News Archive

  • For gaming stocks, 2011 generally not a good year

    December 31, 2011 | Las Vegas Review-Journal | Howard Stutz

    Good riddance to 2011.

    A majority of the gaming sector saw its average daily stock prices nosedive during the year despite a perceived economic recovery in most of the major gambling markets, including Las Vegas.

    Seven out of the 10 casino operators and slot machine manufacturers followed by Las Vegas-based financial consultant Applied Analysis for the company's gaming index finished December below their average daily price from December 2010.

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  • Analyst says Southern Nevada economy has 'turned the corner'

    December 30, 2011 | Las Vegas Review-Journal | Hubble Smith

    Economists declared the Great Recession officially over two years ago, though it certainly hasn't felt that way in Las Vegas.

    Now, an analyst from the University of Nevada, Las Vegas says we've seen the worst and predicts better times and job growth in 2012.

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  • Double-digit jumps in diverse categories drive taxable sales higher

    December 28, 2011 | Las Vegas Review-Journal | Hubble Smith

    Double-digit sales increases in motor vehicles and parts, clothing and accessories, and food and beverage drove Nevada's taxable sales up 12.1 percent to $3.52 billion in October, the state Department of Taxation reported Tuesday.

    Clark County taxable sales rose 9.3 percent from the same month last year, while Washoe County posted a 14.9 percent increase. Of Nevada's 17 counties, only Lincoln County showed a decrease.

    The construction industry classification showed the largest increase at 44.5 percent, though that is based on low comparison numbers, said Steve Miller, chairman of the economics department at University of Nevada, Las Vegas.

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  • CONSTRUCTION 2012: Not much on the drawing board
    Glut of vacancies means rut will continue for construction industry

    December 21, 2011 | Las Vegas Business Press | Hubble Smith

    Recovery in the construction industry will be slow and gradual, with little progress expected in 2012 as Las Vegas struggles with oversupply in both commercial and residential sectors and stalled development on the Strip.

    At no time in Las Vegas history have the challenges confronting construction been greater than today, said Jeremy Aguero, an economic analyst at business advisory firm Applied Analysis.

    Commercial vacancies are running at a record high, new-home sales are at a record low and some 72,000 construction workers have lost their jobs in the last three years.

    Unfortunately, that may only be a harbinger of challenges ahead, Aguero said.

    There's no better example of the nation's economic imbalance than the construction sector in Southern Nevada, he said.

    "What is abundantly clear is that we built too many houses, office buildings, industrial parks and retail centers," Aguero said. "What is much less clear is how this sector regains solid footing."

    Read More »
  • Statewide unemployment rate down for first time in six months

    December 20, 2011 | Las Vegas Review-Journal | Jennifer Robison

    Nevada's most recent jobs report reads like a Secret Santa gift exchange: a few pleasant surprises mixed in with some real dogs.

    Overall, we're doing slightly better than merely treading water, said Bill Anderson, chief economist of the state Department of Employment, Training and Rehabilitation. But the latest figures show a recovery so barely-there that only a statistician could love them, added Steve Brown, director of the Center for Business and Economic Research at the University of Nevada, Las Vegas.

    And amid improved year-over-year hiring in most industries are stark reminders that real recovery is far away for hundreds of thousands of Nevadans.

    Still, the picture is better than it was in early 2011, and for the most part, it's brightening little by little each month. Economists and observers said Monday that they expect mild employment upticks at least through December, to close the year on a note of expansion.

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  • Plans to move forward on Laughlin solar plant get approval

    December 20, 2011 | Las Vegas Review-Journal | Kristi Jourdan

    A land deal approved Tuesday by the County Commission to sell 9,000 acres in Laughlin to a Chinese-based energy company is the next step for a billion-dollar solar farm, factory and research park that could create thousands of jobs.

    With the land that reaches both the California and Arizona borders secured, ENN Mojave Energy can now try to negotiate purchase power agreements with utilities needed to move the project forward.

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  • Local economist sees good news in jobs report

    December 3, 2011 | Las Vegas Review-Journal | Jennifer Robison

    The unemployment rate, which has refused to budge from the 9 percent neighborhood for two and a half frustrating years, fell sharply in November, driven in part by small businesses that finally see reason to hope and hire.

    Economists say there is a long way to go, but they liked what they saw.

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  • Survey war: Study disses Nevada but some question analysis

    December 1, 2011 | Las Vegas Review-Journal | Jennifer Robison

    We get it -- we stink.

    For the umpteenth time in the state's four-year-old economic slump, Nevada has landed dead last in a study looking at economic vitality.

    But as the Opportunity Index from Massachusetts advocacy group Opportunity Nation makes the rounds in local media, it's worth asking how legit those statistics are. The answer is important: Not only are the numbers potentially irrelevant, but the picture they paint could unfairly harm Nevada's economic recovery, say local economists.

    "Reports like this are kind of wrongheaded, and they could do damage to Nevada," said Steve Brown, director of the Center for Business and Economic Research at the University of Nevada, Las Vegas. "They give the wrong impression. In fact, people are finding opportunity here."

    To understand where Opportunity Nation's report errs, consider the analysis.

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  • Stock market surge boosts casino stocks

    December 1, 2011 | Las Vegas Review-Journal | Howard Stutz

    One day doesn't make a month.

    But Wednesday's 490-point surge by the Dow Jones industrial average -- the largest single day gain since March 2009 -- gave the stock prices of several publicly traded casino operators and slot machine manufacturers a lift on the last day of November.

    The month as a whole, however, was a mixed bag.

    Casino giant Wynn Resorts Ltd., which saw its price per share climb $10.42, or 9.46 percent, to close at $120.56 on the Nasdaq Global Select Market on Wednesday, saw its average daily price fall more than 6 percent during the month.

    Brian Gordon, a principal with Las Vegas-based financial consultant Applied Analysis, which charts seven casino operators and three manufacturers for its Gaming Index, said the sector surged Wednesday. The underlying question? Was this a one-day event?

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  • Local apartment occupancy improves during third quarter

    November 26, 2011 | Las Vegas Review-Journal | Hubble Smith

    Apartment occupancy in the Las Vegas Valley improved to 92.7 percent in the third quarter, up from 92 percent in the previous quarter and the highest it's been in three years, business advisory firm Applied Analysis reported.

    On a year-over-year basis, occupancy is up 0.8 percentage points, the sixth-straight quarter of year-over-year increases.

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  • Taxable sales rise sharply in Nevada, Clark County

    November 23, 2011 | Las Vegas Review-Journal | Jennifer Robison

    Taxable sales jumped in September, led by sharp sales bursts from restaurants, clothing stores and car dealers, the Nevada Department of Taxation reported Tuesday.

    Taxable sales across Nevada totaled $3.58 billion in the month, up 10.4 percent from $3.24 billion in September 2010, with 14 of the state's 17 counties showing a year-over-year increase.

    Only Lincoln, Nye and Washoe Counties recorded decreases.

    Sales in Clark County rose to $2.57 billion, up 10.5 percent from $2.32 billion a year earlier.

    Clark County bars and restaurants -- the single biggest spending category with 28 percent of the total -- increased sales by 14.5 percent, to $716.5 million.

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  • Nevada unemployment rate unchanged; valley's down slightly

    November 22, 2011 | Las Vegas Review-Journal | Jennifer Robison

    Looks like Nevada's recession ended in September 2010.

    But we're betting it doesn't feel that way to you.

    You're not imagining things: The latest numbers from the state Department of Employment, Training and Rehabilitation show a positively anemic "recovery" since the state's jobs market bottomed out last fall. In fact, it's the worst rebound in recent history, with growth handily lagging job-formation rates after recessions in 1982, 1991 and 2001.

    That barely there economic expansion is why Nevada's unemployment rate stayed the same for the third straight month in October, coming in at a nation-leading 13.4 percent, the employment department reported Monday. In Las Vegas, where jobless rates aren't seasonally adjusted, unemployment fell from 13.6 percent to 13.1 percent as teachers returned to work and businesses began hiring for the holiday sales rush.

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  • Hopeful sign: U.S. adds 80,000 new jobs

    November 5, 2011 | Las Vegas Review-Journal | Jennifer Robison, Staff and Wire Reports

    The American economy added 80,000 jobs in October, and job growth in the two previous months was much stronger than first thought, an encouraging sign as the nation searches for a way out of the jobs crisis.

    The unemployment rate dropped to 9 percent from 9.1 percent, the first time it has fallen since July and the lowest rate since April, the government said Friday.

    "Those are pretty good signs," Bank of America Merrill Lynch senior economist Michael Hanson said. "We're hanging in there."

    Merely hanging in there might not be good enough to substantially boost Southern Nevada's fortunes.

    It's a positive for Las Vegas that unemployment ticked down and jobs grew nationwide, because a stronger national economy bodes well for local tourism, said Brian Gordon, a principal in local research firm Applied Analysis. But October's improvements weren't significant enough by themselves to lift the city's resort corridor.

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  • Investors send mixed signals to gaming stocks

    October 31, 2011 | Las Vegas Review-Journal | Howard Stutz

    Investors sent mixed messages to the gaming industry's top publicly traded companies during October.

    The three largest casino operators, all of which have casinos in the booming Asian gaming markets, saw their average daily stock prices decline during the month.

    Meanwhile, slot machine makers, who have fought off reluctance by casino executives to spend money on new gaming devices over the past few years, saw their average daily stock prices soar in October.

    "Volatility within the gaming sector continued during October as in the broader markets," said Brian Gordon, a principal in Applied Analysis, which charts the stock prices for 10 companies for its Gaming Index.

    Read More »
  • Analyst explains impact of room taxes

    October 31, 2011 | Las Vegas Business Press | Laura Emerson

    Room taxes generate big revenue for Nevada, a local economic analyst said at the Oct. 11 meeting of the board of directors of the Las Vegas Convention and Visitors Authority.

    At the meeting, Applied Analysis principal Jeremy Aguero presented the latest installment in his economic impact series, "Uses of Room Tax by Nevada Municipalities and Agencies."

    He said room tax rates statewide for fiscal year 2010 ranged from 5 percent to 16 percent. In Clark County, room tax rates ranged from 10 percent to 13 percent for the same period. Almost 90 percent of the statewide room tax collected, from a total of $430 million, was generated within Clark County.

    Translation: $383 million was generated in Clark County in fiscal 2010.

