a.m., the free service will run between Granville Island, 2nd Avenue and Cambie daily from 6:30 a.m. to 12:30 a.m. through March 21st.
Bernie Edie, one of 23 locomotive engineers who will be operating the trains, had much to say on the history of streetcars in Vancouver. Streetcars arrived in the city in June of 1980, “they were green then and they didn’t even know it. The streetcars served Vancouver very well for 65 years.”
Edie adds the relationship between the Olympic Line streetcars and those of Vancouver’s past are closely linked, the last train ran in April of 1955, “that was on Hastings street. The reason they left the streetcars on that line for as long as they did is because of the Commonwealth Empire Games, they thought it would add more capacity. Well guess what? Here we are 55 years later with a car that has more capacity.”
As for the new trains, Edie is impressed. “They’re not only quiet but they have what you call regenerative braking, so when you are in a breaking mode power goes back up the lines, its total acclimatized. It’s a very high tech machine, Bombardier did a marvelous job.”
The City of Vancouver has a vision for streetcars in the future and feels they are a clean and sustainable option for public transit in our city. The Olympic Line project has already won the Sustainability Star Award, which recognizes a service or initiative that presents a solution to a local or global sustainability challenge.
http://www.news1130.com/news/local/article/19138–olympic-line-streetcars-set-to-open
Battle looming between Vancouver and other regions over priority of rapid transit – From News 1130 Radio
Ai??
As expected, the Broadway UBC rapid transit project has gained prominence in the past few weeks and the SkyTrain lobby has taken to the blogosphere to spread “SkyTrain Speak.” SkyTrain Speak, is the myth and propaganda created by the SkyTrain lobby to further the causeAi??Ai?? promoting further construction of the obsolete proprietary light metro.
The Broadway UBC rapid transit or subway project, isAi??Ai??being promotedAi??Ai??by Vancouver politico’s, who realize that the City of Surrey’s population will soon surpass that of Vancouver and that Vancouver’s monopoly of scarce transit funds will soon go South of the Fraser. Vancouver’s politicians suffer a rather malignant form of ‘civic penis envy’, where they firmlyAi??Ai??believe that to makeAi??Ai??Vancouver a ‘world class’ city,Ai??Ai??they mustAi??Ai??have subways, because subways willAi??Ai??Vancouver ‘world class’.Ai??Ai??Political prestigeAi??Ai??was the main reason for building the $2.5+ billion RAV/Canada Line subway in Vancouver.
One also must wonder if Bombardier has been given a (secret?) promise by TransLink and/or the province to have one more kick at the can, so to speak, by extending the the SkyTrainAi??Ai??Millennium Line West to UBC or the Evergreen Line North to Port Coquitlam. The weak ridership figures for the Evergreen Line means that a SkyTrain subway would have a far better chance to showcase SkyTrain for overseas sales.
Zweisystem predicts if the Broadway transit project doesn’t use SkyTrain, Bombardier will announce the retirement of the SkyTrain light metro system and will only produce vehicles for existing systems.
Surrey politicians and taxpayers have also woken up to the fact that they will again be subsidizing Vancouver’s expensive rapid transit dreams and may rebel, forcing Victoria to create a South Fraser Transit Authority. This could have ominous consequences for taxpayers living in the TransLink or SkyTrain region, where their taxpayers must then fund the full cost ofAi??Ai??Victoria’s and TransLink’s grand metro schemes. The real cost of metro construction will come home to roost with a big financialAi??Ai??bang!
Has TransLink already made the decision to build with SkyTrain?
By using the term ‘rapid transit’ TransLink has already made the choice toAi??Ai??build metro, for I have not seen any definition of ‘rapid transit’ that include LRT, streetcar, or trams. By extending the Millennium Line, means SkyTrain will be used and there will be no need of any pesky P-3 or systems tender, that caused much rancor with the public in the past.
Finally, TransLink is broke and the regions transit deficit is great, but with todays precarious economy, there will be little or no money for expensive metros, unless Premier Campbell again promises to completely fund Vancouver’s UBC SkyTrain subway and call it the Legacy Line.
Sad to say, the gift of SkyTrain has not reduced auto congestion, but it has certainly driven up property taxes, some legacy!
The cost of Broadway/UBC subway, about $3 billion to $4 billion.
The cost of a deluxe Vancouver to Chilliwack TramTrain, about $1 billion.
The cost of a BCIT to UBC to Stanley Park LRT, aboutAi??Ai??$1 billion.
Cost of a Surrey LRT/streetcar, King George Hwy./Scott Road/Guilford Loop, about $1 billion.
