The Las Vegas Monorail (NV) filed a reorganization plan in federal bankruptcy court that would reduce its debt by more than $600 million. The filing says that the monorail never met ridership projections and the recession made things worse. According to the Las Vegas Sun, a reorganized company would generate enough revenue to cover operating costs through 2019, pay down some of its debt, and support future capital improvements. The alternative, according to the plan, is shutting down service within 10 years. Link to full story in Las Vegas Sun.
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