Las Vegas The Las Vegas Valley office market reported its worst year on record, posting record-high vacancies, net move-outs and price declines in 2009. Net absorption, or the change in the amount of occupied space between periods, remained negative for the fifth consecutive quarter. At the end of the fourth quarter, there were 38.1 million occupied square feet, the lowest … [Read more...] about Office Summary: Fourth Quarter 2009
Departments
March 2010: Business Indicators
The US economy exploded with new growth in the fourth quarter of 2009 as GDP growth soared to a 5.7% annualized growth rate. In the 3rd quarter, real GDP advanced at an annual rate of 2.2%. GDP, a measure of the total value of all final production in the US, is composed of investment by firms and individuals, consumption by households, government spending, and exports less … [Read more...] about March 2010: Business Indicators
What is the one thing your company cannot do without?
“Our company cannot do without quality right-fit clients who see us as a vital partner in helping them grow their business and not just a vendor. Clients are, and will always be, the lifeblood of our business and the reason we are passionate about positioning people and their companies to grow and succeed!” Darcy K. Neighbors • Founder and Chief Executive Officer, CIM … [Read more...] about What is the one thing your company cannot do without?
Sylvia Young: Sunrise Hospital, Medical Center and Sunrise Health System
President Las Vegas, NV Number of Employees: 7,036 total Years in Nevada: 3 Years with Company: 21 What inspired you to get into the healthcare industry? I’ve always been interested in providing a service to people and in healthcare, we get to help people when they are at their most vulnerable. When I was in school I had two mentors who were involved in hospital … [Read more...] about Sylvia Young: Sunrise Hospital, Medical Center and Sunrise Health System
February 2010: Around the State
2009 Second Best Year Ever for Existing Home Sales According to the Greater Las Vegas Association of Realtors (GLVAR), 2009 was the second best year ever in Southern Nevada for sales of existing homes. GLVAR reported 46,879 local housing sales as compared to 28,618 total sales in 2008. Southern Nevada’s best year was 2004 with 71,963 homes sold. Department of Commerce’s … [Read more...] about February 2010: Around the State
Industrial Summary: Fourth Quarter 2009
Las Vegas The Las Vegas Valley industrial market continued to deteriorate with sustained negative absorption, while the remainder of ongoing construction projects wrapped up during the fourth quarter of 2009. Inventory expanded by 462,000 square feet during the quarter, or 1.0 million square feet for 2009, pushing inventories to 103.6 million square feet at year end. Space … [Read more...] about Industrial Summary: Fourth Quarter 2009
February 2010: Business Indicators
The US economy has shown continued, but cautious, signs of economic recovery. The December 29, 2009, release of the New York-based Conference Board’s US Consumer Confidence Index showed consumer confidence rising for the second month straight in November. The Expectations Index climbed to 75.6 from 70.3, reflecting more optimism about the future on the part of the American … [Read more...] about February 2010: Business Indicators
What’s the best business advice you’ve ever received?
“Ask for help! I was one of those ‘do-it-all-myself’ entrepreneurs, never realizing that I held my own business success back by not putting my trust in others to help me, and the company, prosper. I discovered how freeing it was to focus on what I did well!” Stevenson Brooks • Owner, MBSB LLC - authorized licensee of Sandler Training in Las Vegas “If you can find a … [Read more...] about What’s the best business advice you’ve ever received?
January 2010: Around the State
Las Vegas Named Number One U.S. Travel Destination by Orbitz Due to the decrease in hotel room rates, Las Vegas ranks as the top U.S. travel destination according to numbers from Orbitz, an online travel service. Rates are down by an average of 26 percent in 2009. In 2008, rooms cost, on average $115 per night, in 2009, the average was $84 per night. University of Southern … [Read more...] about January 2010: Around the State
Robert A. Martin: BNY Mellon Wealth Management
Nevada Regional President Las Vegas, NV Number of Employees: 14 Years in Nevada: 40+ Years with Company: 5 If you had an additional eight hours each day, what would you do with the extra time? I’d spend it with my family. I know we’re talking about professional achievement, yet if I looked at my whole life, I’d have to say that what I am most proud of, it would be my … [Read more...] about Robert A. Martin: BNY Mellon Wealth Management
Retail Summary: Third Quarter 2009
Las Vegas During the third quarter of 2009, the Las Vegas commercial retail market expanded as several pre-leased, user-specific buildings completed construction during the quarter. Overall, the market expanded by 516,300 square feet during the third quarter, bringing total retail inventory in anchored centers to 51.8 million square feet. Expansions during the quarter … [Read more...] about Retail Summary: Third Quarter 2009
January 2010: Business Indicators
The US economy began to pick up in the third quarter. Gross domestic product, the measure of all goods and services produced in the US, grew at a rate of 2.8 percent. This came after four straight quarters of contraction in the US economy. Although the National Bureau of Economic Research has yet to declare an end to the recession, most economists agree that the recession is … [Read more...] about January 2010: Business Indicators
What would make Nevada more business friendly?
“I recognize Nevada is already business friendly. Government is responsive and accessible. Continued infrastructure investment in technology, financing, workforce training, and transportation will lay the foundation for future business expansion. There exist many clever regional business support groups to help lead. Their efforts can be better synergized.” Russ Romine • … [Read more...] about What would make Nevada more business friendly?
Cary Richardson: Miles Construction
Vice President Business Operations Carson City, NV Number of Employees: 35 Years in Nevada: 10 Years with Company: 7 What inspired you to get into construction? My earliest memories are of standing on a wooden crate to reach my grandfather’s workbench. It was not a conscious decision to get into construction, it is simply who I am. How would you rate Carson … [Read more...] about Cary Richardson: Miles Construction
December 2009: Around the State
Wells Fargo and Wachovia to Combine Wells Fargo & Company plans to combine with Wachovia. In March of next year, Wachovia’s financial centers in Nevada will become Wells Fargo banking stores, pending regulatory approval. Small Business Owners Concerned Over Potential Tax Increase According to a study conducted by the Small Business Research Board in conjunction with … [Read more...] about December 2009: Around the State