Nevada’s Public Employees’ Retirement System (PERS) has the best investment strategy among public retirement systems in the country and one of the best records of return. It also has one of the worst records in openness, transparency and accountability. Why? The last six years’ annual percentage returns have been 9.1, -5.1, 27.3, 8.5, 8.6 and 11.9. That’s a cumulative … [Read more...] about Free Market Watch
Monthly Editorial Departments
ReD ReportRetail Summary: Second Quarter 2023
Northern Nevada By Gary Tremaine & Patrick Sheehan, Dickson Commercial During the second quarter of 2023, retail investment continued at a relatively slow pace. Despite the ever changing capital markets, there was a number of single-tenant investment transactions in Q2, highlighted by the sale of a single-tenant, O’Reilly's Auto Parts property in Sun Valley, at a 5 … [Read more...] about ReD Report
Business IndicatorsSeptember 2023
The second estimate of U.S. real gross domestic product (GDP) for 2023Q2 expanded by an annualized 2.1 percent, revised down by 0.3 percent from the advance estimate reported last month. The downward revision mostly reflected lower business investment than previously expected, which was partly offset by larger-than-expected government spending. Overall, the real GDP for 2023Q2 … [Read more...] about Business Indicators
Free Market WatchDemocrats & Teacher Unions Wrong in Principle on Opportunity Scholarships
In August, legislative Democrats turned down Governor Joe Lombardo’s proposal to fund Nevada’s Opportunity Scholarship program reasonably from surplus funds available, and they left the funding at a minimum level. But Lombardo pulled a rabbit out of the hat and found enough private reserve funding to keep hundreds of students already in the program from losing scholarships this … [Read more...] about Free Market Watch
Around the StateSeptember 2023
Roseman University Receives Grant for Empowered The EMPOWERED program at Roseman University College of Medicine was awarded a two-year grant of $230,360 per year through the Fund for a Resilient Nevada. The grant will support the program to continue to help pregnant and post-partum women in their recovery from opioid use disorders. The fund was established in 2021 to … [Read more...] about Around the State
Business IndicatorsSeptember 2023
The advance estimate of U.S. real gross domestic product (GDP) for 2023 Q2 expanded by an annualized 2.4 percent, exceeding expectations that the economy would slow down due to higher-interest rates. The real GDP growth largely reflected a strong rebound in business investment as well as increases in consumer spending. Seasonally adjusted U.S. nonfarm employment added … [Read more...] about Business Indicators
Commercial RE ReportOffice Summary Second Quarter 2023
Northern Nevada By Jordan Lehman, Colliers | Reno Reno’s office market experienced a mix of market fundamentals performance this quarter as it saw a notable decline in available sublease space and a continued slowdown in investment activity. For the first time since mid-2021, the total amount of available sublease space fell during the quarter. No longer more than … [Read more...] about Commercial RE Report
Free Market WatchSolutions for Some of Our Biggest Public Policy Problems
Last month, this space listed our three biggest, most challenging public policy problems: 1) excess government spending, causing inefficiency and low government productivity; 2) proceduralism, the long public review processes, slow agency response times, and delays; and 3) overreach, inherently ineffective government policies akin to pushing instead of pulling on a string. An … [Read more...] about Free Market Watch
Around the StateAugust 2023
Transportation Projects Awarded Grants The Regional Transportation Commission (RTC) of Washoe County is receiving $25 million in federal funding for the Lemmon Drive Improvements and Resiliency Project. The money is being awarded by the Federal Highway Administration (FHWA) and is part of the Rebuilding American Infrastructure with Sustainability and Equity (RAISE) … [Read more...] about Around the State
Commercial RE ReportIndustrial Summary Second Quarter 2023
Northern Nevada By Angel Orozco, CBRE The Reno industrial market is comprised of 108.3 million square feet (SF). The market has substantially grown over the last five years, adding over 20.5 million SF of new inventory. The construction pipeline remains plentiful, with a variety of projects totaling over 5.8 million SF currently underway and 13.9 million SF in various … [Read more...] about Commercial RE Report
Business IndicatorsAugust 2023
The third estimate of U.S. real gross domestic product (GDP) for 2023Q1 grew by an annualized 2.0 percent, revised up by 0.7 percent from the second estimate reported last month. The real GDP’s upward revision mainly reflected stronger-consumer spending in services and exports, partly offset by downward revisions in business investment and federal government … [Read more...] about Business Indicators
Free Market WatchWaste, Fraud and Abuse Are Not the Biggest Problems … These Are
People often ask public officials about government waste, fraud and abuse – salient problems for sure. They’re often big problems, albeit difficult to ferret out, prove and remedy. The bigger and nearly universal problems resemble them, but are more subtle and challenging to show and remedy. Those problems are: excess government spending, leading to inefficiency and low … [Read more...] about Free Market Watch
Around the State
UNLV Launches New Insurance Industry Center The University of Nevada, Las Vegas’ Lee Business School has established the Keretesi Center for Insurance and Risk Management. The result of a $5 million gift from the Nevada Surplus Lines Foundation, the center will advance faculty and student research in insurance and risk management. The center is also expected to serve as a … [Read more...] about Around the State
Commercial RE ReportRetail Summary First Quarter 2023
Northern Nevada By Gary Tremaine, Dickson Commercial Group The first quarter of the year saw a significant increase in volume over Q4 2022, but most of the volume increase was due to the sale of the Summit Mall, acquired by Rhino Properties in South Meadows. There was a decrease in sales in Q1 2023 compared to Q4 2022, but a decent increase in sales volume and average … [Read more...] about Commercial RE Report
Business IndicatorsJuly 2023
The second estimate of U.S. real gross domestic product (GDP) for 2023Q1 grew by an annualized 1.3 percent, revised up by 0.2 percent from the advance estimate reported in the previous month. The upward revision in real GDP primarily reflected a smaller decrease in business inventories, which mainly contributed to slower growth in real GDP for 2023Q1. Seasonally adjusted … [Read more...] about Business Indicators