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  • Study: Independents outpace Republicans in Clark County voter registration in third quarter

    October 28, 2011 | Las Vegas Sun | Jon Ralston

    New GOP registrants not only couldn't match the major party opposition in Southern Nevada in the last quarter -- they finished third behind new nonpartisan voters.

    That's according to an independent look by Applied Analysis, which found 40 percent of the new voters in heavily Democratic Clark County were Democrats, 26 percent were independents and 25.9 percent were Republicans. If there is a GOP voter registration program, it either hasn't kicked in yet or it is what it usually is here in Nevada: Nonexistent.

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  • Sales tax summary: Buying is up, building is down

    October 27, 2011 | Las Vegas Review-Journal | Jennifer Robison

    More buying, less building.

    That's Nevada's new normal, if the state's latest taxable sales numbers are any indication.

    Wednesday figures from the Taxation Department show that sales in consumer-oriented categories such as clothing, restaurants and cars grew nicely in August, even as construction activity continued to slide. The upshot? Taxable sales remain well off of their peak, and at current growth rates, it could be at least half a decade before they return to record levels. Get used to slow, single-digit -- albeit sustainable -- growth for the foreseeable future.

    "Big gains are unlikely, if not impossible, within the next several years," said Brian Gordon, a principal in local research firm Applied Analysis. "That's partially a function of the construction industry. It's also unlikely consumers will spend at a faster pace, given the current job and housing climate."

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  • Report: Henderson commercial real estate vacancies a mixed bag

    October 27, 2011 | The Henderson Press | Brian Sodoma

    Commercial real estate vacancies have given the Las Vegas Valley its ghost town image of late. For Henderson, it's been much the same since the recession showed its first signs in 2007, as many once-thriving office and retail destinations now share a common theme of emptiness.

    A recent report from Applied Analysis, a Southern Nevada economic research firm, shows glimpses of stabilization in some areas of Henderson commercial real estate, while other areas are not faring so well.

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  • Green Valley Crossing continues expansion

    October 27, 2011 | The Henderson Press | Brian Sodoma

    John Stewart is aware of the recession that's in full swing. But he does a good job of acting like he's not. The principal of Juliet Properties has his company's name tied to the city's much-anticipated Union Village, a proposed integrated healthcare project near the Galleria at Sunset mall. But his biggest success today may be Green Valley Crossing, a 24-acre retail development at the southwest corner of Horizon Ridge and Sunridge Heights parkways that continues to grow and attract new tenants since it opened in 2009.

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  • Buyers still call shots in Southern Nevada commercial real estate market

    October 25, 2011 | Vegas Inc. | Steve Green

    The latest research on commercial real estate in Southern Nevada shows that, like the residential sector, it remains mostly a buyer's market.

    And while that may sound good for economic development purposes, Las Vegas is hardly the only community that can attract companies with low-cost buildings for sale or lease.

    Brokerage Grubb & Ellis reported last week, for instance, that asking monthly rent for Class A office space in Las Vegas is $2.44 per square foot and runs $1.73 for Class B space — prices dampened by the market's 23.4 percent vacancy rate, as calculated by the firm.

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  • Valley's September unemployment numbers drop

    October 22, 2011 | Las Vegas Review-Journal | Jennifer Robison

    Nevada's battered construction sector is showing signs of life, according to unemployment numbers released Friday.

    Overall unemployment in Las Vegas fell from 14.3 percent in August to 13.6 percent in September, as most of the region's key job sectors added workers.

    But it was construction that surprised the most, adding jobs for the fifth-straight month and growing year over year statewide for the first time in five years. Local builders added 1,000 jobs from August to September, and though jobs in Las Vegas fell by 1,900 year over year, that was the smallest rate of decline since the recession's 2007 start.

    The improved numbers are a hopeful sign, but economists and construction experts say the industry's looking at a long road back to health, given continued oversupplies of homes and commercial space. Nor will the sector return to peak employment any time soon -- though that is not necessarily a bad thing.

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  • Industrial real estate's vacancy rate treads water

    October 22, 2011 | Las Vegas Review-Journal | Hubble Smith

    The industrial real estate sector continues to tread water in Las Vegas with a vacancy rate of 16.2 percent in the third quarter, a slight decrease from a year ago, but 2 percentage points higher than third quarter 2009, RCG Economics reported.

    It will be a "long haul" to get back to the 6 percent industrial vacancy prior to the recession, said John Restrepo, principal of the Las Vegas economics consultant firm.

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  • Las Vegas lure: arts, culture -- really!

    October 20, 2011 | Las Vegas Review-Journal | Jennifer Robison

    Graphic arts company Walls 360 moved from San Francisco to Las Vegas for Sin City's arts and culture scene.

    If you're doing a double-take, that's not a misprint.

    Sure, Walls 360's founders liked Southern Nevada's lack of income tax, cheap real estate, low-cost shipping and big available workforce.

    But it was downtown's monthly First Friday arts festival that really did the trick. Co-founder John Doffing read about it in an article by a tech writer who noted the growing arts scene centered on e-tailer Zappos.com, which plans to move into City Hall in 2013.

    "We went to First Friday and checked things out. We're an artist-centered company, and there's this incredible community of artists in this city that we didn't know about," said Doffing, who ran startups in Silicon Valley for more than 15 years before opening Walls 360 here six weeks ago. "We visited galleries and started interviewing folks, and it pushed us over the edge as far as telling us this was the place for us to go."

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  • Third-quarter retail vacancy in Las Vegas Valley rises to 10.8 percent

    October 19, 2011 | Las Vegas Review-Journal | Hubble Smith

    Retail vacancy in Las Vegas Valley rose to 10.8 percent in the third quarter as retailers such as Borders book stores closed their doors, the Applied Analysis business advisory firm reported.

    The market saw 223,000 square feet of negative absorption, which means more space was vacated than was leased during the quarter. About 100,000 square feet was sourced to the closing of four Borders stores in the valley.

    Vacancy rose from 10.4 percent in the second quarter and from 10.7 percent a year ago.

    The rate has remained above 10 percent for more than two years and is not likely to improve significantly in the near term, said Jake Joyce, project manager of Applied Analysis.

    Read More »
  • GOP presidential hopefuls played for the national spotlight not necessarily the Nevada vote

    October 19, 2011 | Las Vegas Sun | Anjeanette Damon

    The Republican presidential hopefuls who took the stage to debate in Las Vegas Tuesday night played for the national spotlight and momentum in the shifting race, not necessarily the Nevada vote.

    The audience inside the Sands Expo and Convention Center hall, however, served as an instant focus group of sorts on Nevada Republicans — who will play a key role in selecting the candidate to challenge President Barack Obama next year.

    Their reactions showed they’re wary of repeating last year’s misstep of nominating a weak candidate — Sharron Angle for U.S. Senate — in a critical race. The also are eager to elect someone who’s serious about cutting government spending and will be tough on immigration.

    Alternating cheers, boos and catcalls showed the crowd was impressed by Newt Gingrich’s smarts, enthusiastic about a female candidate and entertained by Herman Cain’s one-liners.

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  • Brokers selling large land parcels
    'If it's in a good location, it trades,' says one

    October 17, 2011 | Las Vegas Business Press | Hubble Smith

    A 44-acre parcel of vacant land along a quarter-mile stretch of Silverado Ranch Boulevard has been sold for $6.5 million in one of the few transactions not involving a bank or distressed property, a broker in the deal said.

    The seller, Broadcast Associates Inc., bought the land in 1998 for $3.2 million, and used it for communications purposes.

    The land is zoned for general commercial at the corner of Silverado Ranch Boulevard and Bermuda Road, and for residential to the west.

    Commercial broker Zoltan Hollo of Insight Realty Associates represented the buyer, who asked to remain private. Hollo said common sense will dictate development. The land already has off-site improvements such as sidewalks, curbs and gutters in place. That can make a significant difference in the price of land, he said.

    Las Vegas-based Applied Analysis reported an average price of $235,071 an acre for vacant land in the second quarter, compared with $154,665 a year ago. Hollo's sale was about $147,000 an acre.

    Read More »
  • Pipeline project's benefits touted at water hearing

    October 14, 2011 | Las Vegas Review-Journal | Henry Brean

    The Southern Nevada Water Authority wrapped up its case for rural groundwater Friday with testimony on the potential economic impacts at both ends of its proposed pipeline project.

    Rick Holmes, the authority's deputy general manager for engineering and operations, testified about the "limiting factors" on future growth and development in the four rural valleys the authority hopes to tap.

    He was followed in the afternoon by economic analyst Jeremy Aguero, whose testimony in the state water hearing in Carson City focused on the importance of Southern Nevada's economy and what could happen to it without a reliable water supply.

    Read More »
  • Fry's looks to open store at Boca Park in 2012

    October 11, 2011 | Las Vegas Review-Journal | Jan Hogan

    The building at the northern edge of Boca Park has sat empty for three years. It won't be empty much longer. Fry's Electronics is on its way.

    Manuel Valerio, Fry's community relations manager, said the company looks at demographics to help determine a new location. He said the large number of professionals in the Summerlin area was appealing. Fry's other criteria include a building with a large footprint, good location for traffic ingress and egress and ample parking.

    "We thought this was a perfect fit," Valerio said.

    Valerio indicated the building's interior needed to be refurbished, with the plan being to open it in 2012. Court filings indicate Fry's plans to spend between $3 million and $5 million on the interior to bring it up to its specifications.

    Read More »
  • Gaming stocks navigate rough waters as September closes

    October 1, 2011 | Las Vegas Review-Journal | Howard Stutz

    If the stock market performance by the gaming sector was considered "choppy" during September, then the last day of the month was certainly rough waters.

    The prices for publicly traded casino companies, particularly those with holdings in Macau, were hammered Thursday and Friday as investors grew worried over a boarder economic slowdown in China.

    For the month, eight of 10 casino operators and slot machine companies charted by Las Vegas financial consultant Applied Analysis for the company's gaming index saw their average daily stock prices tumble compared with August.

    Read More »
  • Gains in gaming win, taxable sales can't lift Las Vegas economy

    September 30, 2011 | Las Vegas Review-Journal | Jennifer Robison and Hubble Smith

    If you have a magic wand, now might be the time to use it.

