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Tuesday, Nov. 13, 2012 | 2 a.m.
Another view?
View more of the Las Vegas Sun's opinion section:
• Editorials - the Sun's viewpoint.
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Have your own opinion? Write a letter to the editor.
Regarding J. Patrick Coolican’s Oct. 24 column:
Are Coolican and the Las Vegas Sun the only ones in the Las Vegas Valley who understand there will be “no here here” again until we repopulate the community with an educated workforce who can speak in complete sentences; understand the purposes of a paragraph in writing; and can add, subtract, multiply and divide numbers less than one and more than 100?
His column, “We won’t fulfill Romney’s dream,” is on point. Regarding construction — with the exception of some remodeling, upgrades and additions to resort properties — the industry is virtually dead.
Those surviving are working elsewhere.
The 21st century economy needs learned people for jobs in technology, business and commerce.
Blue-collar and white-collar employers today seek knowledgeable workers, people who can learn continuously and relearn for tomorrow’s emerging needs.
According to a 2011 report published by the Education Alliance of Washoe County, “Although Nevada has one of the best business tax climates in the nation, its economy is in crisis with the highest unemployment rate, lowest rate of job growth and a falling GDP.”
The report goes on to state that Nevada has one of the least-educated adult populations in the nation — we rank 49th in college graduates and last in eighth-grade reading performance. As for best states for business, the report says a CNBC study ranks Nevada 47th.
If we want our community to move toward prosperity, preparing youngsters for parking cars ain’t going to cut it.
People who make the grades leave to seek good companies in other locations
Those that stay have learned to count cards and little else
Other then NTS, Nellis, Indian Springs there is little high tech in this town.
This will never be like San Jose
I read recently that Nevada ranks 51st in high school graduation rates. Not a stellar statistic, and not a surprise. As the writer states, flipping cards and parking cars are not the jobs to aspire too anymore. What's the answer? I don't know. Throwing more good money after bad doesn't seem to be working does it. What do the young people of this state want out of their working lives? What are their aspirations, their goals, their plans? Do they even care about education, or are they content to continue filling jobs in our service based economy, making survival wages with little or no future for themselves.
I watched the 60 Minutes report on Sunday where they talked about all these jobs that employers could not fill. The company they focused on offered jobs at $ 12.00 an hour. That's what I paid people in their 20's to work a telephone help desk in the early 1990's.
And therein lies a big part of our problem, in this state and most others. You can live on $ 12.00 an hour in 2012, but you are going to live a lousy life. It's expensive to live here and getting more expensive all the time. $ 12.00 an hour jobs are not going to cut it.
Good jobs that pay a decent living wage are very hard to come by. Americans want inexpensive everything and that means imported goods and services, and that means a deficit of good paying jobs and lots of low paying jobs.
If Americans want back an economy with more and higher paying jobs, they are going to have to be willing to pay more for goods and services made here instead of in a foreign country with a standard of living far below what we have here.
We can educate our people for the 'jobs of the future', but if we aren't willing to pay more for goods and services produced here, those 'jobs of the future' will all be somewhere that isn't America.
Michael
Michael
There used to be career path choices offered in High School. One could place emphasis on learning a trade, or pursue "College Prep" courses.
There used to be well paid Union trades jobs available to those who did not see a College education as an alternative. Union jobs meant higher pay, and a comfortable middle class life. Those days are pretty much gone. College grads can't find jobs and are saddled with debt upon graduation.
For the long term unemployed, a job at $12 an hour is better than no job. It's a start, and they can try to achieve a better paying job through training and/or further education.
Good paying Union jobs forced non-union businesses to pay better wages to compete for workers, which "raised everybody's boat". Sadly, Union workers are in an ever diminishing minority, and as a result, wages in this country have stagnated or been reduced to levels not seen since 1988. Even joining the Military as part of a career path is in jeopardy, as the Military is now having trouble finding candidates who can pass the Military entrance exams! Sad commentary on our pathetic education system, not only here, but all over the United States.
When you have an economy based mainly on gaming-tourism and gold mining, you are vulnerable to just what has happened to us. Add to that the fact that gaming continues to spread to other States and Indian Reservations and you have a perfect storm for Nevada.
