Las Vegas Monorail Co., private owner of a $650-million, 4.2-mile automated rail line connecting eight Las Vegas Strip resorts and the convention center, filed for Chapter 11 bankruptcy protection on January 13, one month after an announced $500-million expansion to McCarran International Airport. The dual-line system began operation on July 15, 2004. Granite Construction Co. Inc., Watsonville, Calif., and Bombardier built the monorail under a $354-million, fixed-price contract. Estimated to carry 40,000 passengers a day, the monorail ran into trouble when, on Sept. 1, a 20-in., 60-lb rubber steering tire broke off during transit. Officials replaced the wheel assemblies and
The market is generally healthy and steadily growing, and margins are up for large specialty contractors. Further, advances in design tools and owner demand for collaboration are giving subcontractors a seat at the table early on in projects.