Cost of a Langley 200th St. LRT, about $500 million.
Cost of a Abbotsford LRT, about $500 million.
The firing shots of TransLink’s UBC ‘rapid transit’ line may start a battle that will rip TransLink and the regions politics asunder, with many unintended consequences.
Battle looming between Vancouver and other regions over priority of rapid transit
Vancouver wants line along Broadway to UBC
Jill DrewsAi??Ai?? Jan 19, 2010
VANCOUVER (NEWS1130) – The City of Vancouver is making plans to ensure a rapid transit line along Broadway to UBC is given top priority–ahead of other regional transit improvements.Ai??Ai?? But not everyone thinks Vancouver’s plan should be at the top of the transit list.
Vancouver Councillor Geoff Meggs says the density surrounding the Broadway corridor would more than pay for itself.Ai??Ai?? “There already are more people riding on buses, jammed on buses, hanging on straps on buses, watching buses drive by them, than we need to justify the line.”
But Ray Hudson with the Surrey Board of Trade says the Evergreen Line and more service south of the Fraser used to be a priority and should still be a priority.Ai??Ai?? “Soon, we will rival and even pass the population of Vancouver, and yet we are certainly the very poor ‘country cousins’ with respect to these kinds of services.”
Hudson says some business owners he’s heard from are wondering if separating from the Metro Vancouver regional district might be the way to go to finally see some transit improvements.
For further information on LRT on Broadway:
The end for the Brussels PCCs – From the LRTA
What makes this story interesting is that some of Brussels PCC cars are still operational after 58 years of revenue service.
I will wager that very few, if any of these cars will be scrapped as there will be plenty of buyers from museums, smaller tram companies, and private, who will purchase these cars and further their operational careers.
How many buses last in revenue operation for 58 years?
The end for the Brussels PCCs :
It has been announced that the last day of operation of the 7000-series single PCC cars in Brussels will be Friday 12 February 2010. All the remaining serviceable cars will be in all-day service from Woluwe depot on routes 39 and 44. During the evening the service will be operated entirely by PCCs until the last departure (actually 01.06 on Saturday morning) from Ban Eik. As the PCCs come out of service they will be driven to Haren depot for storage and disposal.
It is possible that these depot runs will be open to the public, in which case the last arrival at Haren is expected to be at about 02.30 on the Saturday morning.
The first PCC entered service in Brussels in November 1951, and some of the 1952 delivery have survived to the end, 58 years of service.
19 January 2010
A Brussels PCC next to a Bombardier Flexity tram (now used in Vancouver BC)
Will legal woes derail TransLink?
The merchants along Cambie Street were treated extremely badly by everyone involved with the RAV/Canada metro line subway construction project. Now, with Ms. Heyes winning a $600,000.00 lawsuit against TransLink, the legalAi??Ai??floodgates have been opened for other merchants negatively affected by the RAV/Canada Line cut and cover subway construction to sue TransLink. The sad part of the whole affair is that no one gave a damn about their plight,Ai??Ai??but withAi??Ai??a valiant Ms. Heyes taking on the RAV/TransLink Goliath and winning, has changed the game, so to speak.
Now Ms. Heyes award is under appeal, which is a crap-shoot for TransLink because the appeal could go against TransLink and the courts increasing the award! Here lies the conundrum for the cash strapped TransLink; either pay the award to Ms. Heyes and then fight every other lawsuit brought against TransLink re: subway construction or shake the dice and hope for “snake eyes“?
TransLink is broke and the impending deluge of lawsuits may just thrust the wooden stake of bankruptcy further into the TransLink corpse. From Zweisystem’s perspective, I hope it does! It is time to start over, from scratch.
From BCTVBC……….
The fight is coming just months after a court victory by small business owner Susan Heyes, who won $600000 in damages in a similar suit. …
More merchants suing Canada Line construction
Updated: Sat Jan. 16 2010 18:38:01
ctvbc.ca
The list of Cambie Street merchants who are filing suit after being left in the lurch by the Canada Line construction is growing.
Roughly 40 businesses along the Canada Line are looking for millions in compensation after losing customers who couldn’t brave the construction zone to get to their stores.
“It was very depressing for a busy store where people are coming in and out all the time to where almost nobody was walking in the store at all,” said pharmacist Marvin Nider, one of the plaintiffs.
Nider says his store, Mark’s Plaza Pharmacy, lost about a million dollars over the course of the construction.
The suit, filed Friday, is on top of the class action lawsuit that has already been filed, involving 250 businesses in the Cambie Village alone.
In both suits the plaintiffs claim they were devastated by the cut and cover construction method. They argue that if the Canada Line had been built with a tunnel boring machine as originally planned, the businesses would not have lost as much.
