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Everything posted by fmulder21

  1. Everyone's favorite SFFT has NO MUSIC! (unless they fixed it:) Kemah boardwalk has the same amusement music over and over.
  2. Drove by to go to target(although i pass up 2 on my way) to get Bioshock game, No train 2 @ brake run near station. No physical evidence of anytrack moving/adjusting from street level.
  3. Wow i completly missed that post! Oh well i'm giving up hope it'll open this year.
  4. Also, It is unfortunate that most cities in the Houston area HAVE NO ZONING LAWS! So they can built an intamin drop tower next to my house and all i can do is shut up and take it. (or sell )
  5. Yep, the white trailer was pulled out today, Both trains are on the track. I haven't seen the 2 cars with canadian tags. Any day.
  6. If the "owners" can get there heads on.. Business Aug. 17, 2007, 12:00AM Landry's dispute is still up in the air Judge orders restaurant chain, bondholders to try for settlement By PURVA PATEL Copyright 2007 Houston Chronicle TOOLS Email Get section feed Print Subscribe NOW Comments Recommend GALVESTON — A dispute between Landry's Restaurants and its bondholders remained unresolved Thursday after a federal court hearing during which CEO Tilman Fertitta testified that a ruling against the company would force it to halt all new projects. Landry's is asking U.S. District Court Judge Samuel Kent to make permanent a temporary restraining order against bondholders who've called for the immediate repayment of $400 million in notes. The Houston company fell into technical default, the bondholders say, after it failed to file its 2006 annual report on time. The company said the delay was necessary because it was conducting an investigation into past stock-option granting practices. Kent ordered the two sides to try to work out an agreement on their own and to return to his courtroom on Monday if they failed. Fertitta said all major developments — including additional plans in Las Vegas, where the company owns the Golden Nugget Casino, and projects slated for Houston and Galveston — would be put on hold while the company focused on generating enough income to pay off the notes, if the court sided with the bondholders. "I'd just as well go on vacation, because we will be just sitting there," he said. Fertitta said the company could use backup financing it arranged last week with banks to pay off the bonds, but it's costly, he said. The company's standby financing comes with a one-time $5 million fee and a higher interest rate of 11 to 12 percent, which amounts to at least $15 million a year in additional interest, and must be paid off in two years, Fertitta testified. He added that the loan would lead to a loss in liquidity of more than $200 million. Proceedings paused midday and attorneys for bondholders and Landry's tried to negotiate a deal. But those talks broke down, Fertitta said after the hearing. "All we're looking for is a deal that's better than the bank deal," he said. Kathy Patrick, an attorney for the bondholders Post Advisory Group and Lord Abbett Bond-Debenture Fund, said she hoped the two parties would come to terms. "It's not for lack of trying," she said after the hearing. During his opening remarks to the court, Landry's attorney Anthony Buzbee referred to the bondholders as "sharks," seeking to extort money from the company. He said bondholders asked Landry's to pay $4 million just to meet and negotiate. He said the bondholders were trying to force Landry's into an involuntary bankruptcy. After the hearing, Patrick said her clients were not sharks, but managed mutual funds and pension funds. "These are individual investors," she said. "Bondholders have been willing to negotiate and arrange a fair deal that reflects the realities of Landry's situation." When the notes were called, and bondholders demanded $4 million just to negotiate, Fertitta said he felt help- less. "I've never felt totally trapped into a corner," Fertitta testified. "I can usually handle a lot of situations, but I truly in my heart did not know what to do." Some vendors are nervous and credit-rating agencies have cut the company's corporate-debt ratings and may not raise them because the interest payment on the standby financing is so huge, he said. But upon cross-examination by Patrick, Fertitta acknowledged that if Landry's has to use the standby credit, the company would not go bankrupt, have to close any restaurants or have to lay off employees. Patrick also noted that Landry's had made statements that it knew its bonds were immediately payable after bondholders called them. "They gave you five months, sir," she said. "When they accelerated the notes, they asked you to pay." Fertitta said he didn't know who the bondholders were or to whom to make out a check even if he were to pay. When Patrick said Landry's could pay the trustee, U.S. Bank, Fertitta said, "I don't think it's nice of them to ask for it on that day after sitting on it for five months." To which Patrick responded, "As you're apt to say, Mr. Fertitta, this isn't about niceness. This is about contracts." The one that says "Landry's may seize to exist" i can't find.
  7. \ It's still standing, Fox 26 has a "Kemah cam" they show on the weather. I can't find it on the site though.
  8. Guru guy for being worried about using a digital camera your movie was GREAT! DId they let you guys get to the station?
  9. Drove from Galveston to Houston...Counted ATLEAST 6 BB billboards on the way back!
  10. Thanks for the update, I hope that's it! School starts soon and NO LINES is what i'm hoping for
  11. I'm just messing around. It is HOT though i went out out wednesday and walked around kemah...I almost melted hell the inside of my pants where sweaty
  12. Maybe i'm not ready correctly...The train was pushed back and made to the station? After that they did another test run?
  13. You mean both trains made a complete circuit? after they vallied?!
  14. Nothing new, Some work continues by the bay...If i'm not mistaken i saw men OILING the track. The first train is no longer in sight(back on track i assume.) Testing should begin any day/hour(Unless they decide to readjust other track.)
  15. I'm headed out there before 12. Probably won't see anything but who knows.
  16. It would seems so, I guess it's like a river, Common path of least resistance is a straight line. I'm no engineer but all the banking probably pushes the weight on one side, slowing down the train a bit.
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