We prospered for years on growth. But we have uncovered the truth of the fairy tale that "growth pays for itself". The music has stopped and Nevada does not have a chair.
We have tried for years, with limited success, to diversify Nevada's economy with the lure of low taxes. But any company worth attracting can see beyond our low taxes to all the State's unmet needs ranging from education to mental health.
If we won't invest in ourselves, no one else will.
Quality of the workforce is important but so is business climate and living environment. You need all three for a state to attract businesses interested in either expanding or migrating away from states with a less desirable business climate. The path for job growth in Nevada is attracting California businesses wanting to migrate out. A state in a centralized location with natural resources are added bonuses that Nevada lacks. The moniker "Sin City" does not bode well for attracting corporate headquarters. I sense that quite a few Nevada college grads migrate out of state to find employment.
Best and Worst States in which to do business
http://chiefexecutive.net/best-worst-sta...
Texas Ranked 1st (best)
http://chiefexecutive.net/texas-is-the-b...
CEO comments:"Texas--what else needs to be said--great people, low tax, low regulation, great central location."
"Texas continues to develop and grow businesses. The state attracts top-level talent across the income divisions. Laws and taxation are creating opportunities that benefit expansion and job growth."
California 50th (Worst)
http://chiefexecutive.net/california-is-...
CEO comments: "California continues to head in the wrong direction as its tax policies will drive more businesses and people to relocate in other states. State politicians feel business and commerce are "necessary evils" that provide the funds to enable pursuit of their misguided agendas."
"California government is difficult to work with and very bureaucratic. Taxes and regulation are high and unruly."
Nevada Ranked 12th
http://chiefexecutive.net/nevada-is-the-...
CEO comments: "Nevada and Texas are by far the best from a tax perspective."
"Many business that go out of state [California] go to either Nevada or Texas."
Casler, there is a simple solution. You, and your like-minded friends, pool your resources, open businesses and pay more per hour - say, 25 bucks. That's take care of the problem, won't it? Nonsense. Being an ex-employer, I know something about what it takes to survive and succeed. You don't pay double the going rate so you feel-good-about-yourself. Not if you want to compete. And, you, as a prospective employee, don't get paid more unless you are worth more. How does on get to be "worth more?" Again, simple. Through education and/or developing marketable skills. Developing marketable skills can be done on the job. Ever notice how many stock boys rose to be CEO of the company? Casler, you offer pie-in-the-sky opinions which lead to nowhere. As for our education "crisis," it will never get better as long as the teachers union has a stranglehold on "education." It's long past time to S**t can the model and open it to competition. Vouchers and charter schools. Parents deserve the right to make the decision as to where their kids are educated - not some fumbling, bumbling, pencil-pushing, unelected, unaccountable bureacratic drone. It's time for parents who really care to rise up and tear down the wall that separates their children from a good education! The rich do! They send their kids to the finest private schools money can buy. That goes for both politicians and business leaders. Who's left out? One guess!
Market forces should always prevail. The best and brightest among the employees ultimately get the best and most promising paying jobs. Economics pay the going wages: Higher for those with needed esoteric skills and lower pay for those who don't. Then, intrusive government and organized labor step in and throw a monkey wrench in the process. Think Obamacare and union dues.
CarmineD
Regarding salaries/wages, it would be a good exercise for many to understand how companies determine salaries/wages for its employees. Companies want to pay a competitive rate. If pay is too high then competition can have an edge in gaining a share of the market via price wars that drive high cost competitors out of business. If pay is too low then a company experiences higher turnover rates which is undesirable on many fronts. Many companies utilize wage & salary surveys conducted in the state where the company unit exists. As a plant manager in one company, I would take all job classes in our plant and compare our pay rates paid to the same job class in our state. The wage & salary survey would list pay per job class at low. medium and high pay levels. The survey would not list surveyed companies pay rates. For any pay level that was below I would recommend a bump to mid-level pay. If a job class required extensive training/education I would recommend the highest pay level. We automatically included cost of living increases. After reviewing my wage & salary recommendations with my boss at corporate, I would send the wage & salary recommendations to corporate human resources for review. Corporate human resources most often accepted my recommendation but during lean years they would counter my proposal resulting in a few adjusted rates than what I proposed. For many job classes, we had incentive pay for those with higher production rates. Determining beginning pay and pay raises is a process that has many factors.
