Las Vegas The Las Vegas Valley office market is experiencing more empty offices than ever before with vacancies reaching a record-high 19.6 percent. The latest vacancy figures are 2.0 points ahead of where they started the quarter and 4.9-points higher than the same quarter of last year (Q1 2008). During the current cycle, vacancies reached their low point of 8.1 percent in … [Read more...] about Office Summary: First Quarter 2009
Departments
June 2009: Business Indicators
We find little improvement in the most recent economic indicators—for example, the unemployment rate rose nationally and in the Silver State. Unemployment rates in Nevada climbed rapidly over the past year and reached double-digit levels—10.5 percent, 10.4 percent, and 11.2 percent respectively for Nevada, Clark County (Las Vegas), and Washoe County (Reno) by April. The rates … [Read more...] about June 2009: Business Indicators
What is the Silver Lining to Our Current Economy?
“It has been a true reminder that none of us are ultimately defined by our balance sheet. Our value and worth as a person are based on the legacy we create, the opportunities we give to others and the support we provide our families and communities.” Frank Aguilar • President, TriCor Financial, LLC, Las Vegas“No matter what industry you are in, this type of economy … [Read more...] about What is the Silver Lining to Our Current Economy?
May 2009: Business Up Front
Federal Incomes Taxes Need Overhaul A new national survey commissioned by the Tax Foundation and conducted by Harris Interactive shows a majority of U.S. adults think that federal income taxes are “too high” (56%), while four in every five adults say the federal tax code is complex (85%) and say that the tax system needs to be completely overhauled (82%). Healthcare Costs … [Read more...] about May 2009: Business Up Front
May 2009: Around the State
Nevada Hospitals Among Nation’s Best Consumers’ Checkbook, a non-profit watchdog group, surveyed doctors from across the country asking them whether and where they recommend patients seek care in their own and other communities for difficult cases including complicated heart conditions, cancer and other unusual ailments. From 140,000 hospital ratings, the organization … [Read more...] about May 2009: Around the State
Industrial Summary: Fourth Quarter 2008
Las Vegas The Las Vegas Valley industrial market continued its expansion, reaching 102.4 million square feet by the close of 2008. Inventory levels grew by 1.2 million square feet as a number of projects completed construction during the quarter, resulting in an annual expansion of 5.2 million square feet. The market’s expansion fell short of the 2007 new supply total of 7.2 … [Read more...] about Industrial Summary: Fourth Quarter 2008
May 2009: Business Indicators
The lyrics of Francis Paul Webster and the haunting melody of Maurice Jarre’s soundtrack from “Doctor Zhivago” say it best. It puts you in the right frame for seeing a way forward from the current economic travail. Yes, we find ourselves in an economic winter, but we will see an economic recovery, perhaps earlier, but hopefully by spring 2010. Hope will first appear in … [Read more...] about May 2009: Business Indicators
How has the social networking trend affected your business?
Dr. Darren Soong, Partner, The Gastric Band Institute, Las Vegas We recently added a blog to our website and started posting videos of our patients’ success stories on YouTube. Although these new tactics have not replaced our involvement with traditional media, it definitely has become an essential enhancement to our program. Holly Silvestri, Principal, The Ferraro Group, Las … [Read more...] about How has the social networking trend affected your business?
Diane Fearon: Bank of George
President/CEO Las Vegas Number of Employees: 33 Years in Nevada: 30 Years with Company: Founded in 2007 Describe your leadership style: Lead by example and give people both autonomy and accountability. Choose employees who share a commitment to integrity and excellence. Best business advice: Take care of your employees and they will take care of your … [Read more...] about Diane Fearon: Bank of George
April 2009: Business Up Front
Corporate Travel Cuts May Hurt Business Recovery A new survey, by the U.S. Travel Association, of business leaders finds that while corporate travel budgets are often the first target of cost-cutting measures, a majority believe that companies who increase travel during an economic downturn will be better positioned to build competitive advantage. Nearly three-quarters (72%) … [Read more...] about April 2009: Business Up Front
Thomas G. Ryan: Lewis and Roca LLP
Partner Las Vegas, NV Number of Employees: 104 Years in Nevada: 10 Years with Company: 22 Describe your leadership style: I believe in developing relationships with my colleagues and with our clients. Within the firm, I try to promote free and frank discussion and encourage each person to express his/her opinions, concerns and goals. A better understanding of diverse … [Read more...] about Thomas G. Ryan: Lewis and Roca LLP
Shawn Danoski: Danoski Clutts Building Group
CEO Las Vegas, NV Number of Employees: 25 Years in Nevada: Native Years with Company: 9 Best Business Advice: Be yourself and treat others as you wish to be treated. How do you retain your best and brightest employees? Care about them and do things they will remember. What do you like most and least about your industry? Most is the opportunity to help … [Read more...] about Shawn Danoski: Danoski Clutts Building Group
April 2009: Nevada Briefs
Study: Spending Increases In Nevada May Worsen Results Spending more public money on Nevada education, healthcare, public safety and transportation may actually lead to performance decreases in those areas, a new study finds. Nevada Policy Research Institute released the findings of a study in which they examined Nevada’s spending over the last 10 years and concludes “that tax … [Read more...] about April 2009: Nevada Briefs
Commercial Retail Summary: Fourth Quarter 2008
Las Vegas The Las Vegas commercial retail sector was impacted by weak local consumer spending and financial challenges impacting national retailers in 2008. During the fourth quarter of the year, the market expanded by 236,000 square feet reaching 50.5 million square feet in 326 anchored retail centers. On the year, the market welcomed 1.9 million square feet, although … [Read more...] about Commercial Retail Summary: Fourth Quarter 2008
April 2009: Business Indicators
The Silver State’s conditions have deteriorated rapidly. Just a year ago the jobless rate was 5.9, 5.6, and 6.6 percent for Nevada, Las Vegas, and Reno, respectively. A year later the rates exceed 10 percent—meaning a bad recession for the Silver State and its major urban areas. National conditions do not offer much encouragement—consumers now spend less, believing that an … [Read more...] about April 2009: Business Indicators