    The nation's economy isn't improving enough on its own to send firm signals on an overall direction. Some indicators point to growth; others hint at continued decline. The mixed feedback means uncertainty and sluggish growth in the Southern Nevada economy at least into 2012.

    "We're just going to move horizontally," said Steve Brown, director of the Center for Business and Economic Research at the University of Nevada, Las Vegas.

    The national economy, meanwhile, is showing modest improvement -- not enough to reduce high unemployment but enough to ease fears of a double-dip recession.

    Read More »
  • Perot Rolls the Dice on Las Vegas Rebound

    September 28, 2011 | The Wall Street Journal | Kris Hudson and Robbie Whelan

    Ambitious Texas developer H. Ross Perot Jr., son of the computer billionaire and erstwhile third-party presidential candidate, is betting on an eventual rebound of the Las Vegas housing market by angling for control of a huge swath of land north of the city.
    Mr. Perot's Hillwood Communities bought 400 acres of the so-called Park Highlands development in 2008 at a steep discount, and late last year, Hillwood bought the remaining 1,000 developable acres for an undisclosed "nominal amount."

    Read More »
  • State's taxable sales rise

    September 27, 2011 | Las Vegas Review-Journal | Jennifer Robison

    Less building, more eating.

    That's the story in Clark County, where the latest taxable sales numbers show continued struggles for construction, even as the biggest sales category -- bars and restaurants -- posted double-digit percentage gains.

    Sales in Clark County rose to $2.4 billion in July, up 2.6 percent from $2.3 billion in July 2010, according to Tuesday numbers from the state Department of Taxation.

    "The choke hold on the Southern Nevada consumer is starting to loosen," said Brian Gordon, a principal in local research firm Applied Analysis. "In areas in which consumers may have been holding off, we're starting to see spending loosen up. That appears to be benefiting local retailers."

    Read More »
  • Average price for local raw land rises in second quarter
    Big deal skews number, observer says; market remains fragile

    September 19, 2011 | Las Vegas Business Press | Hubble Smith

    While there's no rush to buy raw land in the Las Vegas Valley, the average price rose to $235,071 an acre in the second quarter, a 52 percent increase from the year-ago period, business advisory firm Applied Analysis reported.

    The significant price jump is largely attributable to a 40-acre property in the southeast submarket that transferred ownership through a trustee sale for $51.8 million, or $1.3 million an acre. Without that transaction, the average price would have been $138,000 an acre, down 10.7 percent from a year ago.

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  • Murder on the Nevada Express

    September 18, 2011 | Las Vegas Sun | Jon Ralston

    Friday's news of Nevada's rising unemployment rate, which is both misleading and depressing, brought the predictable reactions from the state's political elite in D.C.

    We need to work together, Republicans shouldn't obstruct, Democrats need to shift course. Spin, blather, drivel.

    It is time for a dose of reality: This state's economy is the worst in the country as a result of Murder on the Nevada Express, the derailing of a speeding growth train where the passengers rode along blithely, ignoring underlying infirmities and seeing no end in sight.

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  • Unemployment up for fourth straight month in Las Vegas

    September 17, 2011 | Las Vegas Review-Journal | Jennifer Robison

    The newest unemployment numbers don't even begin to describe how bad the jobs outlook is for many Nevadans.

    The local jobless rate jumped to 14.2 percent in August, while the state's rate ticked up to 13.4 percent, the Department of Employment, Training and Rehabilitation reported Friday. In all, 183,500 people, including 135,700 Las Vegans, were out of work in Nevada.

    Worse still, in the 12 months ending in August, half of Nevada's jobless were long-term unemployed -- out of work for 26 weeks or more. Those workers face a cycle of deteriorating skills resulting in even worse hiring prospects.

    Read More »
  • Report has good news, bad news

    September 15, 2011 | Las Vegas Review-Journal | Jennifer Robison

    A new report from a national think tank sounded both positive and negative notes for the Las Vegas economy.

    The Brookings Mountain Monitor, a study that tracks quarterly economic changes in Nevada, Arizona, Colorado, Idaho, New Mexico and Utah, found that parts of the local economy are improving faster than the economies of regional peers, though sustained soft spots are reining in bigger gains.

    On the upside, Las Vegas finished in the top 40 percent in the region for overall recovery. The city's improvements outpaced those of cities such as Phoenix, Denver and Salt Lake City.

    Read More »
  • Las Vegas sees trend of job growth for first time since 2007
    Brookings report says slight economic, job growth are positive signs

    September 14, 2011 | Las Vegas Sun | Steve Kanigher

    Although Las Vegas suffers with one of the weakest economies of U.S. cities, there was a smattering of good news on employment and the value of goods and services produced for the three-month period ended June 30.

    In its quarterly Metro Monitor economic report released tonight, the Brookings Institution think tank in Washington reported that Las Vegas enjoyed a 1.1 percent increase in its gross metropolitan product. That ranked the city third in the nation for the increase — behind Houston and Austin, Texas — and nearly triple the national average.

    Read More »
  • Casino says it's secured financing for Lawrence County facility

    September 13, 2011 | Pittsburgh Tribune-Review | Mike Wereschagin

    The developer of a proposed Lawrence County racetrack and casino told state and local officials that it secured the necessary $150 million in financing by its Monday deadline. American Harness Tracks, a coalition of stakeholders with local ties that bought the Valley View Downs project in Mahoning Township from a bankrupt Indianapolis-based casino company, still must get approval for its financing project from the state Harness Racing Commission. After that, it has to be approved for the last state casino license earmarked for a harness racing track.

    Read More »
  • Reincarnations of vacant retail space could take decades

    September 12, 2011 | Vegas Inc. | Buck Wargo

    Record levels of retail vacancy could prompt some changes in the Las Vegas real estate landscape over the next decade, analysts said.

    The vacancy rate is more than 10 percent in the valley, and excess inventory could take years to absorb. The glut of new space constructed during the boom has led to a drop in rents that has made some aging space less attractive.

    Read More »
  • Report: Las Vegas' recovery hurt by lack of education, diversification

    September 8, 2011 | Las Vegas Sun | Steve Kanigher

    Las Vegas' attempt to turn the corner on the recession has been made more difficult by a lack of educated workers coupled with reliance on industries most vulnerable to the recession.

    That's what can be drawn from a report issued by the Brookings Institution think tank in Washington. Brookings found that cities with the lowest unemployment rates tended to be those that have enough educated workers to fill available jobs along with industries that are either growing or more resistant to recession.

    Read More »
  • Data: Uptick for LV workers' wages tiny

    September 7, 2011 | Las Vegas Review-Journal | Jennifer Robison

    How does an annual pay increase of 6 percent to 12 percent sound to you?

    If you're in software engineering, health care or another skilled field in Las Vegas, it should sound about right.

    Read More »
  • Vacant land market in Las Vegas faces long slog to recovery

    September 7, 2011 | Vegas Inc. | Buck Wargo

    The demand for vacant land in Las Vegas remains low and prices declined in the second quarter, a report released by Applied Analysis says.

    The firm reported the price per acre paid for the 477 acres acquired during the second quarter was $235,071. That’s a 25 percent increase from the second quarter of 2010, when the price was $187,779, and 14 percent higher than the first quarter of 2011, when it was $206,275 per acre.

    Read More »
  • Fire forces 1,500 Southern Calif home evacuations

    September 3, 2011 | My News 3 |

    HESPERIA, Calif. (AP) -- A fast-moving wildfire erupted Friday on the main interstate between Southern California and Las Vegas, forcing evacuations of 1,500 homes and temporarily closing the freeway to holiday weekend traffic before firefighters beat back the flames.

    The fire began at around 1 p.m. on the center divider of Interstate 15 in the Cajon Pass. It grew to 1,100 acres, or nearly 2 square miles within hours, jumping the freeway and burning chaparral in rolling hills that form the nearby San Bernardino National Forest and unincorporated areas of San Bernardino County.

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  • Unemployment numbers bring more bad news for Las Vegas recovery

    September 3, 2011 | Las Vegas Review-Journal | Jennifer Robison

    Employers stopped adding jobs in August, an alarming setback for an economy that has struggled to grow and might be at risk of another recession.

    The government also reported that the unemployment rate remained at 9.1 percent. It was the weakest jobs report since September 2010, and it portends weak job growth in Southern Nevada.

    Read More »
  • Gaming stocks punished during August

    September 1, 2011 | Las Vegas Review-Journal | Howard Stutz

    Let's cut right to the chase. August was a real stinker of a month for gaming stocks.

    All 10 of the publicly traded casino operators and slot machine manufacturers charted by Las Vegas-based financial adviser Applied Analysis saw their average daily stock prices during August decline when compared with July.

    Read More »
  • Protest interrupts Las Vegas congressional hearing on unemployment

    August 30, 2011 | Las Vegas Review-Journal | Richard Lake

    What appeared to be a small, organized protest briefly interrupted a congressional hearing on unemployment and federal job training Tuesday in Las Vegas.

    "We need jobs," shouted Linda Overbey, who stood up from her chair in the audience. "I want to hear from Joe Heck what he intends to do about job training and jobs."

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  • Outbursts mark Congress jobs hearing in Las Vegas

    August 30, 2011 | The Associated Press | Ken Ritter

    LAS VEGAS -- Audience outbursts briefly interrupted testimony Tuesday before a trio of Congress members in Las Vegas for a hearing about jobs and improving federal job training in a state saddled with the nation's highest unemployment rate.

    "I support training. But I need a job!" declared Linda Overbey, 54, an unemployed union painter who became the first of a three people escorted by uniformed Las Vegas police from the otherwise polite hearing at the Opportunity Village Ralph and Betty Englestad campus.

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  • Nevada Development Authority campaign seeks to build credibility

    August 29, 2011 | Vegas Inc. | Buck Wargo

    Call it the soft-sell approach to lure companies to Nevada.

    The Nevada Development Authority has turned away from the chimpanzees and to Nevada business executives and entertainers to pitch relocation to California companies.

    Read More »
  • June numbers show Nevada taxable sales up

    August 29, 2011 | Las Vegas Review-Journal | Jennifer Robison

    Construction just can't dig out of its deep hole, even as the rest of the Nevada economy shows signs of improvement.