I would suggest asking your employer how they determine beginning pay, pay raises, incentive pay rates for production levels and bonuses for overall performance of the company or business unit.
The problem is the CLASS of people, be it mental or physical. People with class, have a mindset of quality and will demand it, no matter what their financial status at the time is.
Commenter Jerry Fink, illustrates this point, "It's time for parents who really care to rise up and tear down the wall that separates their children from a good education! The rich do!" A child CAN have a quality education through a Nevada public school IF the parent/guardian/caregiver is INVOLVED, and is actively insistant both at home and at school. They actively support and cultivate a rich learning environment at home, and also actively support it for when the child is at school, by being involved in the classroom, PTA, and school site. It is not enough to tell your children to get the best education. As a parent, YOU must be actively making sure that happens.
UNenforced immigration has adversely impacted our educational system. With nearly half of Nevada (the Western USA for that matter), being populated by those from 3rd world countries only coming here for opportunity, not coming here with STANDARDS applied to them, what can we expect? They bring their values and low level of education (and expectations) with them.
Not to be forgotten in this equation, is the segment of our American society who were born into families who are down on their luck,and those who have been generational recipients of public assistance, aka Welfare. Our educational system offers them the same opportunity, but the real outcome is usually decided by their support at home (something educators have NO power over).
Part 1 of 2
Blessings and Peace,
Star
lvfacts101
I'll bet working for you was a real "treat".
@Rev 5:09am....If you are going to cite sources as support for your argument, the sources should support the argument. If California is 50th and Nevada is 12th then California companies should be moving here, especially given location and transportation links. However they are not, and they are not moving in any significant numbers to Texas either. "Smokestack chasing", the tactic that you suggest, is a poor economic development strategy, rarely attracting anything other than bottom-feeders seeking to maximize public investment via tax breaks, "training" grants, infrastructure improvements, etc. Quite often the so-favored company is gone within five years. Better for communities and states to work on their strengths and nurture home-grown industry.
Part 2 of 2 Continued:
Over the years, we have seen a blurring of what is right and what is wrong. This has happened, in part, to our rush to be indiscriminately diverse, not applying known standards to ALL for employment or/and educational admittance to institutions. Some might start with EOE. We all know how that is doing for our country now. Being mandated to fill ethnical quotients. Dare I go there? We all want equal opportunity, but in this process, there should be the same standards of quality. Some of you older folks, may be seeing the same thing I see here.
It was upsetting to watch that 60 Minutes expose' about how lacking Nevada is. They focused on those who did not go to college, did not earn a degree, but rather, those who had no aspirations as youth, probably no upbringing nor family support. Nevada has college graduates who are successful and employed, but 60 Minutes slanted the report to suit their needs. That was shameful.
How can this be changed? First, by ENforcing immigration laws already on the books. Revisit EOE laws, ammend them to fix the disparity in standards, so that potential applicants know they MUST meet standards, not get a free pass for access. In Nevada, our Lawmakers need to put ENforcement teeth in the Clark County School's PARENT/TEACHER/STUDENT INVOLVEMENT ACCORD, to make it more than being a lip-service pledge document signed yearly at taxpayer expense. By having ENforcement, you will see better education as an outcome. Isn't that what we all want?
Blessings and Peace,
Star
In the field of energy and comfort within existing homes, poor ole nevada sure did embarrass herself.
Under Jimbo G, the state passed optimistic legislation saying they would have energy audits as part of real estate transfer so the buyer could know going into the purchase just what she was buying.
It's called full disclosure. In nevada however, the problem turned out to be that not enough nevadans have enough idea of how to perform or present an energy audit according to standards developed around the country in the last few decades.
Now what we have in nevada now is a whole bunch of lousy houses that nobody knows how to measure, to upgrade or identify potential.
This bodes poorly for the long road. In setting up several states and several companies to perform both the energy analysis piece and the upgrade piece, we have recognized rather widely varied levels of expertise in a number of fields of jobs in the energy and housing market.
In my experience the last few years, most of nevada has a long way to go to even begin to keep up with other parts of the country where real estate values and energy upgrades are growing the economies.