Several plaintiffs in this week’s suit were businesses that failed during construction, such as Arroy-D Thai Restaurant, Don Don Noodle CafA?Ai??, and Hugo Restaurant.
Translink won’t comment on the lawsuit. But the stores are optimistic about a big payout. The fight is coming just months after a court victory by small business owner Susan Heyes, who won $600,000 in damages in a similar suit.
“The whole thing was opened up by Hazel and Company,” said Nider. “She put her neck on the line and we owe her a debt of gratitude.”
In the meantime business owners are waiting for the increased traffic from the Canada Line to bring revenues up to where they used to be.
Update, Monday @ 8:35 AM – from CKNW Radio………..
VANCOUVER/CKNW(AM980)
1/18/2010
A second group of Cambie Street businesses is seeking compensation for the impact caused by building the Canada Line with a cut-and-cover tunnel instead of a bored tunnel.Over 40 merchants have filed a writ in BC Supreme Court saying the decision to change the method of tunnel construction “significantly impaired” access to their businesses.
Some were forced to close or relocate because of the giant trench in front of their stores, which was left open for at least 11 months.
The group says the nuisance could have been avoided by sticking with a bored tunnel and that the change constituted “unreasonable interference”.
A separate class action suit involving another 250 businesses has also been launched.
Maternity clothing store owner Susan Heyes was awarded $600-thousand in her own lawsuit last May. An appeal of that decision is ongoing.
Another Gadgetbahnen Bites the Dust – Las Vegas Monorail Files for Bankruptcy
This news is not surprising and well illustrates the nonsense pandered by the light-metro lobby that grade separated, automatic transit systems themselves attract ridership. Monorails are in fact proprietary light-metros and once one invest with monorail, it is stuck with both monorail and the supplier, which is very bad for future transit planning, with Vancouver well illustrating the many problems that come with our SkyTrain gadgetbahnen.
Despite the hype and hoopla with the 6.3 kmAi??Ai??Las Vegas monorail, it just did not meet its promoters expectations andAi??Ai??with itsAi??Ai??expensive construction costs and lack of customer popularity, thereAi??Ai??will be little appetite toAi??Ai??fund aAi??Ai??much needed $500 million, 5.6 kmAi??Ai?? extension to McCarran International Airport, despite the positive spin in the news item.
The Las Vegas monorail could very well be the harbinger of things to come for the proposed Honolulu elevated light metro!
From Mass Transit website:
Las Vegas Monorail Files for Bankruptcy
Adrienne PackerLas Vegas Review-Journal (NevadaNEVADA – The Las Vegas Monorail Company filed for Chapter 11 bankruptcy Wednesday, one month after representatives of the rail system announced such a move could allow a future $500 million expansion to McCarran International Airport.
Monorail officials said last month that they had three options: negotiate an agreement with bondholders without filing for bankruptcy; file for bankruptcy with the bondholders’ blessing; or file without a new agreement in place.
In 2000, the state’s Department of Business and Industry awarded the company the tax-exempt bonds in a three-tier structure with the company promising revenue after the monorail met the start-up costs.
Monorail representatives told the state it anticipated about 20 million passengers a year who would pay a fee of $2.50 per trip. Its Web site says it has carried 27 million passengers in five years.
Last year, the train carried 6 million passengers and brought in $27 million in fare box and advertising revenues. In prior years, ridership figures hovered between 7 million and 8 million. Company officials blame the sluggish economy for the drop. Las Vegas hosts fewer conventions and attendance has decreased at events in town.
The company was forced to dip into its reserve funds in 2008 in an effort to meet more than $19 million in principal and interest due for the bonds issued by the Business and Industry division. At that time, Fitch Ratings, a New York City-based credit rating firm, estimated the company had $69 million in reserves on hand, down $20 million from 2006.
Curtis Myles, chief executive officers of the company, would not elaborate on a deal forged with bondholders.
“We have been in discussions with bondholders. We have some agreements with some of them; some are pretty confidential,” he said. “They are definitely aware we are filing.”
Chapter 11 bankruptcy means reorganizing the financial structure; a plan developed throughout court proceedings is ultimately approved by a judge or a vote of the creditors. The company’s intent is to lower its payments to bondholders.
Myles said the filing will not effect monorail services.
“We’ll open tomorrow,” Myles said.
Ridership has never met expectations since 2004, when the elevated train began providing service between the Las Vegas Convention Center and Strip hotels. Because the train’s popularity was underestimated, the company has failed to pay off the $650 million in construction and start-up costs.
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