Las Vegas business news

sgreen@lasvegassun.com

Monday, June 29, 1998 | 10:45 a.m.

Local

* LV CARPENTERS REJECT CONTRACT -- Members of the Southern California-Nevada Council of Carpenters voted down a contract Sunday night that would have given them a $5.83 per hour pay and benefits raise over the next four years. Union officials declined to release the final vote tally, but said the union would be back in negotiations this week. The vote means a strike could be looming as the union's contract expires at midnight Tuesday. The union had been in joint negotiations with the United Builders and Contractors, Associated General Contractors and the Nevada Contractors Association. "We'll just have to wait and see what unfolds," said Tony Illia of the AGC.

* HENDERSON VETERANS CLINIC DEDICATED -- Foundation Health Systems Inc. of Los Angeles said it's preparing to care for 1,500 veterans in Southern Nevada under a contract with the Defense Department that begins Wednesday. Foundation today dedicates an outpatient clinic in Henderson to serve the veterans, who live in Henderson, Boulder City, Laughlin and Bullhead City, Ariz. Foundation said these veterans in the past had to travel to Las Vegas for clinical services. Foundation hired Spectrum Health Care Services, a national health care company that specializes in professional staffing and management services, to develop and staff the clinic. The 5-year contract is valued at $3.6 million.

* SIERRA HEALTH RATINGS UNDER REVIEW -- Duff & Phelps Credit Rating Co. said it's reviewing with negative implications its financial strength ratings for two subsidiaries of Sierra Health Services Inc.: Health Plan of Nevada and Sierra Health and Life Insurance Co. The ratings are under review because of Sierra's acquisition of a Texas health maintenance organization from Kaiser Permanente. Duff & Phelps said there are concerns about Sierra taking on new debt to finance the deal; and about Sierra's challenges in integrating and improving the HMO.

* IGT DEVELOPING ELVIS-THEMED GAMES -- International Game Technology of Reno said it gained exclusive worldwide rights from Elvis Presley Enterprises Inc. to use the likeness of Elvis and some Elvis songs and song titles in new slot machines. "IGT is very excited about the instant recognition and obvious marketing potential that this licensing presents," said Tom Baker, IGT president. "The world has not stopped its love affair with Elvis."

* NEW CFO AT GAMING COMPANY -- NevStar Gaming & Entertainment Corp. of Las Vegas announced the appointment of Brent Duncan as its chief financial officer and treasurer.

* CASINO PORTER ALLEGES SEXUAL HARASSMENT -- A former casino porter at the Excalibur hotel-casino sued his former employer and its parent company, Circus Circus Enterprises, in U.S. District Court, alleging sexual harassment by a supervisor and seeking unspecified damages. Michael Minear's suit alleges that beginning in 1995 his supervisor directed obscene, offensive and sexually explicit remarks at him as well as touching him against his will. Minear had been employed there since 1990. He filed a complaint with the company in January 1997, the suit states, followed by a complaint filed with the U.S. Equal Employment Opportunity Commission that June. He received a right to sue notice from the EEOC March 26, 1998. Attempts to contact Circus Circus Enterprises officials Friday failed.

* ENTERTAINMENT NETWORK TO SPLIT STOCK -- Las Vegas Entertainment Network Inc. is seeking shareholder approval for a 1-for-20 reverse stock split. The move is needed, the company says, to meet the Nasdaq stock market's $1 per share minimum requirement, which became effective in February. LVEN bought the El Rancho Hotel and Casino in 1993, and sold the defunct resort to International Thoroughbred Breeders Inc. in 1996. However, LVEN retained an interest in the El Rancho, which ITB has variously planned to redevelop as the ambitious 6-casino Starship Orion, and more recently as the more modest CountryLand. LVEN hasn't turned a profit in at least five years, and its stock has fallen from the $8 range in 1993 to 9 cents Friday. The stock has not traded above $1 since early 1996. In its last fiscal year, LVEN lost $6.8 million, or 19 cents per share, on no revenues.

To contact Sun Business Editor Steve Green, call 259-4083 or e-mail sgreen@lasvegassun.com