Pat wrote "Quite often the so-favored company is gone within five years."
Provide supporting data for this premise.
We got a little house in Seattle for $177K, upgraded the roof, insulation, kitchen, windows, mini-split heat pump and solar. We sold it for $280K after spending less than $50 in less than two months after the purchase. Two young doctors who didn't want to have a utility bill. They get checks now from the utility. hahaha
Would this ever happen in Las Vegas? ... answer... Both the doctors in Las vegas already have homes.
It all starts with the parents. These days too many parents don't parent. That's society today and it's most likely irreversible. Pouring more money into education is futile.
Larry.
What you write makes it sound like there are 45 million jobs available where 80 % of them pay more than 45 K per year. The statistics don't bare that out. Many of those former well paying jobs don't exist anymore. I AM a business owner and not only could I not afford to pay anyone 25 dollars an hour, my wife and I are the only employees we have and she does not take a salary. Why? Not enough business. Why? Too many people struggling with their finances.
You are talking like it is still 1995. It isn't.
Michael
Gary,
I think your view, like Larry's just isn't very valid anymore. Unions could push up wages when the competition was other companies based here in the US, some unionized and some not. Now, the competition is in foreign countries, in places with a much lower standard of living, much lower wages and few unions. All unions here can do now is raise wages....until the jobs go overseas.
That's not a long term solution.
Michael
Wrong again. If and when we have the jobs, the educated workforce will be here. We have millions of unemployed, educated, potential workers. PART of the problem is we are not TRAINING blue-collar workers. No one argues that those seeking jobs need basic skills--showing up on time, pleasant conversation skills, good understanding of the language. And depending on the type of work, it's a real plus to be able to PROPERLY construct a sentence. But all this can be learned in high school, if only K-12 wasn't broken beyond repair. We need to stop dumping endless funding into K-12 and higher ed when the return on investment has been negative, so negative. Now they're trying to sell us into paying for higher ed for out-of-state and illegal students--so they can keep the machine going--for the financial benefit of the "educators."
The children will be let out of school whenever one of the Obama's is on a popular daytime TV show. Celebrity worship now takes it's precedence over learning and governing.
Roberta,
Training is part of the problem and so is the education system. We can't fix the education system with more money or vouchers. Our society needs to buck up... parents need to be better and our society needs to value education like it used to, when I was a kid.
We are a messed up society and country... maybe to a point where what is wrong isn't repairable any longer.
Michael
Carmine, why do you and the extreme right wingers think that health care for the population is inherently a bad thing? Healthy workers are more productive workers. We either need to keep with the employer provided health care model, which Obamacare promotes, or shift to a single payer system, which has extremely high approval ratings in most of the rest of the advanced economies of the world. Idiots like Papa John's, who refuses to raise the price of their crappy, overpriced pizzas $0.15 to pay for health care for their workers, are despicable. Only an animal would have such disregard...wait, even an animal has more respect for members of their species! Progressives should start find out which companies refuse to provide health care for their workers and not spend their hard earned dollars at these businesses.
" Our society needs to buck up... parents need to be better and our society needs to value education like it used to, when I was a kid."
Michael noble thoughts but 11-6 was the start of a new way society thinks. What was is now almost gone and whats next is anyone's guess. When you have single parents, that may try but are saddled with just trying to survive, the family unit of two parents working together to raise thier children is a smaller demographic, hence we end up with the government raising our children under the values they deem to be important.
Notacon,
Do you think it is proper for certain employees to be forced to pay union dues when their dues are then used, without their permission to advocate for legislation they disagree with?
Just asking...
Michael
Part of the problem our young people are facing,not all of them. Is when they see 4 or 5 years of having to pay for college tuition with student loans. Or getting a job as a valet parking cars, or as a cocktail waitress, or a bellman,or any other number of hotel and casino jobs that are enticing. Some of these jobs mentioned a person can make as much as $100,000 a year.
So comparing these high paying jobs or going off to college and getting ino debt(student loans) can be a very hard choice to make for some,and easy for others to make.
It should be pointed out that there are essentially two kinds of unions, the trades that most of us baby boomers are used to, and the service industry unions (which basically includes the public sector unions.)
