Financier Carl Icahn is moving forward with plans to buy the troubled Fontaine- bleau project in Las Vegas by offering $156.2 million in cash and financing at a Jan. 27 bankruptcy court auction. The 737-ft-tall, 4,000-room Fontainebleau, which owes more than $1 billion to its lenders, needs another $1.5 billion to complete construction. There are 342 contractors and subcontractors that are owed an estimated $467 million for work at the stalled job. They have been pressing for the right to take over the project for what they are owed. Lenders, headed by Bank of America, meanwhile charge that the liens
The growing need to collect, store and analyze the huge volumes of data collected from infrastructure project stakeholders is generating a new growth area for construction-sector firms, IT vendors and professionals.