Las Vegas The Las Vegas Valley office market reported its fourth consecutive quarter of negative net absorption, suggesting the amount of space being vacated continues to outpace move-ins. Office market inventory expanded by 214,600 square feet during the past quarter, reaching 49.5 million square feet. Additions to the market were concentrated in the south and southwest … [Read more...] about Office Summary: Third Quarter 2009
Departments
December 2009: Business Indicators
The national recession continues, though some signs of recovery give heart that things are on the move. For one, the U.S. Index of Leading Indicators, a six-month-ahead forecast, has been on the upswing over the past five months, suggesting that spring 2010 may see the end of the national recession. On the other hand, the Southern Nevada Index of Leading Indicators, … [Read more...] about December 2009: Business Indicators
Do you think your business will be in a better position this time next year?
“Thanks to our latest marketing campaign, we’ve catapulted our message of diversifying Las Vegas to a national level. Due to our business-friendly environment, the Nevada Development Authority has been continuously bringing in new companies from all over the country, gearing us up for a great 2010 and beyond.” Somer Hollingsworth • President and CEO, Nevada Development … [Read more...] about Do you think your business will be in a better position this time next year?
November 2009: Around the State
Nearly Half of U.S. Companies Now Auto-Enroll Workers into 401(k) Plans According to Watson Wyatt Worldwide, a recent study found that 47 percent of surveyed companies now auto-enroll employees into their defined contribution plan. Additionally, one-third of those that don’t auto-enroll employees are beginning to consider auto-enrollment. This trend could mean that defined … [Read more...] about November 2009: Around the State
Charlie Nguyen: University of Phoenix
Campus Director, Las Vegas Campus Las Vegas, NV Number of Employees: 142 Years in Nevada: 1 Years with Company: 5 What inspired you to get into education? Empowerment comes through education. What inspired me is knowing that education changes lives – it opens the doors to opportunities, adds value to the existing workforce and ultimately improves our community. At … [Read more...] about Charlie Nguyen: University of Phoenix
Industrial Summary: Second Quarter 2009
Las Vegas The Las Vegas Valley industrial market reported its highest vacancy rate in history through the second quarter of 2009. With nearly 12.3 million square feet of vacant industrial property, market-wide vacancies reached 12.0 percent of inventory, which exceeded the previously recorded high of 11.4 percent in the third quarter of 2002. The vacancy rate jumped from … [Read more...] about Industrial Summary: Second Quarter 2009
November 2009: Business Indicators
The recession continues. Business contraction has sent unemployment rates to the highest levels in decades. In Nevada the unemployment rate is at 13 percent, compared with a national rate of 9.8 percent. Since job markets lag during economic recovery, more job losses are expected. It would not be out of order to believe that the U.S. rate will reach 10.5 percent and the … [Read more...] about November 2009: Business Indicators
Who do you think is Nevada’s most effective politician? Why?
“Oscar Goodman, a straight shooter who seems to get things done.” Richard M. Haddrill • Chief Executive Officer, Bally Technologies "Effective is a very tricky word." Jim Annis • President, The Applied Companies “Are there any?” Deborah Danielson • CFP, CPS, MSFS, President, Danielson Financial Group “Councilman Barlow [City of Las Vegas] is not afraid of … [Read more...] about Who do you think is Nevada’s most effective politician? Why?
Michael J. Uboldi: Saint Mary’s Regional Medical Center & Health System
President & CEO Reno, NV Number of Employees: 4,000 Years in Nevada: 2 Years with Company: 2 What is your best business advice? If you can conceive it and believe it, you can achieve it. How do you retain your best and brightest employees? By letting them know they are valued through actively listening, communicating the truth and demonstrating your … [Read more...] about Michael J. Uboldi: Saint Mary’s Regional Medical Center & Health System
October 2009: Around the State
Capitol Bancorp Announces Planned Consolidations of Nevada Banks Pending regulatory approval, Bank of Las Vegas, Black Mountain Community Bank, Desert Community Bank and Red Rock Community Bank will consolidate and operate as one charter, Bank of Las Vegas. CHMS Announces Letter of Intent to Acquire Energy Operations CHMS d.b.a. Hybrid Energy Holdings, a Reno based company, … [Read more...] about October 2009: Around the State
Retail Summary: Second Quarter 2009
Las Vegas During the second quarter of 2009, the Las Vegas commercial retail sector in Southern Nevada remained weak as tenants vacated more space than they moved into, a trend that has prevailed for three consecutive quarters. The amount of occupied space (46.3 million square feet) is at its lowest level since the third quarter of 2007; with nearly 4.5 million square feet … [Read more...] about Retail Summary: Second Quarter 2009
October 2009: Business Indicators
We have come to the one-year anniversary of the Lehman Brothers’ failure. They held a long-standing Wall Street position of financial strength and most considered Lehman too big to fail. Not surprisingly, the failure sent a wave of shocks, including consumers cutting their spending, paying off outstanding credit, and raising their savings. Job losses grew quickly. … [Read more...] about October 2009: Business Indicators
What’s your Motto?
“‘Seize the day.’ No matter what the day brings, there is always something to appreciate and be thankful for. People spend too much time ruminating about the past or worrying about the future while ignoring the present moment.” Rick Campbell • Partner, Armstrong Teasdale, LLP “It doesn’t matter how well you do in life, but rather, how much good you do.” Steve Schorr … [Read more...] about What’s your Motto?
Kevin Wallace: RMI Management, LLC
President & CEO Las Vegas, NV Number of Employees: 450 Years in Nevada: 19 Years with Company: 15 How do you retain your best and brightest employees? We strive to put the right person in the right job, and then empower them so they feel comfortable making decisions and putting forth ideas. Who inspired you to get into the business? I didn’t plan to … [Read more...] about Kevin Wallace: RMI Management, LLC
September 2009: Around the State
WaterSmart Innovations Conference Garners International Support The second WaterSmart Innovations Conference and Exposition presented by the Southern Nevada Water Authority (SNWA) in conjunction with the U.S. Enviornmental Agency’s (EPA) WaterSense Program and the American Water Works Association (AWWA) is slated for October 7 -9, 2009 in Las Vegas.. The conference has … [Read more...] about September 2009: Around the State