    Nevada's taxable sales totaled $3.6 billion in June, up 9 percent compared with $3.3 billion in June 2010, the state Taxation Department reported Monday. Sales in Clark County increased to $2.6 billion, up 8.1 percent from $2.4 billion a year ago. Sales among car dealers, restaurants, clothing stores, machinery manufacturers and wholesalers of durable goods all jumped by double- and triple-digit percentage points. Transactions inside furniture stores and department stores held steady.

    Read More »
  • Reid announces Boulder City Bypass funding

    August 25, 2011 | Las Vegas Review-Journal | Adrienne Packer

    Nevada Senate Majority Leader Harry Reid announced Wednesday that $2 million of a larger federal grant will be filtered to the state and spent on the proposed Boulder City Bypass.

    The funding is part of a $11.5 million grant for nine Nevada projects touted last week by U.S. Secretary of Transportation Ray LaHood.

    Read More »
  • MGM seeks to demolish unfinished Las Vegas tower

    August 25, 2011 | Inman News | Andrea V. Brambila

    The days of the Harmon Hotel tower in Las Vegas may be numbered -- even before the hotel welcomes a single guest.

    Begun during the Las Vegas high-rise condo boom, the hotel tower -- first proposed as a 49-story mixed-use condo and hotel project -- is an empty, if flashy, shell that its owner, MGM Resorts International, seeks to demolish.

    Read More »
  • Nevada agency targets California businesses

    August 22, 2011 | Las Vegas Review-Journal | Jennifer Robison

    The Nevada Development Authority appreciates shock value.

    But the local economic development nonprofit -- which once told highly taxed California businesspeople to "bend over and kiss your assets goodbye" -- aims for a different sort of surprise these days.

    Read More »
  • For money, buying may beat renting in LV, survey hints
    City joins Detroit, Mesa, Ariz., among markets where purchasing has advantage

    August 22, 2011 | Las Vegas Business Press | Hubble Smith

    Owning a home beats renting in nearly three-fourths of major U.S. cities, with Las Vegas ranked as the No. 1 city to buy versus rent, an August survey by San Francisco-based Trulia.com showed.

    Las Vegas has been at the top of the list for the past six months, according to Trulia's Summer 2011 Rent vs. Buy Index, which compares the median list price with the median rent for a two-bedroom apartment, condominium or townhouse in America's 50 largest cities.

    Read More »
  • Las Vegas economy: Always darkest before the dawn

    August 22, 2011 | Vegas Inc. | Tony Illia

    If Wall Street's rollercoaster ride of the past few weeks didn't give everyone in the Las Vegas business community pause for concern, we don't know what will. The terrifying question that was barely audible on our city's streets was: Could things really get worse? Before everyone overreacts, the answer, we believe, is no.

    The neon metropolis -- once immune to national economic trends, continuing to grow, build and thrive despite what happened elsewhere -- now faces tough times. The faltering and fragile economy is discussed at water coolers and luncheons across the valley, as nervous executives gauge colleagues and competitors for signs of business improvement or deterioration. Southern Nevada's dramatic building boom, which once defined the trends of the Southwest region, today underscores its collapse.

    Read More »
  • Local stocks tumble in market sell-off

    August 18, 2011 | Las Vegas Review-Journal | Howard Stutz

    The gaming sector wasn't spared in stock market's latest plunge.

    Share prices of the major casino operators and slot machine manufacturers declined Thursday in wake of the market's 419 point drop.

    Read More »
  • Jeremy Aguero

    August 18, 2011 | Las Vegas Seven | Matt Jacob

    The economic analyst on stock-market chaos, how much longer the recession will last and why he'd never bet against his hometown.

    Read More »
  • Commission approves Rhodes' planned project near Red Rock

    August 17, 2011 | Las Vegas Sun | Joe Schoenmann

    Hundreds of people showed up at the Clark County Government Center on Wednesday to protest a plan by Jim Rhodes to develop some 3,000 acres off Blue Diamond Road, near the Red Rock National Conservation Area.

    Read More »
  • County panel OKs developing Red Rock park

    August 17, 2011 | My News 3 |

    LAS VEGAS (AP) -- Clark County commissioners have tentatively approved a much-protested plan to develop about 3,000 acres near the Red Rock National Conservation Area outside Las Vegas.

    Read More »
  • Indicators say people still moving to Las Vegas Valley

    August 13, 2011 | Las Vegas Review-Journal | Jennifer Robison

    Las Vegas isn't slouching toward ghost-town status just yet.

    Despite an unemployment rate of 13.8 percent and an epic housing bust with nation-leading foreclosure rates, a couple of recent indicators hint that people continue to move to Southern Nevada.

    Read More »
  • Loyal taxpayers deserve $50 million worth of common sense

    August 11, 2011 | Las Vegas Review-Journal | Jane Ann Morrison

    Even though 2011 isn't over, Clark County Commissioner Larry Brown is in the running for dumbest explanation of the year by a political figure.

    Read More »
  • County officials to consider changes to Bali Hai lease

    August 10, 2011 | Las Vegas Review-Journal | Scott Wyland

    A revamped lease proposed for Bali Hai Golf Club would allow developer Bill Walters to pay $100,000 a year in rent and perhaps one day convert the Strip site into a giant retail, office and warehouse complex.

    Read More »
  • What is the Outlook for Construction Jobs?

    August 9, 2011 | 8 News Now | Calvert Collins

    LAS VEGAS -- The credit downgrade also meant more bad news for the Las Vegas construction industry. A lower credit rating usually means interest rates will go up, making new public and private development less likely.

    Read More »
  • Gaming Stocks Feel Effects of Volatile Market

    August 9, 2011 | 8 News Now | Aaron Drawhorn

    LAS VEGAS - The Bloomberg Las Vegas index shows the ups and downs, wins and losses in the recession-ravaged city. It provides a snapshot of the broader Las Vegas economy during the last five years.

    Read More »
  • Meet Jeremy Aguero: A stats guy opens up

    August 8, 2011 | Vegas Inc. | Erin Dostal

    Jeremy Aguero, principal at Applied Analysis, is one of the local go-to guys for data and statistics on real estate and the economy. This fourth-generation Las Vegan shares a bit of his personal life, and why he's stayed put, with VEGAS INC.

    Read More »
  • Local economists still optimistic

    August 6, 2011 | Las Vegas Review-Journal | Jennifer Robison

    First came $4-a-gallon gasoline.

    Then an earthquake and tsunami in Japan added to U.S. economic woes, disrupting supply chains and hobbling manufacturing and sales of durable goods.

    Read More »
  • Gaming stocks plummet with the rest

    August 5, 2011 | Las Vegas Review-Journal | Howard Stutz

    Gaming stocks, which seemed impervious to slumping market conditions in July while debate raged on in Congress over raising the federal debt ceiling, didn't survive Thursday's 513-point stock market plunge.

    Read More »
  • Gaming stocks up, unaffected by debt ceiling concerns

    July 30, 2011 | Las Vegas Review-Journal | Howard Stutz

    What debt ceiling?

    Gaming industry stocks seemed to be shielded from concern about raising the federal debt ceiling, an issue that has made investors in other sectors somewhat skittish.

    Read More »
  • Las Vegas apartment rent continues to slide

    July 29, 2011 | Vegas Inc. | Buck Wargo

    Las Vegas apartment rents fell slightly during the second quarter and occupancy levels remained the same, according to research firm Applied Analysis.

    Read More »
  • Las Vegas apartment rents, occupancy steady

    July 29, 2011 | Las Vegas Review-Journal | Hubble Smith

    Average monthly apartment rents in Las Vegas remained within a relatively tight range in the past year and occupancy rates appear to be firming up, business advisory firm Applied Analysis reports in its second-quarter market comparison.

    Read More »
  • Statewide jobless rate increases for first time in 2011

    July 22, 2011 | Las Vegas Review-Journal | Jennifer Robison

    It's still ugly on Nevada's jobs front.

    And it's likely to stay that way for a while, even as economic-development officials say they're working hard to draw new business to the Silver State.

    Read More »
  • TopShop, other retailers enter Las Vegas market despite sour economy

    July 19, 2011 | Las Vegas Review-Journal | Jennifer Robison

    The Las Vegas economy hasn't yet recovered from the beating it took during the nation's recession.

    Read More »
  • Sportsman's Warehouse returns to Southern Nevada

    July 12, 2011 | Vegas Inc | Buck Wargo

    A Utah-based retailer that closed two of its stores in Las Vegas after filing Chapter 11 bankruptcy is moving back into the market.

    Read More »
  • Visitor count & gaming revenue on the rise in Las Vegas

    July 11, 2011 | 13 Action News | Katie Crowther

    It looks like more people are heading to Las Vegas. Visitor numbers are on the rise, and those who come, are paying more to stay here.

    Read More »
  • Big gaming numbers for May at Nev. casinos

    July 11, 2011 | My News 3 | Ashley Conroy

    June's taxes can boast a $68 million dollar boost because of May's gaming revenues. The State Gaming Control Board's reports gambling revenues for May saw a 16 percent increase.

    Read More »
  • Gaming stocks suffer in June

    July 1, 2011 | Las Vegas Review-Journal | Howard Stutz

    Call it the June swoon.

    Gaming stocks nosedived during the month as investors became nervous about the trajectory and speed of any economic recovery.

    Read More »
  • Moody's report warns Vegas gaming companies susceptible to the national economy

    June 29, 2011 | My News 3 | Jerry Brown

    A prominent national bond rating house has issued a report that claims there could be trouble on the horizon for certain Vegas-based gaming corporations.

    Read More »
  • Nevada taxable sales rise in April; Clark County down

    June 27, 2011 | Las Vegas Review-Journal | Jennifer Robison

    Local consumers just can't shake the recession.

    New statistics on taxable sales, which measure purchases of tangible goods from Nevada's businesses and retailers, show continued softness in spending in Clark County.

    Read More »
  • Las Vegas joblessness ticks up in May

    June 17, 2011 | Las Vegas Review-Journal | Jennifer Robison

    Looks like employers are still skittish about hiring.

    Friday's jobless numbers from the state Department of Employment, Training and Rehabilitation -- as well as anecdotal evidence from local staffing agencies -- indicate weaker-than-expected seasonal hiring in late spring, as businesses backed off on adding workers.

    Read More »
  • Building jobs stay scarce

    June 15, 2011 | Las Vegas Review-Journal | Hubble Smith

    Journeyman carpenter Tim Powell hasn't had steady work in Las Vegas for three years now, but doesn't even think about moving back to California. He knows it's worse there.

