Mocking

Update on Echelon Place construction, as reported by the Vegas-focused "Movable Buffet" blog from the L.A. Times:

Breaking news: Echelon construction suspended

10:49 AM PT, Aug 1 2008

Boyd Gaming announced today they were suspending construction on the nearly $5-billion Echelon project that is going up where the Stardust once was located. According to the statement:

"Due to the difficult environment in today's capital markets, as well as
weak economic conditions, we have decided to delay our Echelon project on the
Las Vegas Strip. Our present expectation is to resume construction in three to
four quarters, assuming credit market conditions and the economic outlook
improves."

Though rumors of problems with Echelon construction financing had been
widespread, the resort was actually already being built. I don't think anyone
was fully prepared for Boyd Gaming (one of the local companies that really has
mastered the Vegas market for decades) to simply bring the project to a total,
if ostensibly temporary, halt.

Good ol' Vegas Rex has up photos of what the place looks like right now, as construction is suspended.

I don't really care much one way or the other when or if this thing gets finished. I just find it amusing how closely the situation resembles that of a biblical story I learned in Sunday School long ago:

For which of you, intending to build a tower, sitteth not down first, and
counteth the cost, whether he have sufficient to finish it?
Lest haply, after he hath laid the foundation, and is not able to finish
it, all that behold it begin to mock him,
Saying, This man began to build, and was not able to finish.
Luke 14:28-30 (King James Version)