The trades, along with fighting for better pay/conditions/benefits for their members also provided training and to some extent a quality guarantee to employers to make the higher pay demands seem reasonable. They *also* try to limit their membership so they CAN push for higher wages. Supply and demand in the labor force at work. Nothing wrong with that, usually.
On the other hand, the service unions don't do that. It seems to me that their primary purpose is to simply get as much as they can from management with little or no reciprocal benefit provided.
Just as it is vital to have a good education system so there is a supply of quality employees, it is important that people who support unions understand that many unions today do not fulfill the traditional role of supplying a competent (but limited) workforce, as well.
Other than medicine or mining, you can not find a job with an Advanced degree in Nevada.
The basic difference between private sector unions and public sector unions is this:
In the private sector, management and the union usually understand that if wages and benefits get too high, the company will become non competitive and everyone will lose their jobs.
In the public sector, management (elected officials usually) and the union understand that since there is no competition and taxes can be raised to whatever level is necessary, wages and benefits can be astronomical and the 'enterprise' (government) and its employees (government workers) are at almost zero risk of losing their jobs.
This is the reason that a Progressive President (FDR) did not favor unions in the public sector. We all seen the results and they are not good.
Michael
The core item in the article is education. The being focus, why Nevada is lacking an educated workforce, and why our students are not being fully prepared to meet the demands of a new and growing job market.
New companies and established companies will not start a business or relocate a business if the workforce cannot support the staffing and growth needs of the company. Education is what drives expansion and growth.
Large companies at three things before expanding brick and mortar operations into another state, not necessarily in order,
(1)the number of people in the force,
(2)the level of education of targeted workforce, (3)and the education system.
In today's retailing and marketing, most transactions are performed online, or by email, or by fax. Still, one needs smart educated people to complete all transactions properly. Many times follow-up communication is required, which brings effective communication, such as acceptable speaking and writing, honest and respectful social or professional interaction.
Nevada has much work to do in improving our education system state wide. We are seeing improvement in Clark County. Others, like large companies in Nevada have in-house programs to ensure certain levels of management are receiving a degree from a major university.
My number one reason to vote for President Obama...the President's commitment to education.
wtplv..do you think that it is right that corporations, private individuals and even foreign govenments can put unlimited resources into an election campaign to sway the vote? Citizens United is a MUCH bigger issue.
Michael
I wasn't attempting to push my comment as being valid in today's world. It obviously isn't regarding today's jobs and today's compensation. It was an attempt to illustrate the way things were in better times for this country. Today, $12 bucks an hour is the new paradigm. Wages will never reach the level where they compensate for inflation of the cost of goods and services, leaving the employee to remain a "wage slave" for his or her employer. Jobs will continue to be outsourced until jobs are created that can't be outsourced. The technology is there, the brain matter isn't. However, I don't need a PhD to repair my air conditioner, or my car. Trade skills are still valid, and should be pursued. Cheers!
President Obama's emphasis on jobs and training during his first term fell to some of us experienced business people. Many of us responded enthusiastically and produced significant job growth. In my little companies on both the east and west coasts, what we did was develop good relationships with utilities, unions, community organizations and bankers.
We now have rebates in place for about half the work we do, contacts in every single possible connection to home energy and comfort - from asbestos abaters to knob-and-tube wiring certifications all the way to mini-split heat pumps and solar PV installers.
And, we have developed over 300 full-time jobs at family wages - above $28 an hour in cities. This model is not new. it works when we work together to benefit each other, but fails when some folks get greedy. I see it happen day in and day out.
Jerry
I agree. Everyone should home school their kids or send them to private academies for a "real" education.
Unfortunately, that pesky cost of living and stagnate wages get in the way of your educational utopia. The average working stiff is doing just that; working. No time to teach Billy and Debby at home. Oh yeah, mom ain't there either since she's working too so the family can have something above a subsistence standard of living.
Outside of "free" public education, there is no other option for the vast majority of working stiffs here in the "right to work" utopia that is Nevada. The lucky bonafide middle class, upper middle class, and of course, the rich can insure that their kids get a quality education, and move on to more lucrative job hunting grounds. The working class and the poor? Not so much. I've lived here long enough to know that "wage slaves" will remain "wage slaves"and the privileged few will remain the privileged few.
