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December 18, 2014

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Business and Economy

Senate Majority Leader Harry Reid walks to meet with fellow Democrats on Capitol Hill in Washington, Tuesday, Dec. 16, 2014. When the 114th Congress convenes in January, Reid and his party will be the minority.
Congressional session is finally over: So what was in it for Nevada?
Dec. 18, 2014
Tax breaks and lands bills got the OK and Yucca Mountain got another stiff-arm during the lame-duck session of Congress, but Nevada lawmakers didn't get everything ...
Reid Gardner Station, a coal fired power plant in Moapa, is shown on Friday, Dec. 7, 2007.
Regulators again reject Moapa solar plant; Reid Gardner still set to close this month
Dec. 17, 2014
State regulators quashed NV Energy’s plans to build a 175-megawatt solar farm on the Moapa Band of Paiutes’ Indian Reservation, saying the company was trying to ...
Tourists pose in front of the iconic Welcome to Fabulous Las Vegas sign in this file photo.
Las Vegas breaks own record with 40 million visitors
Dec. 17, 2014
Las Vegas tourism officials say 40 million people have visited the destination in 2014, breaking an all-time record for the gambling and entertainment hub. The Las Vegas Convention and Visitors Authority ...
Fed promises ‘patient’ approach to rate hikes
Dec. 17, 2014
The Federal Reserve is signaling that it's edging closer to raising interest rates from record lows because of a strengthening U.S. economy and job market. But it is promising to be "patient" in determining when to raise rates. The Fed said ...
Hyde Park Middle School teachers Stephanie Cooper and Shay Bassett talk during a teachers union rally at the Clark County School District administration building on Wednesday, Feb. 8, 2012. About 100 teachers rallied at the West Sahara building to protest potential layoffs and working conditions.
Battle lines: Why unions are preparing for assault in Legislature
Dec. 17, 2014
Public employee unions are gearing up for a battle against Republicans in the 2015 legislative session. Conservative lawmakers and activists are rallying to upend some of the state’s collective bargaining laws, the rules that guarantee unions the right to negotiate ...
Trend Nation workers prepare orders as they enter the busiest week of the shopping season within a 33,000 square foot facility in Las Vegas sending 10,000 last-minute orders on Tuesday, December 16, 2014. L.E. Baskow.
Move over, Zappos: There’s another online retailer in town
Dec. 17, 2014
Trend Nation is Las Vegas’ own e-commerce site, selling everything from wallets to bags to goblets decorated with plastic jewels. So far this year, the company has generated more than $19 million in revenue.
Report: Nevada Hispanics increasingly helping drive state’s economy
Dec. 17, 2014
The Hispanic community is a growing force driving Nevada's economy, garnering more than $8 billion in after-tax income during 2013 while also ...
A vacant home is shown in North Las Vegas April 2, 2013. A neighbor said it has been vacant for about six months. (1513  Splinter Rock, North Las Vegas)
Las Vegas’ underwater mortgage rate improving but still worst in nation
Dec. 16, 2014
Some 27.8 percent of local homeowners with mortgages were upside-down — meaning their debt outweighs their home’s value — in the third quarter. That’s down from 39.6 percent a year ago and ...
The exterior of Hakkasan at MGM Grand on Thursday, June 6, 2013, on the Las Vegas Strip.
Nightclub operator Hakkasan acquiring Light Group in $36 million deal
Dec. 16, 2014
Hakkasan Group initiated a major shakeup of the Strip’s nightlife business today with plans to acquire another prominent nightlife company, The Light Group, for $36 million. Morgans Hotel Group ...
A view of new home construction in Summerlin Wednesday, July 30, 2014.
Report: Housing outlook not ‘warm and fuzzy’
Dec. 16, 2014
With home sales and construction plans sliding and prices flat, there’s little reason to feel “warm and fuzzy” about Las Vegas’ housing market next year, a new report says. Builders sold ...
Cameron Cerf holds a protest sign with Southwest Airlines employees at the entrance to Love Field in Dallas, Tuesday, Dec. 16, 2014. Saying Southwest Airlines is neglecting workers and its customers, baggage handlers are bringing attention to the company's slide in on-time performance as they seek a new contract after three years of negotiations.
Southwest bag workers picketing over flight delays
Dec. 16, 2014
Saying Southwest Airlines is neglecting workers and its customers, baggage handlers are bringing attention to the company's slide in on-time performance as they seek a new contract. Workers picketed and handed out leaflets to passengers at Denver and ...
A view of the Harmon tower in CityCenter on Friday, Nov. 14, 2014. The planned 47-story tower, stopped at 26 floors, is being demolished by MGM Resorts.
Settlement reached in lawsuit over flawed Strip hotel tower
Dec. 16, 2014
A last-minute settlement avoided trial Tuesday in a massive civil breach-of-contract lawsuit involving casino giant MGM Resorts International and six of seven contractors on ...
Frank Martin, founder of Martin-Harris Construction, one of Las Vegas' biggest contractors, recently sold the company and is poised for retirement within 2 years on Thursday, December 10, 2014.
Q+A: Las Vegas contractor talks city’s colorful past, surviving recession, stepping aside
Dec. 16, 2014
Frank Martin, the 67-year-old co-founder of Martin-Harris Construction, helped build Las Vegas, turning dirt lots into schools, office buildings and casinos. His company was hit hard by the recession, but survived. But now, with business improving, Martin is ready to call it a ...
An exterior view of Caesars Palace on Thursday, June 6, 2013.
Caesars misses $225 million interest payment
Dec. 15, 2014
Caesars Entertainment Corp. officials say they won't make a $225 million interest payment due Monday on some of its debt as the company keeps negotiating with senior bondholders to restructure the company's finances. ...
Report: Nevada among top states for mortgage fraud
Dec. 15, 2014
Mortgage fraud is rising nationally and remains more active in Nevada than in almost every other state, a new report shows. Some 74 percent of U.S. home loans last year involved ...

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