    Read More »
  • Tourists in LV expected to spend more

    June 15, 2011 | Las Vegas Review-Journal | John G. Edwards

    The tourism economy has yet to recover from the Great Recession, but the Retail Association of Nevada predicts Las Vegas visitors will spend almost as much on shopping this summer as they did in the prebust summer of 2006.

    Read More »
  • Maloofs give up controlling interest in Palms casino

    June 15, 2011 | The Sacramento Bee | Dale Kasler

    The owners of the Sacramento Kings have surrendered controlling interest in their Las Vegas casino, in a deal that they say improves their finances considerably.

    Read More »
  • Las Vegas Sands Stays On Top With Macau Muscle

    June 15, 2011 | Forbes | Blake Wilson

    China's economic growth since 2000 has been blistering, with GDP expanding at annual rates near or above 10% for most of the past decade.

    Read More »
  • Politics, juice and the local bus contract

    June 9, 2011 | Las Vegas Review-Journal |

    Clouds of suspicion once again hang over Grand Central Parkway. This morning's meeting of the Regional Transportation Commission is proof of the importance of political juice in Southern Nevada government contracts.

    Read More »
  • Las Vegas land prices down 83 percent from 2007 peak, report says

    June 7, 2011 | Vegas Inc. | Buck Wargo

    Land transactions remain scarce in Las Vegas, but when deals get done, the price apparently has yet to find its bottom.

    Read More »
  • Gaming index climbs in May

    June 1, 2011 | Las Vegas Review-Journal | Howard Stutz

    A smattering of good news coming from the gaming industry during May boosted the spirits of investors.

    Read More »
  • Construction shows some life in sales tax figures

    May 24, 2011 | Las Vegas Review-Journal | Jennifer Robison

    Well, finally.

    After three years of annual declines, taxable sales in Nevada's construction sector rose year over year in March, the state Department of Taxation reported Tuesday.

    Read More »
  • Tavern owners urge lawmakers to clear air on smoking ban

    May 23, 2011 | Las Vegas Review-Journal | Benjamin Spillman

    CARSON CITY -- Tavern owners told state legislators Monday that smokers should no longer be forced to choose between chicken fingers and cigarettes.

    Read More »
  • Democrats' plan would tax services

    May 21, 2011 | Reno Gazette-Journal | Ray Hagar

    Dee Brochon's Split Enz beauty shop has been in business in Sparks for decades. She has seen her long-time clientele mature into white-haired ladies.

    Read More »
  • Nevada labor market stabilizing as jobless rate falls

    May 20, 2011 | Las Vegas Review-Journal | Jennifer Robison

    Nevada's official jobless rate fell for the fourth straight month in April, but recent gains in another key unemployment measure hint that full recovery in the state's jobs market may be years away.

    Read More »
  • Bus contract fight may end today

    May 19, 2011 | Las Vegas Review-Journal | Adrienne Packer

    Accusations and finger-pointing between rank-and-file workers and their union leaders as well as between the two competing international transit companies should be put to rest today when the Regional Transportation Commission chooses the company that will manage its bus system.

    Read More »
  • First Transit wins Las Vegas Valley bus contract

    May 19, 2011 | Las Vegas Review-Journal | Adrienne Packer

    Lengthy discussions about who should land a lucrative bus contract Thursday centered around baseball analogies and in the end, it was First Transit that smacked a walk-off home run in extra innings on what appeared to be Veolia's home turf.

    Read More »
  • New company gets $83 million contract to operate bus system

    May 19, 2011 | Las Vegas Sun | Kyle Hansen

    The Regional Transportation Commission today approved a controversial contract to give control of its bus system to a new company.

    Read More »
  • Apartment rents in Las Vegas rise along with occupancy rates

    May 17, 2011 | Vegas Inc. | Buck Wargo

    Las Vegas apartment occupancies rose during the first quarter and that helped to increase rents, according to numbers released today by a research firm.

    Read More »
  • Sec. of state data indicates job stabilization

    May 17, 2011 | Daily Sparks Tribune | Tribune Staff

    CARSON CITY -- While anecdotal reports and selected economic indicators suggest economic conditions might be improving, the latest data sourced to the Nevada secretary of state's office confirms the worst of the declines are in the rear view mirror and potential for future expansion could be on the horizon.

    Read More »
  • Retailers want online stores to start collecting sales taxes
    Amazon.com threatens to reconsider Nevada investments

    May 14, 2011 | Las Vegas Sun | David McGrath Schwartz

    CARSON CITY — Brick-and-mortar retailers want online stores in Nevada to start collecting sales taxes, causing one Internet giant to threaten to reconsider its investment in warehouses in the state.

    Read More »
  • Rent here? Who can afford it?

    May 12, 2011 | Las Vegas Review-Journal | Jennifer Robison

    Las Vegas housing, unaffordable?

    It's been a while since we've heard that one.

    But an affordability problem is exactly what Las Vegas has, according to a new study. The National Low Income Housing Coalition's "Out of Reach 2011" report says the city's average apartment rent outstrips the average wage earner's income by a significant amount.

    Read More »
  • High-End Gym Opens in Summerlin Area

    May 11, 2011 | 8 News Now | Melissa Duran

    LAS VEGAS -- Summerlin is getting a huge addition to its community this week. Lifetime Athletic is opening their doors on Friday to their members. While some say the economy won't support another gym, this company disagrees.

    Read More »
  • Choices will have to be made, but what about the firefighters?

    May 10, 2011 | Las Vegas Sun | J. Patrick Coolican

    For several months, I've argued that Gov. Brian Sandoval's plan to balance the state's budget by cutting funding for teachers, professors, social programs and health care providers would be shortsighted and deeply damaging for all of us, not just recipients of those government services.

    Read More »
  • Facing the Future
    Jeremy Aguero Discusses the Opportunities and Challenges Ahead

    May 6, 2011 | Business Voice | Las Vegas Chamber of Commerce

    Over the past several years, Jeremy Aguero, a principal analyst with Applied Analysis, has provided economic information and insight to both the public and private sectors. As the 2011 Nevada Legislature enters its final stretch, Las Vegas Chamber of Commerce Chairman Michael J. Bonner sits down with Aguero to discuss Nevada's economic outlook and the need for reform.

    Read More »
  • Nevada Democrats release plan to extend taxes

    May 5, 2011 | Las Vegas Sun | The Associated Press

    Democratic legislative leaders on Thursday rolled out a tax proposal they said is needed to avoid deep cuts to education and social services and would put Nevada's tax structure on more solid footing for the future.

    Read More »
  • Democrats out to build support for alternative to governor's budget plan

    May 5, 2011 | Las Vegas Sun | Anjeanette Damon

    CARSON CITY — The Legislature's two Democratic leaders did their best Thursday to convince a conference hall full of skeptical business leaders that they have developed a sound plan to not only fix the budget deficit but stabilize Nevada's tax structure.

    Read More »
  • Democrats unveil tax, spending plans for Nevada

    May 5, 2011 | Las Vegas Review-Journal | Benjamin Spillman

    CARSON CITY -- Nevadans could pay more for everything from plumbing to car repairs, from legal services to yard upkeep to raise money for schools and social services under a $1.5 billion plan detailed by Democratic lawmakers Thursday.

    Read More »
  • Las Vegas is for sale in commercial real estate auction

    May 4, 2011 | Action 13 News | Makayla Zurn

    Las Vegas, NV (KTNV) -- The foreclosure crisis in Nevada has affected not only homes but local businesses and strip malls. Now, many commercial real estate companies are going up for auction in Las Vegas.

    Read More »
  • Las Vegas Valley bus routes caught in contract bind

    May 1, 2011 | Las Vegas Review-Journal | Adrienne Packer

    Times are tough when you can't afford a bus ride.

    Read More »
  • Gaming stock index jumps in April

    April 30, 2011 | Las Vegas Review-Journal | Howard Stutz

    The major publicly traded casino operators and slot machine manufacturers closed out an upbeat April.

    Eight of the 10 companies followed by Las Vegas-based financial consultant Applied Analysis for the company's Gaming Index showed increases in their average daily stock prices. The results helped the index jump more than nine points in the month.

    Read More »
  • Maloofs' woes an issue for NBA

    April 30, 2011 | The Sacramento Bee | Dale Kasler

    Their wallets thinned by recession and debt, the Maloofs believe moving the Sacramento Kings to Anaheim would be a financial lifesaver.

    Read More »
  • Times Square inspired project

    April 27, 2011 | Las Vegas Business Press | Tony Illia

    A $100 million retail and restaurant inspired by New York's Times Square complex is under way on the Strip.

    Read More »
  • Las Vegas economy perks up a bit, taxable sales figures show

    April 27, 2011 | Las Vegas Review-Journal | Jennifer Robison

    OK, you can go ahead and breathe that sigh of relief.

    Sort of.

    Read More »
  • Wealthy Leaving Las Vegas Mansions as Foreclosure Pain Spreads

    April 26, 2011 | Bloomberg | John Gittelsohn

    Nicolas Cage, the Oscar-winning star of "Leaving Las Vegas," bought a seven-bedroom home with a panoramic view of the city's casino-lined Strip in 2006 for $8.5 million. By January 2010, it was in foreclosure.

    Read More »
  • Business picking up, but commercial and retail space not filling

    April 23, 2011 | Vegas Inc. | Buck Wargo

    Retail sales picked up in Las Vegas in 2010, but that isn't showing up in demand for retail space in 2011, according to research firms tracking the market.

    Read More »
  • Las Vegas retail market worsens as vacancy rate rises

    April 20, 2011 | Las Vegas Review-Journal | Hubble Smith

    The retail market in Las Vegas worsened in the first quarter as the vacancy rate rose to 12.3 percent, up from 10 percent in the same quarter a year ago, RGC Economics consulting firm reported.

    Read More »
  • Las Vegas jobless rate falls to 13.3 percent in March

    April 18, 2011 | Las Vegas Review-Journal | Jennifer Robison

    So this is what the battle for economic recovery looks like in Nevada.

    As an army of food servers, lawyers, nurses and accountants marches the Silver State toward employment stability, the foot soldiers in construction, banking and manufacturing have gone AWOL.

    Read More »
  • Slot machine makers' mass of misery

    April 17, 2011 | Las Vegas Review-Journal | Howard Stutz

    If you want to understand the tough going for slot machine manufacturers, just ask the people running the companies.