Part of the problem is that there are few industries in Nevada. If you want work, go to Texas or Louisiana, and breath foul air and live with oppressive humidity . I worked in Lake Charles, a chemical company s*ithole. Houston is a filthy mess, with polluted bayous and rivers.
But hey, they've got jobs. Go to Stinkadena, near Houston. It's now filled with illegals who will get a job, and die young. What a great country. No thanks, Nevada is neat...
The problem may be bigger than nevada's ability to evolve - poverty and ignorance are working against all of us.
Unless and until we choose to improve our next generation's chances of survival with decency and respect, we will be facing an uphill battle as both ressince73 and the doogie make abundantly clear.
The education of the masses is the key to social ascendance - stay dumb and stay stuck at the bottom. It's on ma and pa and teach and neighbor and friend to make this life worth the effort, worth the challenge and worth tomorrow's best chance.
Notacon,
Your response illustrates exactly what a big part of the problem is. I, sitting on the opposite side of where you sit, am quite willing and able to agree that corporations giving unlimited money to campaigns without identifying themselves is a big problem. I have advocated public financing of Congressional campaigns.
You, on the other hand, when asked a direct question about unions, don't respond except to point out something else that is a problem.
When we are unwilling to look at our own dirty laundry, anything else we say about the dirty laundry of others doesn't hold much credence.
So, I'll ask again. Care to provide a real response?
Michael
Robert Duggan wrote "If you want work, go to Texas or Louisiana, and breath foul air and live with oppressive humidity . I worked in Lake Charles, a chemical company s*ithole. Houston is a filthy mess, with polluted bayous and rivers."
Pure BS. I have a home in Texas with family in Houston, Austin, San Antonio and Dallas making Texas the 2nd most populated state at 24 million. These four cities are among the top 15 most populated cities in the US.
Why do so many people live there if it were a filthy mess? Your comment Robert is laughable.
http://www.infoplease.com/ipa/A0763098.h...
RefNV,
I lived in Austin and also a small town called Denison, north of Dallas, just 5mi south of Ok.
While I think most Las Vegans would like Austin, I gotta agree that Houston sucks. They don't call it Humidston for nothing. :)
This is a typical 'Chicken or Egg' argument. Having an educated workforce means nothing if we don't have the jobs for them. People that get degrees will move to other states to get a job to pay for that education. The only way to get a higher educated workforce, is by getting companies to move here that NEED educated workers. Otherwise you have the smartest valets in the country, making minimum wage. If you build it, they will come.
boftx(Jim),
I was born in Austin and graduated from UT. Houston, Green Bay WI, Waterloo IA, Rochester MN and Rockford IL all have average humidity rates between 73%-77%. I'll take a partly cloudy sky and 90 degrees with 75% humidity any day over walking in downtown Phoenix with sun and 115 degrees. LOL
If low taxes and a "favorable business climate" like Nevada has were enough to bring new businesses in, why isn't I15 bumper to bumper with the moving businesses? We see stories about a 100 jobs here, a 150 jobs there. No major new businesses. Could it be the answer to the question, "What are the schools like?"
I think Tanker is correct. IT companies won't relocate her because their current workers won't move here. Why? Because the education system is so poor here. Families put their kids first, and they won't put their kids education at risk for a lower tax rate.
Casinos and mining are barely taxed. Indian casinos in CA are taxed at 25%, and are wildly profitable. I heard Casinos here are taxed at 6%. If they were taxed fairly, and the money put towards education, then Vegas could possibly reverse the education problem and attract and broaden it's business base.
The 2011 Barrick Mining annual report is out. This is a link to the Barrick Annual Report for 2011.
http://www.barrick.com/theme/barrick/fil............
Barrick Mining either owns outright, or is a partner in a joint venture in 7 gold mines in Nevada. To determine my estimate a profits for 2011, I assumed the price of gold at $1500 per ounce, or less. The current price for gold is in excess of $1750 per ounce. The first four mines listed are totally owned by Barrick Mining. In 2011, according to their own figures, Barrick Mining produced almost 97 TONS of gold from their Nevada Mines. That is same weight as 16 full size, original HUMMERS. Barrick Mining has reported record profits and dividends in both 2010 and 2011. Barrick paid a total of $47,300,000 in local and state taxes last year.
