Business briefs for October 15, 2004

Friday, Oct. 15, 2004 | 10:45 a.m.

FERC hearing delayed

The Federal Energy Regulatory Commission has delayed hearings on Enron Corp.'s 2002 move to terminate contracts with Nevada Power Co. and Sierra Pacific Power Co.

Previously scheduled to begin on Oct. 25, the hearings have been delayed until Dec. 13. The move will give Enron more time to produce 900,000 documents and 84,000 e-mails requested by the Nevada companies, corporate filings said.

Company plans to cut 700 jobs, expects charge

OVERLAND PARK, Kan. -- Sprint Corp., the telecommunications giant, today said it will cut 700 jobs in its business solutions division and record a charge against earnings in its third quarter to reflect a decline in value of its long-distance assets.

The company said a majority of the job cuts will come from sales and support. The business solutions division was reduced by 1,100 jobs this summer; Sprint has cut 22,000 jobs in the last two years.

Third-quarter profit soars

Las Vegas-based Bank of Nevada said third-quarter profit was up 82 percent to $1.9 million, compared with $1 million for the same 2003 quarter.

Bank of Nevada, which operates three branches in the Las Vegas Valley, had total assets of $225 million on Sept. 30, up from $157 million a year ago. Deposits increased from to $201 million, up from $135 million in the same period.