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 MGM Resorts reduces CityCenter liens<br><br>HomeColumns Blogs Video Photos Weather Traffic Special Sections Contests Sponsored Content NewsLas Vegas Neighborhoods Politics Government Crime Courts Education Opinion Archives GamblingBetting Line Casinos Gaming Inside Gaming EntertainmentNeon Shows Music Arts Culture Events/Calendar Night Clubs Restaurants Movies TV Puzzles Games Horoscopes BusinessLas Vegas Tourism Conventions Economy Housing Money Investing Banking Nation World Get On the List Legal Notices SportsUNLV Rebels Poker MMA Boxing Nevada Preps Baseball Hockey Football Motor Sports Golf Rodeo Basketball Betting CommunitymyView Home Garden Health Fitness Pets Family Fashion Food Cooking R Jeneration Community Link Weddings Celebrations ObitsToday's Obituaries Submit an obit JobsFind a job Post a job Submit a resume Career Events Log in AutosSearch for vehicles Sell your vehicle Drive Road Warrior Cheap Gas Prices Research A Vehicle Autos Illustrated User Login HomesFor Rent New Homes Guide Commercial Real Estate Place An Ad Buy SellClassifieds Place An Ad Print Ads DealsmyRJ Deals Local Coupons Grocery coupons Visitor GuideEvents Attractions Best of Las Vegas Recreation Guide Cerca Weddings<br><br>CityCenter developer MGM Resorts International said it has reduced the amount of mechanics' liens by subcontractors who worked on the massive Strip project by almost $70 million, or about 14 percent.<br><br>The casino operator said in a Monday filing with the Securities and Exchange Commission that the reduction was "a result of payments of settlements of underlying subcontractor claims."<br><br>The company, which owns CityCenter in a 50 50 joint venture Dubai World, said in the SEC filing that it had amended a $1.8 billion debt agreement for the development, which allows for the mechanics' liens to exist through the end of the year.<br><br>MGM Resorts said the mechanics' liens, filed by CityCenter general contractor Perini Building Co. this year, had been reduced from $491 million as of June 30, to $424 million as of Thursday, which was the end of the company's third quarter.<br><br>"CityCenter Holdings has been actively pursuing settlements with subcontractors," the company said in the SEC filing.<br><br>MGM Resorts and Perini traded charges and countercharges over money owed to subcontractors for work on the $8.5 billion CityCenter, which opened in December. MGM Resorts took over the closeout process with subcontractors last summer after Perini filed the liens and sued the casino operator in Clark County District Court.<br><br>In August, MGM Resorts said it had settled overdue payments with 77 of the 233 subcontractors who had filed claims seeking compensation for their work on CityCenter. In previous statements, MGM Resorts officials said the company hoped to resolve the mechanics liens by the end of the year.<br><br>"It is our understanding that CityCenter subcontractor liens could materially be resolved by Thanksgiving or sooner," Union Gaming Group principal Bill Lerner told investors following MGM Resorts' filing with the SEC.<br><br>"The outstanding lien balance has been shrinking as MGM . has been settling invoices," Lerner said. "We estimate that once all subcontractors liens are paid or removed in the next few months, approximately $100 million of direct Perini lien exposure will remain."<br><br>Wells Fargo Securities gaming analyst Carlo Santarelli said the news from MGM Resorts would be well received by company shareholders who are worried the Perini lawsuit could weigh down stock values.<br><br>"While we sense this amendment was anticipated by investors, we do believe it will remove an overhang on shares in the near term," Santarelli said in a research note.<br><br>Much of the argument between Perini and CityCenter surrounds the unfinished Harmon Hotel at the front of the CityCenter site. Construction defect issues caused the tower to be scaled back and redesigned from 47 floors to 26 floors after subcontractors installed defective reinforcement bars.<br><br>Perini officials said only a few subcontractors performed the defective work on the Harmon and were held out of the closeout process. In no way do they represent the view of Stephens Media LLC or this newspaper. This is a public forum. Read our guidelines for posting. If you believe that a commenter has not followed these guidelines, please click the FLAG icon next to the comment. Five children rescued from filthy baby sitter's home in. A brand new bag: Albertsons,iphone 5s case gucci, Safeway plan to merge Two Las Vegas Sands executives resign Netflix subscribers target of a new phishing scam Centennial Things to Do, March 11 17