The Cortez Hills Mine produced 1.42 Million (44.375 tons) ounces of Gold at a cost of $245 per ounce. If you assume a conservative profit of $1000 per ounce, you get a profit for the Cortez Hill mine of $1,420,000,000.
Bald Mountain Mine produced 93,000 ounces (2.9 tons) at a cost of $558 per ounce. Assuming a profit of $900 per ounce for the Bald Mountain Mine, you get a profit of $83,700,000.
The Gold Strike mine produced 1.09 MILLION ounces (34.0625 Tons) at a cost of $511 per ounce. Again assuming a profit of $900 per ounce for the Gold Strike mine, you get a profit of $981,000,000.
Ruby Hill mine produced 127,000 ounces (3.96875 tons) at a cost of $334 per ounce. Assuming a profit of $1000 per ounce for Ruby Hill, you get a profit of $127,000,000.
Barrick Mining is involved in three joint ventures in Nevada.
Barrick owns 33% of the Marigold mine. Barrick's share of production was 51,000 ounces (1.59675 Tons) at a cost of $761 per ounce. For the Marigold mine, assume a profit of $700 per ounce. The total profit would be $35,700,000.
Barrick owns 50% of the Round Mountain mine. Barrick's share was 178,000 ounces (5.5625 Tons) at a cost of $612 per ounce. Assuming a profit of $800 per ounce for the Round Mountain mine, we get a total profit of $142,400,000.
Barrick owns 75% of the Turquoise Ridge mine which produced 135,000 ounces (4.21875 Tons) at a cost of $569 per ounce. Finally for the Turquoise Ridge mine, assume a profit of $700 per ounce. This would give a profit of $ 94,500,000.
Barrick is actively exploring in the Carlin Trace in Nevada. The Carlin Trace is one of the richest gold deposts in the world. Barrick's annual report shows that 44% of the companies income comes from North America. Don't forget that Barrick is also mining silver along with the gold in Nevada. If you add all of the projected and conservative profits, the total is $2,884,300,000.
According to sources, the Entire mining industry paid approximately $253,300,000 in state taxes on all minerals mined in Nevada. Compare this to the 425 MILLION paid in state taxes by the gaming industry.
"Carmine, why do you and the extreme right wingers think that health care for the population is inherently a bad thing?" notacon
I can't speak for others, just me. Health care is a wonderful thing when it is market based and driven and the Feds stay out of it with regulations and intrusion up the ying yang.
CarmineD
Tanker1975 wrote "If low taxes and a "favorable business climate" like Nevada has were enough to bring new businesses in, why isn't I15 bumper to bumper with the moving businesses? We see stories about a 100 jobs here, a 150 jobs there. No major new businesses. Could it be the answer to the question, "What are the schools like?"
Reductio ad absurdum. The argument "If low taxes and a "favorable business climate" like Nevada has were enough to bring new businesses in, why isn't I15 bumper to bumper with the moving businesses?" is an absurd and ridiculous result since the result wouldn't happen in any city.
The comment "Could it be the answer to the question, What are the schools like?" assumes there is only one factor for a business to move to a city or region which is simply not the case. The quality of the workforce is an important factor but it's one of many. These are a few of the factors companies consider:
1. A pro-business, entrepreneurial, right-to-work state.
2. No state income tax, ease of pulling permits, available work force.
3. The government makes it easy to do business.
4. The tax climate, regulatory environment, incentive programs and work-force development efforts are conducive for business expansion.
5. Work-force availability, existing facilities and good economics for labor and facilities.
6. Cooperation and flexibility of state and local officials; proactive in growing the economy.
shouldn't it read "Nevada poorly educated"?
Will the children be allowed to stay up and watch President Khardasian and the real wives of the pentagon? Cameos by the shirtless FBI and the Columbian secret service chicks?
@RefNe. For years we have heard from our elected officials, "a favorable business climate and low taxes will bring businesses to Nevada." The point that I was tryng to make is that statement is NOT true. If it were, Nevada would not be in the economic situation it is in. You are right, education is not the only factor a business considers in a relocation decision, but all other things being equal, the quality of the state education system and the availability of highly qualified and educated workers will be one of the major deciding factors to that business.