Company makes Forbes list

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Friday, Jan. 7, 2005 | 11:07 a.m.

MGM Mirage is one of 26 companies selected for Forbes' annual list of "Best Managed Companies in America."

The company was the only one selected in the "hotels, restaurants and leisure" category. Forbes ran screens across 26 industries for companies with at least $1 billion in annual revenue and high ranks for corporate practices, profit and stock performance, among other factors.

Forbes cited the company's $7.9 billion merger with Mandalay Resort Group, potential developments in the United Kingdom and Macau, China as well as its recently announced CityCenter resort and condominium complex on the Strip.

The stock has climbed 80 percent in the past year, adding $2.4 billion to the net worth of major shareholder Kirk Kerkorian, Forbes said.

Perini Corp., which is the largest commercial general contractor in Las Vegas, made the Forbes list of best managed companies in the construction category.

The company, based in Farmingham, Mass., does business here as Perini Building Company Inc.