In-depth articles on the Las Vegas Monorail project by the Nevada Policy Research Institute, from the beginning:
From the start, the Las Vegas Monorail project has been structured so that Nevada taxpayers will end up paying the bills.
How a scheme to shift costs of the Las Vegas monorail away from sponsoring hotels and onto taxpayers led to a hugely inflated project price tag and fishy ridership numbers.
For rail mass transit to succeed in metropolitan Las Vegas, says Wendell Cox, the internal combustion engine would have had to never exist. "The problem," says the Illinois consultant.
Rio, TI, Paris and
mentioned in indictment
By David Mckee
Las Vegas Business Press
Major Strip properties are again being brushed by an Asian money-laundering scandal. A quartet of casinos was used as a conduit for Chinese racketeers to embezzle funds into the United States, according to an indictment filed by the U.S. Attorney's office.
Four of the alleged embezzlers were arraigned two weeks ago. The fifth, Kwong Wa Po, is currently at large.
By Tony Illia
Nevada Business Journal
Nevada’s economy and steady job growth are attracting record numbers of new residents, causing a rapid urbanization in the state’s major cities. Developers and investors are now fast-tracking projects in order to meet the demand for services ranging from offices and homes, to shops and restaurants. The state’s unprecedented development activity has taxed its contractors and suppliers who are struggling with industry-wide issues of a shrinking labor pool and rising material prices.
In Las Vegas, high-rise condominium projects are being canceled due to higher-than-expected building costs.
It's been a rallying cry since the 1970s -- but it could doom the economy, the environment and our position in the world
By Justin Fox
NEW YORK - It may be one of the most dangerous phrases in the English language. It certainly is one of the most expensive. I speak of "energy independence," a rallying cry since the oil crisis of the 1970s and one that has been getting a ton of ink (and pixels) lately, especially since President Bush brought up the subject in his State of the Union address.
By Jeffrey Mccracken
The Wall Street Journal
FLINT, Mich. -- In his 34 years working for General Motors Corp., one of Jerry Mellon's toughest assignments came this January. He spent a week in what workers call the "rubber room."
The room is a windowless old storage shed for engine parts. It is filled with long tables, Mr. Mellon says, and has space for about 400 employees. They must arrive at 6 a.m. each day and stay until 2:30 p.m., with 45 minutes off for lunch. A supervisor roams the aisles, signing people out when they want to use the bathroom.
[continued] This article will be available to non-subscribers of the Online Journal for up to seven days after it is e-mailed.
By Adam B. Summers
Budget & Tax News
While private-sector pension terminations and freezes are grabbing headlines, the situation is every bit as grave for government pension systems.
Like many of the remaining traditional defined-benefit pension plans in the private sector, government pension plans are swimming in red ink.
As of January 25, 2006, the National Association of State Retirement Administrators and National Council on Teacher Retirement reported an aggregate unfunded liability of nearly $296 billion for the 103 pension systems and 127 total plans in their Public Fund Survey. A 2004 analysis by Wilshire Associates put the unfunded liability as high as $366 billion.
By Frederick M. Hess
A new fad, called the "65 percent solution," is sweeping through school-reform circles. Eager to answer the education lobby's endless demands for more money, would-be reformers have embraced the idea that school districts should instead better focus existing dollars by spending at least 65 percent of their budgets on classroom expenditures. The idea has an initial, facile appeal. But it deserves a second, more careful look.
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