    Bally Technologies and WMS Industries reduced their quarterly earnings forecasts. In separate statements, the companies said casino operators are not buying new slot machines and gaming equipment. Capital expenditures are at historically low levels.

    Read More »
  • Builders snap up lots around LV
    Observer sees deals as sign that home construction will pick up

    April 11, 2011 | Las Vegas Business Press | Tony Illia

    In an encouraging sign for Southern Nevada, homebuilders are slowly replenishing lot inventories in anticipation of future construction, Colliers International said.

    Many area builders shed their land holdings to cut costs when the real estate boom turned to bust. But, an uptick in recent home sales coupled with bargain-priced land has builders once again buying dirt.

    Read More »
  • State funding solutions unlikely to clear Sandoval hurdle

    April 8, 2011 | Las Vegas Review-Journal | John L. Smith

    Call it wishful thinking.

    Southern Nevada citizens searching for sources of revenue to save such extravagances as public school teachers and basic social services crammed into the tiny conference room on Thursday morning to watch a televised hearing of the state Assembly Taxation Committee.

    Read More »
  • Casino company stocks suffer in March

    April 1, 2011 | Las Vegas Review-Journal | Howard Stutz

    Recessionary fears caused gaming stocks to tumble in March and skittish investors grew concerned that high gasoline costs could keep casino customers from traveling.

    Only two gaming companies out of the 10 casino operators and slot machine manufacturers charted by Las Vegas-based financial consultant Applied Analysis saw an increase in their average daily stock prices during the month.

    Read More »
  • Analyst optimistic despite dismal rankings for Nevada

    March 31, 2011 | Las Vegas Review-Journal | Hubble Smith

    Counting Washington, D.C., we're 51st in the nation in education and somewhere around 51st in unemployment, foreclosures, public transportation and health care.

    Even our baseball team is named the Las Vegas 51s.

    Read More »
  • Annual Report Highlights Las Vegas/ Woes

    March 31, 2011 | 8 News Now |

    LAS VEGAS-- A new report says southern Nevada residents are most concerned about jobs and education. The annual Las Vegas Perspective report, which is an economic profile of Southern Nevada, was released Thursday.

    The annual Las Vegas Perspective report shows nearly 90 percent of Las Vegas area residents are concerned about the job market, a 9 percent increase from 2009.

    Read More »
  • 2011 Las Vegas Perspective Preview

    March 31, 2011 | 8 News Now | Patranya Bhoolsuwan

    A comprehensive economic and demographic profile of Southern Nevada comes out today. 8 News Now Patranya Bhoolsuwan tells us what we can expect for our region for the next...

    Read More »
  • Numbers reveal mixed picture on Las Vegas economy
    Official says "the worst of the economy is behind us"

    March 31, 2011 | Las Vegas Sun | Dave Berns

    Three of every five Southern Nevadans are "very concerned" about holding onto a job or finding work while another 29 percent are "somewhat concerned" about one or the other, according to numbers released today by Las Vegas-based Applied Analysis.

    Read More »
  • Report: Boulder City average household income $76,307

    March 31, 2011 | Las Vegas Sun | Sun Staff

    In Boulder City, the average household income is $76,307, slightly higher than the average Las Vegas Valley income of $73,059, according to numbers released Thursday by Las Vegas-based Applied Analysis.

    Read More »
  • Report: Henderson's Anthem area richest in the valley

    March 31, 2011 | Las Vegas Sun | Sun Staff

    Henderson boasts the Las Vegas Valley ZIP code with the highest average household income, according to numbers released Thursday by Las Vegas-based Applied Analysis.

    Read More »
  • Report: Households in ZIP code 89031 wealthiest in North Las Vegas

    March 31, 2011 | Las Vegas Sun | Sun Staff

    Residents of 89031 are making the most bank, on average, of North Las Vegas residents.

    Read More »
  • Report: Households in ZIP code 89144 wealthiest in Las Vegas

    March 31, 2011 | Las Vegas Sun | Sun Staff

    The average household income for the Las Vegas Valley is $73,059, according to numbers released Thursday by Las Vegas-based Applied Analysis.

    Read More »
  • Report: Rhodes Ranch area has highest household income in south, southwest valley

    March 31, 2011 | Las Vegas Sun | Sun Staff

    The highest average household income for southern and southwest valley ZIP codes was $108,372 in 89148 -- the ZIP code that includes Rhodes Ranch, according to numbers released Thursday by Las Vegas-based Applied Analysis.

    Read More »
  • Report: Valley's average household income $73,059

    March 31, 2011 | Las Vegas Sun | Sun Staff

    The average household income for the Las Vegas Valley is $73,059, according to numbers released Thursday by Las Vegas-based Applied Analysis.

    Read More »
  • Southern Nevadans have education at the top of their list

    March 31, 2011 | 13 Action News |

    Las Vegas, NV (KTNV)- The 31st Annual Las Vegas Perspective is released, and with some surprising data.

    Read More »
  • Annual marketing report highlights Las Vegas' woes

    March 31, 2011 | 13 Action News |

    LAS VEGAS (AP) -- A new report says southern Nevada residents are increasingly alarmed about the state's sluggish economy.

    Read More »
  • Report: Non-Gaming Business Vital To Vegas Future
    2011 Las Vegas Perspective Released

    March 31, 2011 | Fox 5 Las Vegas |

    LAS VEGAS -- Unlike the boom years, the cure to what ails Las Vegas won’t come with the opening of another mega-resort.

    That’s according to the 2011 Las Vegas Perspective, an annual report of the city’s demographics, economic and cultural statistics.

    Read More »
  • Average Income Highest In Henderson ZIP Code
    2011 Las Vegas Perspective Released

    March 31, 2011 | Fox 5 Las Vegas |

    LAS VEGAS -- Residents in Anthem bring home the highest salaries in southern Nevada, according to the just-released 2011 Las Vegas Perspective.

    Read More »
  • Las Vegas Perspective

    March 30, 2011 | KNPR's SON |

    The economy in Southern Nevada has been bumping along the bottom for a long time. Much longer than most people thought. But is the end in sight? Can we at least see some light at the end of the tunnel? Economist and business consultant Jeremy Aguero gives us a preview of the Las Vegas Perspective - the definitive book on population, housing and money in Southern Nevada.

    Read More »
  • Consumers upbeat; taxable sales rise in January

    March 29, 2011 | Las Vegas Review-Journal | Jennifer Robison

    If pasta jambalaya, peppercorn filet or lobster pot pie sound good to you, you're not alone.

    More consumers are snapping up the gourmet dishes at March Bacchus, a French bistro and wine shop in Desert Shores. Sales at March Bacchus have improved 10 percent over last year's sales, said Jeffrey Wyatt, the restaurant's proprietor.

    Read More »
  • Analysts Worry Rising Gas Prices Could Hinder Las Vegas Recovery

    March 28, 2011 | 8 News Now | Aaron Drawhorn

    LAS VEGAS - Las Vegas is known for its extravagance and excess, but more Las Vegas tourists are spending less on gambling.

    Read More »
  • Economist: NV can gain millions with online poker

    March 25, 2011 | Bloomberg Businessweek | Michelle Rindels

    An economist said ailing Nevada stands to gain millions in tax revenue if it regulates and develops the multibillion-dollar online poker industry, but detractors -- including some of the most powerful Las Vegas casinos -- called the bill on the table premature and said it could chew away at brick-and-mortar businesses.

    Read More »
  • Economists say Nevada tax structure hasn't changed

    March 25, 2011 | Bloomberg Businessweek | Sandra Chereb

    Nevada's tax structure, heavily reliant on tourism and casino taxes paid by visitors, is a decades old story that hasn't changed and will continue to pose budgeting problems, economists told two separate panels of state lawmakers Thursday.

    Read More »
  • The Return to the Silver State

    March 25, 2011 | Nevada Business Magazine | Doresa Banning

    Tourism in the Silver State, which was hard hit during the peak of the recession, is improving, experts say.

    "I wouldn't say it's healthy, I wouldn't say it's recovered or robust. All of those would be an over-exaggeration," said Jeremy Aguero, principal analyst with Applied Analysis, a Las Vegas-based consulting and advisory services company.

    Read More »
  • Economists: Despite decades of talk, Nevada tax structure unchanged

    March 25, 2011 | Las Vegas Review-Journal | Sandra Chereb

    CARSON CITY -- Nevada's tax structure, heavily reliant on tourism and casino taxes paid by visitors, is a decades-old story that hasn't changed and will continue to pose budgeting problems, economists told two separate panels of state lawmakers Thursday.

    Read More »
  • Internet poker supporters point to tax dollars; opponents question legality

    March 24, 2011 | Las Vegas Review-Journal | Howard Stutz

    Despite the promises of jobs, increased tax dollars and the potential of technology businesses locating to Nevada, a lobbyist for the casino industry told lawmakers Thursday one important aspect would keep them from approving Internet poker in the Silver State.

    Read More »
  • Lawmakers weigh bill to bring online poker to Nevada

    March 24, 2011 | Las Vegas Sun | Cy Ryan

    CARSON CITY -- Opening the door for online poker in Nevada could bring jobs and money to the state at a time when the economy is hurting, supporters said today.

    The Senate Judiciary Committee heard three hours of testimony on a bill sought by PokerStars, a company that operates Internet poker games. No action was taken.

    Read More »
  • Caesars, Wynn up ante for legalizing online poker bets
    Nevada regulators approve overseas deal for one; 2nd partners to lobby Congress

    March 24, 2011 | msnbc.com news services |

    LAS VEGAS -- Two Las Vegas-based casino companies Thursday upped the ante in their gambits to get online gambling legalized in the United States.

    Read More »
  • Internet poker supporters point to tax dollars; opponents question legality

    March 24, 2011 | Las Vegas Review-Journal | Howard Stutz

    Despite the promises of jobs, increased tax dollars and the potential of technology businesses locating to Nevada, a lobbyist for the casino industry told lawmakers Thursday one important aspect would keep them from approving Internet poker in the Silver State.

    Gambling on the Internet is illegal in the United States.

    Read More »
  • State corporate filings hint that recovery is under way

    March 21, 2011 | Northern Nevada Business Weekly | John Seelmeyer

    In late 2005, at least a year before other economic indicators in Nevada began to flash red lights, the number of new corporations that filed paperwork with the Nevada Secretary of State began falling sharply.