+== Dh2z www.hughesmcgrath.com:05 Billion for Copyright Infringe ==
+Billion for Copyright Infringements with Apple<br><br>By Scott Martin and Jon Swartz (USA TODAY)   A federal jury in San Jose late Friday ruled that Samsung infringed on multiple Apple patents, awarding the Cupertino, Calif., maker of the iPhone and iPad more than $1 billion in damages and rewriting the rules for mobile technology patent disputes.<br><br>Apple shares rose 1.8% to $675.04 in after hours trading after the news.<br><br>The $1.05 billion in damages is the largest surviving verdict in patent history. Two larger verdicts were reversed, according to Stanford University law professor Mark Lemley.<br><br>"It's a huge win for Apple," says Lemley, who specializes in technology. "But this is one lawsuit among 50 in the smartphone market, and Apple's real target may be the Android ecosystem."<br><br>Apple's nearly clean sweep is likely to blunt momentum for Samsung which recently passed Apple as the world's largest seller of smartphones and will probably force it to redesign its mobile devices, Lemley says.<br><br>The bigger question is whether Apple's resounding victory "scares off" Google Motorola and others in the smartphone wars,, he says.<br><br>Jurors found that on the screen bounce back patent, Samsung infringed on all phones and tablets. On patent 915, pinch and zoom, the jury found Samsung infringed with all but three devices.<br><br>Samsung violated the design patent for the front of the iPhone for all but one phone, according to the jury. On the home screen patent, Samsung violated with all phones, the jury found. Samsung did not violate one particular Apple iPad patent that covers its design, the jury found.<br><br>Samsung said in a statement: "Today's verdict should not be viewed as a win for Apple, but as a loss for the American consumer."<br><br>After the verdicts were read, the judge sent the jury back to deliberate further on two inconsistencies involving about $2.5 million in damages awarded to Apple based on products jurors found didn't infringe Apple's patents. Those deliberations were continuing.<br><br>The technology titans battled for more than three weeks in court over allegations that Samsung copied Apple's mobile device designs and software.<br><br>"If Apple patents are upheld long term, it will force the industry toward innovation and differentiation," says Gartner analyst Michael Gartenberg. District Court Judge Lucy Koh presided over the San Jose courtroom. Last month, she awarded Apple a preliminary injunction that could force Samsung's Galaxy Tab 10.1 tablet computer from stores pending the outcome of the trial.<br><br>"I think she's going to grant an injunction and a fairly broad one," says Lemley, indicating Samsung's Galaxy Tab 10.1 could be yanked from the market.<br><br>Apple presented hundreds of pages of documents, as well as the testimony of scientists, executives and engineers, to support its claims that its iPad and iPhone were being copied by Samsung. Apple wanted products pulled and $2.5 billion in damages.<br><br>In closing arguments on Tuesday, Apple attorney Harold McElhinny alleged that Samsung documents show that in three months, it was able to copy four years of Apple development. He said they show "hundreds of pages of copying directions" for icon design and functions such as tap to zoom that were put into the Galaxy phone and tablet line.<br><br>He also said Samsung met with Google, which advised the company to change Galaxy designs, but Samsung declined.<br><br>"The damages in this case should be large, because the infringement was massive," McElhinny said.<br><br>Samsung lawyer Charles Verhoeven, in closing, shot back that the documents don't show what Apple claims. "It's a shell game for counsel trying to mislead you," he said. "They have to prove to you with their evidence that consumers will be deceived, there's a likelihood of deception. This doesn't meet the burden of proof."<br><br>Much is at stake over patents that cover Apple's graphic user interface patents for touch screen functionality. Samsung, in effect, serves as a proxy for Google because the search giant's Android software powers the Samsung devices in question. The outcome could have implications for patent cases worldwide and for other makers of Android powered devices.

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Revision as of 07:34, 19 April 2014

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