    Now that a newly created index shows that the number of new filings has begun to turn upward, Secretary of State Ross Miller’s staff hopes the tool proves prescient in upturns as it did during the downturn.

    Read More »
  • Valley's economic output rises, but other indicators slumping

    March 14, 2011 | Las Vegas Review-Journal | Jennifer Robison

    New numbers from a national research group show a mixed bag of economic news for Las Vegas.

    Brookings Mountain West's Mountain Monitor, which is being released to day, revealed some positive local trends, but it also found that high un employment continues to bedevil Southern Nevada.

    Read More »
  • Report: Economic Growth in Nevada

    March 11, 2011 | Nevada News & Views | Sean Whaley

    While much of the economic news about Nevada is gloom and doom, a new report prepared for Secretary of State Ross Miller shows new business filings in the last quarter of 2010 turned positive for the first time since mid-2006.
    The turnaround suggests the worst of the economic slowdown may be behind us, according to the report.

    Read More »
  • Las Vegas unemployment falls to 13.7 percent

    March 10, 2011 | Las Vegas Review-Journal | Jennifer Robison

    A smaller labor pool in Nevada might make for a lower unemployment rate, but it won't pave the way for long-term economic health, experts said Thursday.

    The state Department of Employment, Training and Rehabilitation reported that joblessness in the Silver State eased off of its record levels from December to January, dropping from 15.1 percent to 13.7 percent in Las Vegas -- the first time since March 2010 that local unemployment fell below 14 percent -- and from 14.9 percent to 14.2 percent statewide.

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  • New business filings in Nevada increase

    March 10, 2011 | Las Vegas Review-Journal | Hubble Smith

    New-business-entity filings in Nevada rose for the first time since mid-2006, suggesting that the worst of the economic decline may be in the "rearview mirror," Secretary of State Ross Miller said Thursday.

    Read More »
  • Bumper crop of billionaires for Southern Nevada

    March 10, 2011 | Las Vegas Review-Journal | Jennifer Robison

    The past year has been good to billionaires with business ties to Las Vegas.

    Consider Las Vegas Sands Corp. owner Sheldon Adelson, Fontainebleau owner Carl Icahn and Wynn Resorts Ltd. head Steve Wynn, who saw their net worth rise a collective $16.7 billion, according to Wednesday numbers from Forbes magazine's list of the world's billionaires.

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  • Economic indicators flat in Las Vegas, on the rise nationwide

    March 9, 2011 | Las Vegas Review-Journal | Hubble Smith

    The Southern Nevada Index of Leading Economic Indicators remained stable at 122.56 in February with six of the 10 data series contributing positively to the index, the UNLV Center for Business and Economic Research reported Tuesday.

    The index is down 0.3 percent from 122.58 the previous month and down from 125.78 in February 2010. In contrast, the U.S. leading economic index grew by 0.8 percent in February.

    Read More »
  • Southwest Airlines matches other fliers' fare increases as oil prices soar

    March 8, 2011 | Las Vegas Review-Journal | David Koenig

    DALLAS -- Southwest Airlines Co. has joined a sweeping increase of $10 in the price of many domestic round-trip airfares, citing the need to offset high fuel prices.

    Southwest's action may have ensured success for a price hike by major airlines that seemed to be faltering. Southwest carries more U.S. passengers than any airline and wields great influence over prices.

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  • Local retail market shows year-end improvement
    Demand for space in fourth quarter was highest in more than year

    March 7, 2011 | Las Vegas Business Press | Tony Illia

    Southern Nevada's hard-hit retail market saw a year-end uptick in 2010, Colliers International reported, with 62,240 square feet of positive net absorption in the fourth quarter. It was the most demand for space in more than a year. Signs point to a stabilizing economy and improved consumer confidence, as state taxable retail sales climbed 11.2 percent in December, the Retail Association of Nevada said.

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  • Economic rebound in Nevada could run out of gas

    March 7, 2011 | Las Vegas Review-Journal | Benjamin Spillman

    CARSON CITY -- Gov. Brian Sandoval might want to talk to people like Tony Genevese before betting Nevada's future on a gambling and tourism revival.

    Turmoil in the Middle East is driving up the price of oil and threatening to undermine Nevada's fragile recovery from a deep recession that has wiped out nearly 200,000 jobs and evaporated state dollars set aside for schoolchildren, low-income parents and disabled residents.

    Read More »
  • Coolican: Time for Southern Nevada to stand up to northern pols
    Southern Nevada's always been stiffed, budget-wise; now look where power center's roots are

    March 4, 2011 | Las Vegas Sun | J. Patrick Coolican

    The War of Northern Aggression is a repugnant phrase, used by traitorous Confederates to create the fiction of a just cause in the face of the horrible war the nation endured to preserve the union and end slavery.

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  • Government workers' pay
    Simply cutting employees' compensation won't solve the budget problems

    March 2, 2011 | Las Vegas Sun | Mike Alastuey

    The Las Vegas Chamber of Commerce on Monday released its latest report on public employee pay, once again finding that government workers' pay levels are above average in Nevada. Local and state governments' wages combined are 13 percent above the national average, and these public employees are the ninth-highest paid in the country.

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  • Nevada public employees ninth highest paid in nation

    February 28, 2011 | Las Vegas Review-Journal | Ed Vogel

    CARSON CITY -- The Las Vegas Chamber of Commerce has found what anyone who has been following the saga of firefighters in Clark County abusing their sick leave already knew: Firefighters are paid more in Nevada than almost anyplace in the nation.

    Read More »
  • State retail sales seen to rise 4 percent in '11

    February 28, 2011 | Las Vegas Review-Journal | Jennifer Robison

    Retail sales in Nevada seem to have ended their recession-era slump, with a statewide trade group projecting solid growth in spending in 2011.

    Read More »
  • February delivers mixed results for gaming stocks

    February 28, 2011 | Las Vegas Review-Journal | Howard Stutz

    February provided a mixed bag of results for the gaming industry.

    Just four of the 10 publicly traded casino operators and slot machine manufacturers charted by Las Vegas-based financial adviser Applied Analysis saw increases in their average daily stock prices during the month.

    Read More »
  • Report: Nevada Public Workers Among Highest-Paid

    February 28, 2011 | Fox 5 Las Vegas | Firefighter Salaries Top List

    LAS VEGAS -- Nevada's public employees are collecting salaries beyond what the state can afford to pay, according to a study commissioned by the Las Vegas Chamber of Commerce.

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  • Nevada Public Workers Among Highest Paid, Study Finds

    February 28, 2011 | 8 News Now | Jamie Guirola

    LAS VEGAS - Firefighters, water supply employees and court system workers in Nevada all make top dollar according to a state-to-state comparison of public employee salaries. State workers in Nevada are, on average, the 11th highest paid in the country. Local workers are the 9th highest paid.

    Read More »
  • Report: Nevada public employees among highest paid in US

    February 28, 2011 | 13 Action News |

    Las Vegas, NV (KTNV) – The Las Vegas Chamber of Commerce has released a new report that shows public workers in Nevada rank near the top nationally when it comes to what they make.

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  • Fourth-quarter valley land values dip 30 percent
    Foreclosures, diminished demand drive down property prices

    February 28, 2011 | Las Vegas Business Press | Tony Illia

    Distressed land sales and a sluggish economic recovery diminished local property values in 2010, Las Vegas-based business advisory firm Applied Analysis reported.

    Read More »
  • Las Vegas casino revenue a mixed bag

    February 25, 2011 | My News 3 | Matt Kozar

    Gaming is Las Vegas' lifeblood and the good news is industry analysts are predicting 2011 will be a good year for the casinos.

    This past month, casino operators have been posting their earnings for 2010. The freefall has stopped for some casinos, but not for others.

    Read More »
  • A City for Rent
    Owner-occupied homes are becoming the exception instead of the rule. Is it "there goes" or "here comes" the neighborhood?

    February 24, 2011 | Vegas Seven | Brian Sodoma

    It's quiet here, as it probably was on most mornings, even during the real estate boom.

    This is South Pointe, a Henderson subdivision near the intersection of Wigwam and Green Valley parkways built in the 1990s. But, like many other quiet places in the Las Vegas Valley these days, the peace can make you nervous. Is this a good quiet or a bad quiet? One in which real estate signs swinging on a gusty day and the occasional car zooming by whisper "vacancy"? Or is this just a nice neighborhood with a few landscape blemishes as a result of the foreclosure crisis?

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  • Construction industry workforce in Nevada shrank 19.5 percent in 2010

    February 24, 2011 | Las Vegas Sun | Buck Wargo

    The Nevada construction industry shed 19.5 percent of its workforce in 2010 and faces additional challenges in 2011 with builders not undertaking any significant projects, according to a report released today by the Associated General Contractors of Southern Nevada.

    Read More »
  • Taxable sales surge 11.2 percent

    February 23, 2011 | Las Vegas Review-Journal | Jennifer Robison

    Looks like the utilities business is pretty strong in Nevada's hinterlands.

    It's tough to figure out exactly why -- it could be big equipment purchases for anything from a solar power plant to a water-pumping station -- but utilities-related purchases in two rural counties spurred major gains in the Silver State's taxable sales in December.

    Read More »
  • Western National bullish on LV rental market
    A new player sees opportunities in turnkey services and B class renters

    February 21, 2011 | Las Vegas Business Press | Tony Illia

    Western National Property Management is not flustered by the multitude of bank-owned properties available for rent in Las Vegas. The multifamily arm of Western National Group recently opened an office at 3571 E. Sunset Road in Las Vegas.

    Read More »
  • Governor, lawmakers need the same budget script

    February 20, 2011 | Las Vegas Sun |

    The document could not have a more prosaic name: "Public Finance Report."

    But its title belies its utility, which is as a kind of fiscal Esperanto, providing what so far has not come from the capital, an opportunity for all parties to speak the same language on Gov. Brian Sandoval's budget.

    Read More »
  • Outlook bright for Las Vegas apartments, national firm says

    February 14, 2011 | Las Vegas Sun | Buck Wargo

    A national research firm is bullish on the recovery of Las Vegas' economy and suggests that will help the region's apartment market.

    California-based Marcus & Millichap said the gradual recovery of the gaming industry will lower vacancy rates and increase rents in 2011.

    Read More »
  • Preview Las Vegas speakers explain steps to area's economic recovery

    February 11, 2011 | Las Vegas Review-Journal | Hubble Smith

    An eerie, disturbingly uncomfortable hush fell over the audience Friday at Preview Las Vegas 2011 after speaker Jeremy Aguero finished his tale about the rise and fall of a great economy.

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  • Las Vegas visitor numbers will grow in 2011, tourism official says

    February 11, 2011 | Las Vegas Sun | Buck Wargo

    The worst of the economic slowdown is behind Las Vegas and 2011 will mark the beginning of a recovery, according to one analyst and the head of the city's tourism and convention industry.

    Read More »
  • To Sell a Condo
    How do you move high-rise units in this market? By being different

    February 10, 2011 | Vegas Seven | Brian Sodoma

    Dean Martin and Jerry Lewis made us laugh. But today, the building at the intersection of the streets named after them is another of the Valley's many high-rise real estate casualties.

    Its owner, however, is banking on more smiles in the future.

    Read More »
  • Las Vegas apartment market ranked near bottom

    February 8, 2011 | Las Vegas Review-Journal | Hubble Smith

    Las Vegas ranked next to last in a national apartment index compiled by real estate investment firm Marcus & Millichap.

    Read More »
  • Apartment Demand Not Meeting Supply

    February 8, 2011 | 8 News Now | Calvert Collins

    LAS VEGAS -- Even with the high number of foreclosures in Las Vegas, not as many people are turning to apartments.

    A brand new complex at I-215 and Sunset Road has 450 units and is only three months old. But with so much supply, new and used, demand can't keep up.

    Read More »
  • Station Casinos Rebranding After Rough Years

    February 7, 2011 | 8 News Now | Nathan Baca

    LAS VEGAS -- Station Casinos says they are launching Nevada's largest gaming advertising campaign. Stations is rebounding from bankruptcy, and the company hopes their "We Love Locals" push will bring some love, and profits, their way.

    Read More »
  • Retail market still struggling in Southern Nevada

    February 6, 2011 | Las Vegas Review-Journal | Hubble Smith

    Drive by just about any shopping center in Las Vegas and you'll see shuttered storefronts, going-out-of-business sales and banners advertising space available for lease.

    Read More »
  • Casino operators bolster gaming index in January

    February 1, 2011 | Las Vegas Review-Journal | Howard Stutz

    A nice start.

    Investors had a positive outlook toward the gaming industry during January. The average daily stock prices for seven of the 10 casino companies and slot machine manufacturers charted by financial consultant Applied Analysis for its gaming index trended upward for the month.

    Read More »
  • Las Vegas sheds 10,700 builders in 2010

    February 1, 2011 | Las Vegas Review-Journal | Jennifer Robison

    Las Vegas led the nation in construction job losses in 2010, and national and local experts alike say the city's building slump may not be over.

    Read More »
  • Booze sales, nightclub scene defy recession to boost casinos

    February 1, 2011 | Las Vegas Sun | Liz Benston

    What recession? Those opulent nightclubs are paying off for the Strip with their pricey bottles of booze.

    The latest figures for 2010 show Strip partyers are running up huge bar tabs, offering a shot of hope to the otherwise gloomy numbers.

    Read More »
  • That Empty Feeling
    Sour economy, slow consumer spending spur spate of retail vacancies valleywide

    January 31, 2011 | Las Vegas Business Press | Hubble Smith

    Drive by just about any shopping center in Las Vegas and you'll see shuttered storefronts, going-out-of-business sales and banners advertising space available for lease.

    Read More »
  • Las Vegas industrial market keeps losing steam

    January 28, 2011 | Las Vegas Review-Journal | Hubble Smith

    The Las Vegas industrial market continued to weaken in the fourth quarter as pricing declined and vacancies increased, business advisory firm Applied Analysis reported.

    Read More »
  • Nevada taxable sales continue increase

    January 27, 2011 | Las Vegas Review-Journal | Jennifer Robison

    Even as Nevada's taxable sales income rose for the fifth straight month, local retailers and economic analysts said Thursday that they're not ready to predict a banner sales year in 2011.

    Read More »
  • Web sites are just as valuable real estate as buildings

    January 24, 2011 | Las Vegas Sun | Jeremy Aguero and Jake Joyce

    When most of us think of the commercial real estate market, we think of office buildings, strip centers and local malls. We think of the 7-Eleven down the street, our doctor's office around the corner or the mammoth Costco seen from the freeway.

    Read More »
  • Public employees to defend benefits

    January 24, 2011 | Las Vegas Review-Journal | Benjamin Spillman, Laura Myers, Steve Tetreault

    Public employees in Nevada are keenly aware of a movement to further trim costs associated with their retirement benefits, and they're ready to push back.

    They've founded a group called Nevadans for Nevada and have hired lobbyist Dave Kallas for the 2011 Legislature.

    Read More »
  • Failed condo properties see second life as apartments
    Corus Bank assets bought, repositioned

    January 24, 2011 | Las Vegas Business Press | Tony Illia

    A raft failed of local high-rise condominium developments is getting a second life as apartments.

    An investment group led by Starwood Capital Group and the private equity firm TPG acquired ownership stakes in several local high-rise properties in late 2009 through the Federal Deposit Insurance Corp.'s asset auction of the now defunct Chicago-based Corus Bank.

    Read More »
  • Is Brian Sandoval's "shared-sacrifice" budget the solution to state's economic woes?

    January 23, 2011 | Las Vegas Sun | Anjeanette Damon, Michael Squires

    On Monday, Gov. Brian Sandoval will deliver his first State of the State address.

    It promises to be equal parts optimistic vision statement "the new governor has promised Nevada will return to its former glory within three years" and tacit telling of hard truths" he will simultaneously present a budget that he intends to balance without new taxes and despite a $2.2 billion deficit to maintain current services. This, he says, will be accomplished through "shared sacrifice."

    Read More »
  • Experts: Lawmakers have 'significant' gap to close to solve budget crisis

    January 22, 2011 | Las Vegas Review-Journal | Laura Myers

    There's no quick or easy fix. Or so said four leading economic and tax experts ahead of Monday's release of Gov. Brian Sandoval's budget.

    Read More »
  • Las Vegas unemployment rate climbs to record 14.9 percent

    January 21, 2011 | Las Vegas Review-Journal | Jennifer Robison

    OK, so Nevada's job markets ended on an especially sour note in December, reaching 14.5 percent unemployment statewide and a record 14.9 percent in Las Vegas.

    Read More »
  • Ford Motor's closing latest in back-office job loss

    January 21, 2011 | Las Vegas Review-Journal | Hubble Smith

    The loss of some 200 jobs at Ford Motor Credit's Henderson office underscores the need for any sort of job creation in Southern Nevada, even in an industry that once drew scorn for its relatively low pay scale.

    Read More »
  • Needed reforms may do little in short run

    January 20, 2011 | Las Vegas Review-Journal | Jeremy Aguero

    On Feb. 7, the Nevada Legislature will convene its 76th regular session. The issues facing lawmakers are daunting. Nevada leads the nation in unemployment, foreclosures and bankruptcy. It is $2.2 billion short of maintaining existing education, public safety and health care programs. It has a lower high school graduation rate than any other state in the union.

    Read More »
  • Groups seek higher taxes on tobacco and gasoline

    January 20, 2011 | Las Vegas Sun | Cy Ryan

    CARSON CITY -- Health advocates want higher taxes on tobacco and contractors seek an increase on the gasoline tax.

    The proposals are surfacing as the Nevada Legislature gets ready to open Feb. 7 and fly in the face of Gov. Brian Sandoval's pledge to veto any tax increases.

    Read More »
  • Valley office market remains weak in quarter

    January 15, 2011 | Las Vegas Review-Journal | Hubble Smith

    The exodus from Las Vegas office space continued in the fourth quarter as vacancy rose to 23.7 percent and net absorption fell to negative 174,333 square feet, commercial real estate brokerage Colliers International reported.

    Read More »
  • Some property taxes to increase for homes

    January 15, 2011 | Las Vegas Review-Journal | Scott Wyland

    Although Clark County is still mired in a recession and the real estate market is in a deep funk, more than 280,000 homeowners could see their tax bills go up this year.

    Read More »
  • Census shows long-distance moves at record low

    January 12, 2011 | Las Vegas Review-Journal | Hope Yen

    WASHINGTON -- Americans are shunning long-distance moves at record levels as many young adults, struggling without jobs, opt to stay put rather than relocate to other parts of the United States.

    Read More »
  • Mild recovery under way for commercial real estate

    January 10, 2011 | Las Vegas Sun | Buck Wargo

    Follow the jobs.

    That's the best way to predict the commercial real estate market in Las Vegas that analysts said won't worsen and, at least, will show signs of a gradual recovery in 2011.

    Read More »
  • Room Rates Rise As Las Vegas Convention Business Booms

    January 5, 2011 | Channel 8 News Now |

    LAS VEGAS - Las Vegas has the glitz and glamour conventioneers at the Consumer Electronics Show desire. The city also offers some of the finest hotels in the world, and for the next several days, room rates are pricey.

    Read More »
  • Hughes Center sees $55 million in leasing activity in '10
    Mixed-use complex leases 221,000 square feet of Class A office space in year

    January 3, 2011 | Las Vegas Business Press | Tony Illia

    Hughes Center, the valley's premier power-business address, still has the power to attract deals.

    The 115-acre Class A office complex had $55 million in transactions in 2010, despite a recession that hobbled most of the valley's real estate market.

    The mixed-use complex bordered by Sands Avenue and Flamingo Road, Paradise Road and Koval Lane leased 221,000 square feet of Class A office space this year.

    Read More »
  • With boom days gone, Nevada's future offers some tough choices

    January 2, 2011 | Las Vegas Review-Journal | Laura Myers

    Welcome to the beginning of a new era.

    With those celebratory words, the head of the Strip's newest chandelier-strewn hotel-casino, The Cosmopolitan of Las Vegas, opened its doors in December to great fanfare.

    Read More »
  • Gaming stocks rebound in 2010 after dismal showing in '09

    January 1, 2011 | Las Vegas Review-Journal | Howard Stutz

    Stock prices for publicly traded casino operators and slot machine manufacturers rebounded in 2010 following a disastrous 2009

    Read More »